• Risk Management in the Arctic Offshore: Wicked Problems Require New Paradigms

      Kaempf, Mandy; Haley, Sharman (Institute of Social and Economic Research, University of Alaska Anchorage, 2011-10)
      Recent project-management literature and high-profile disasters—the financial crisis, the BP Deepwater Horizon oil spill, and the Fukushima nuclear accident—illustrate the flaws of traditional risk models for complex projects. This research examines how various groups with interests in the Arctic offshore define risks. The findings link the wicked problem framework and the emerging paradigm of Project Management of the Second Order (PM-2). Wicked problems are problems that are unstructured, complex, irregular, interactive, adaptive, and novel. The authors synthesize literature on the topic to offer strategies for navigating wicked problems, provide new variables to deconstruct traditional risk models, and integrate objective and subjective schools of risk analysis.