Surrounded by complexity : decision-making on risks in a multi-actor network : a case study

The purpose of this master’s thesis was to examine how decision-making on risks is perceived in the target multi-actor network, what are the challenges and enablers experienced, and how risk-informed and risk-related decision-making could be developed. The study aimed to enhance the understanding of decision-making regarding risks in complex network environments that involve multiple actors and interfaces in the diverse context of risk management. The research design was based on a single-case study implemented in a multi-national project organization. The data collection method was a thematic interview, and the data gathered was analyzed by conducting a thematic analysis. The challenges of the decision-making process with respect to risks were considered to derive both from the intricate network environment and individual factors. Even though the multi-actor network was perceived to bring complexity into the decision-making process, the 360-degree environment was described as including several benefits, such as increased competences and valuable experience to be shared. In addition, the multi-actor network was said to provide alternative routes for managing complicated decision-making situations with its numerous channels. However, the higher the number of actors involved, the more conflicts of interest may emerge, and differing risk perceptions and preferences join the game. Even though the multi-actor network may give a rise to the external factors of bounded rationality, the impact of bounded rationality caused by the internal factors might be decreased. Several recommendations were created based on the perceptions of the interviewees to tackle the challenges perceived, enhance the enablers and benefits involved, and develop the risk decision-making process at large. Firstly, the risk management culture should be improved via various measures, such as joint planning, training, and sharing a mutual understanding of the rules, roles, and responsibilities of decision-making on risks project wide. Secondly, the effectiveness and openness in managing the information flows should be increased, covering joint risk conceptualizations and terminology. Thirdly, the effects of individual thinking and cultural dimensions on risk-informed and risk-related decision-making should be recognized and considered. Finally, despite the contractual limitations, risk management should be appraised as a joint effort which requires genuine cooperation along with respectful criticality