OPTIMIZATION OF STRATEGIC RISK MANAGEMENT IN WARTIME: UTILIZING PROJECT MANAGEMENT APPROACHES TO REDUCE OPERATIONAL RISKS

Abstract

This article examines the optimization of strategic risk management in wartime by applying project management approaches to reduce operational risks. The objective of this study is to demonstrate how integrating project management methodologies can help organizations adapt to the instability and unpredictability characteristic of wartime. Project management principles offer structured frameworks for defining goals, tasks, and activities, which are crucial for navigating rapidly changing economic conditions. This research highlights the importance of risk assessment, conflict resolution, and crisis management techniques as core elements in mitigating operational threats and promoting business continuity. Specific attention is given to tools like Jira and Proggio, known for their capacity to facilitate rapid responses to changes in resource allocation and risk evaluation, which enhances the effectiveness and agility of risk management processes in unstable environments. The study’s methodology includes a systematic analysis of project management frameworks and their applicability in wartime, supported by case studies illustrating the role of these tools in enhancing operational stability. The RAID approach – Risks, Assumptions, Issues, and Dependencies – is presented as a structured method for early risk identification and mitigation, which strengthens project resilience in face of uncertainties. The research findings indicate that applying project management practices in strategic risk management significantly bolsters an organization’s ability to maintain operational continuity under adverse conditions. By using RAID, organizations can address immediate risks systematically, aligning their strategies for both immediate and long-term stability. Ultimately, this research emphasizes that integrating project management into strategic risk management provides organizations with a proactive, structured approach that not only addresses immediate operational threats but also builds long-term resilience. The practical contributions of this study lie in the development of integrated strategies that support business continuity, reinforcing the adaptability and economic stability of organizations in times of crisis. By leveraging these project management tools, businesses are better prepared to withstand and respond to complex challenges posed by wartime conditions, supporting operational continuity and economic resilience in highly volatile environments.