ABSTRACT
This chapter sets out a project risk appraisal framework drawn from cognitive psychology developed by the author in an action research project. It also sets out the qualitative methods that can be used both as research methods to discover how a person makes sense of a topic, and as a means for managers to identify sources of risk in relation to strategic investment opportunities. For project risk identification and analysis, there is high value in the group discussion and shared sense making part of the process. The project risk assessment techniques outlined above may be used at different points in a project's life to aid management planning, decision-making and control. Three methods of eliciting personal constructs that may be used separately or combined in project risk identification are the nominal group technique, a form of brainstorming designed for use with groups; repertory grid technique; and cognitive mapping.
