Improving Project Risk Management processes: Applying Business Process Management to implement hybrid methodologies

Project Management (PM) is currently a critical activity for the success/progress of organizations, given the volatility of the market. In this sense, methodologies have emerged to facilitate PM, ranging from linear flows to agile methodologies based on iterative developments. As a component of PM, Risk Management often presents challenges and inefficiencies, underscoring the need for dedicated research. This study aims to map and optimize an RM process in a new product development environment. To address this, a RM process from a large and multinational company was selected and analyzed according to the principles of Business Process Management (BPM), combining with hybrid PM methodology principles. As findings, an optimized process for RM was developed/mapped, being complemented by a set of potential benefits of the designed process. Furthermore, the present study results demonstrate how BPM can be used to evaluate and enhance PM processes, highlighting BPM ’s impact in enterprise sustainability.