The study is based on designing and analyzing a methodology that improves the project risk management process by having efficient monitoring system. The monitoring should be based on the risk sensitivity of the various parameters of the project. These parameters, derived through exhaustive literature survey and expert advice, are given special references while monitoring the project for risk analysis. Six Sigma level of accuracy is conceptualized in this study for electrical transmission line installation projects. On analyzing the possibility of risk occurrence on Sigma levels for each pre-decided parameter, it is found that technical parameters have got the maximum number of risks associated with them. The methodology proposed in the paper provides a guideline for risk monitoring for electrical transmission line installation projects.

Project is a set of unique activities that are performed to achieve a particular goal. The project needs to be managed. It can be very well said that certain projects need very accurate monitoring to achieve the results or desired parameters for the customer. Project needs are to be managed for deriving such results. The term project management actually implies the set of whole activities starting from the initializing phase of a project to the final post project evaluation and it has been studied by various authors like Marques et al. (2013), Lindkvist et al. (2013), Nahod et al. (2013), Stare (2014), and Smitha (2014). Project management is very essential for churning out the desired outcomes from a project within the applied constraints. This is possible only when project managers have a strict continuous control over the project-related activities.

The continuous tracking of any project is possible only when there is a structured mechanism to be followed for monitoring. In this study, the case of an electrical transmission line installation project is taken in order to analyze the need for monitoring of a project on a continuous basis and in a professional order. The projects are unique in characteristics, so a tailor-made system is needed for developing this monitoring procedure for each type of project. In the present study, existing technique of control like ‘lean Six Sigma’ is contemplated for monitoring such processes in a project. Further, special attention has been given to the problem of inaccurate monitoring of project parameters.

Operations Management Journal, Electrical Transmission Line, Power Grid Corporation of India Limited, National Thermal Power Corporation, State Power Transmission Boards, Installation Projects, A Six Sigma Approach, Project Risk Management.