Project Risk Conceptualization by Metaphors

Date

2019-04-12

Author

Dikmen Toker, İrem
Birgönül, Mustafa Talat

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We discuss alternative ways risk is characterized by metaphorical thinking in the literature. Although it is acknowledged that risk may have positive and negative consequences, risk is usually considered as an “enemy” that has to be “defeated” or a “disease” to be “treated”. Metaphors such as dice/coin and black swans divert the attention of decision-makers to only one source of uncertainty, aleatory or epistemic, but not both. Integrative thinking is required where risk can be conceptualized as a “picture” that involves all sources of uncertainty as well as project vulnerability and resilience, considering the “knowledge” and “perspective” of the decision-maker behind the “risk picture”.

Subject Keywords

Risk, Black swans, Project risk management, Resilience management

URI

https://hdl.handle.net/11511/73602

Conference Name

PM Congress 2019

Collections

Department of Civil Engineering, Conference / Seminar

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Citation Formats

İ. Dikmen Toker and M. T. Birgönül, “Project Risk Conceptualization by Metaphors,” Rotterdam, Hollanda, 2019, p. 762, Accessed: 00, 2021. [Online]. Available: https://hdl.handle.net/11511/73602.