Developing a scope Risk Evaluation Framework for Olympic Games’ Legacy Projects and Implementing the Framework as a case study survey for Convergence Theme in Regeneration of London Host Boroughs
2013 dissertation for MSc in Project Management. Selected by academic staff as a good example of a masters level dissertation. \ud \ud Discovering and generating something new is an exciting experience although heuristic research is often a difficult task as you may not always find others’ footprints to step on. It was exactly what happened in this research as effort was made to answer a real life business need i.e. the need for a suitable framework for evaluating scope risks in Olympic Legacy projects. \ud The present dissertation had two components the first a heuristic one to develop a scope risk evaluation framework, and the second a case study survey to apply the model to a high value purpose area of the legacy i.e. convergence of the host boroughs to the neighboring areas and the rest of the city of London.\ud The main questions to address in this research were if there could be identified any logical goal-oriented model of risk-based thinking with the help of which a legitimate framework can be developed to understand what are the main probable risk factors for legacy functions (in this case convergence theme) and what would be the impact levels and priority of such risks. \ud In this research, after developing the framework, a questionnaire battery was developed with customized phrasing of known scope risk factors so as to reflect negative forces which may impact convergence desired outcomes. The online administration of the survey revealed that 10 out of 11 risk categories were evaluated by a group of 34 selected respondents as probable and having significant impact on the convergence aims. It was also revealed that 17 of the 30 risk factors under these categories were evaluated as likely and very likely to happen. And 20 of these 30 risk factors have significant impact on convergence aims in case that they happen. Prioritization of the results also showed that exaggerated future functionality, overestimated funding, unmanaged downsizing, intangible deliverable problems are the most important priority risk factors threatening the convergence aims.
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