Risk Identification and Analysis Based on the Integrated Approach of PMBOK and RFMEA in Petrochemical Industry Projects

Nowadays, as projects become more complex, uncertainty in the implementation of projects also increases. Project risk includes threats to project goals. Risk management is one of the main parts of strategic management of any project and includes processes through which risks related to activities can be identified methodically. The main purpose of this study is to identify and analyze risk, using the integrated approach of PMBOK and RFMEA methods in petrochemical industry projects. The statistical population consists of employer, contract management, engineering consultant, and contractors of the Kermanshah petrochemical industries company. Of whom 10 were selected for the qualitative part and 248 were selected for the quantitative part (regression analysis). Questionnaires were handed to the selected population. 220 of which, were filled out and returned acceptably. As a result, a total of 22 risks were identified as critical risks (with RPN of 1) and the role of management, organizational, and environmental factors in risk management was investigated.