Abstract

This paper aims to highlight the challenges faced by project risk management in Latin American projects due to the COVID-19 pandemic. The study focuses on the impact of this health crisis on risk management, the measures risk managers took to mitigate the risks, and the lessons learned to apply in the future. A qualitative research approach was used, including a survey of twenty specialist professionals to understand how the pandemic affected the critical elements of risk management. In addition, a literature review was conducted to identify recommended measures for project management in times of crisis. The study found that the surveyed projects in Latin America were significantly impacted by the pandemic's materialization, which was not initially contemplated by risk management. The research emphasizes the need to adapt risk management for project management in environments of massive disruption, such as a pandemic. This paper delivers a new perspective on project risk management by compiling successful practices during the health crisis.