ABSTRACT
New projects to produce services or goods can suffer ‘institutional’ risks of their promoters’ lack of agreed objectives, stakeholders’ different criteria for success, uncertainty in committing resources, poor control of changes to objectives, ill-considered shifts in priorities and late preparation for the effects of a project on established business. A common result is reluctance to recognise, analyse and manage their project risks. The causes of institutional risks are well known and the remedies often stated. The remedies cost effort and time, but what are the costs of inaction ?
