Risk perceptions and approaches in multi-organizations: A research review 2000–2012

•Literature review with 105 research papers on multi-organizational project RM.•Gaps are addressed compared to the state-of-art RM perceptions and approaches.•Holistic risk perceptions and dynamic RM approaches are suggested for researchers.

Shared risks and opportunities set specific premises for risk management (RM) in temporary multi-organizations (TMOs). However, most project RM research is presented from the perspective of a single-organizational project delivery team or covers limited risk perceptions and RM approaches. This paper aims to address how well the body of knowledge on multi-organizational RM corresponds to a state-of-art understanding on project RM and to identify which gaps need to be addressed in future research. The review involves: 1) the preferred view of risk as threat and/or opportunity, 2) the nature of addressed risks as anticipated or unanticipated risks or unrealistic assumptions, 3) the role of the multi-organization as the source of risks and/or resources for risk management (RM), and 4) the allocation of risk responsibilities. The review covers research papers published between 2000 and 2012 in four journals: International Journal of Project Management (IJPM), Project Management Journal (PMJ), Journal of Construction Engineering and Management (JCEM), and IEEE Transactions on Software Engineering (TSE). 105 eligible research papers were identified. The results and conclusion outline the identified main gaps in multi-organizational RM research compared to the state-of-art RM research and TMO-specific characteristics. The results can be used to inform research agendas on more holistic and dynamic multi-organizational RM concepts.