Assessing Risks and Opportunities within Digitalization Projects through Bayesian Networks: A Case Study of Aker Solutions' NOA Digital Project

Risk within digitalization is an increasingly relevant subject and there is no established framework on identifying risks in the development of new digital tools and processes. To this end, this thesis seeks to establish a recently developed method of utilizing Bayesian Networks to visualize risk within projects. In cooperation with Aker Solutions, the currently developing NOA Digital Project is analyzed and assessed for its risks and opportunities. By establishing a risk picture specific to the project, a generalized network of risks within digitalization projects is developed. An emphasis is put on examining how different aspects of project management and company culture affected the project’s overall risk picture, helping the identification of risk reducing measures. The generalized network and the proposed risk reducing measures of this thesis can serve as a framework for various projects across different industries and its use is illustrated by the case study of the NOA Digital Project