Risk Identification and Common Risks in Construction: Literature Review and Content Analysis

Siraj, Nasir Bedewi; Fayek, Aminah Robinson

doi:10.1061/(asce)co.1943-7862.0001685

Cited by 209 publications

(168 citation statements)

References 41 publications

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“…Based on the studies, it was found that anti-crisis management activities are primarily associated with managerial risk. To reduce the negative impact of this risk, we offer the following measures: advanced vocational training, knowledge and experience improvement of the employees in the area of anti-crisis management, which provides the possibility to timely identify the features of crisis events, evaluate their parameters properly, and develop and implement anti-crisis measures when it is needed; (Siraj and Fayek 2019) the provision of the proper labor conditions, the use of motivational measures, and the formation of a friendly atmosphere within the enterprise team to improve the coherence of the work of both the anti-crisis team and all structural divisions, and the enterprise in general; (Mishra et al 2019) the conduction of a careful selection of specialists for the formation of an anticrisis team, dedicated to the interests of the enterprise and the provision of the appropriate level of enterprise security, and avoiding deliberate bringing it to bankruptcy or raider seizure. (Brustbauer 2016) We propose the following ways to minimize information and communication risk: the improvement of the quality of the information through its profound check of the reliability of external sources; (Callahan and Soileau 2017) the enhancement of methods, models, and application program packages, used in the process of diagnosing and decision-making; (Oliva 2016) further development of information and communication technologies with the purpose of the information timely provision, and prevention of its loss or distortion; (Berry-Stölzle and Xu 2018) the reduction of a level of professional risk of a public accountant is possible by means of the provision of free access to information; (Fraser and Simkins 2016) the provision of valid data in the financial reporting; the use of services of adequate and reliable firms of auditors.…”

Section: Discussionmentioning

confidence: 99%

Modeling Study on Risk Identification in the Process of Anti-Crisis Enterprise Management

Shamborovskyi

Nehoda

Demidova

et al. 2021

JRFM

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The study provides solutions for the scientific task related to the improvement of theoretical and development of methodological and applied principles, and the identification and evaluation of risks and threats as factors of anti-crisis management of the enterprises. Based on the developed concept of quantitative risk analysis, we constructed a fuzzy hierarchical model, which gives the possibility to get the estimates: risk factors; specific types of threats in the framework of a process; risk processes, identified in the anti-crisis management; and the integrative risk of anti-crisis management. Furthermore, the proposed model makes it possible to identify the threats that are the risks of the highest (catastrophe) layer. The fuzzy hierarchical model construction process includes the determination of linguistic variables, term-varieties, and universal sets for quantitative evaluation of figures and risks, the establishment of parameters of the membership functions for indicators and risks, the formation of fuzzy knowledge bases, the construction of a fuzzy hierarchical model in the MATLAB environment, the evaluation of adequacy of model based on the learning sample, the correction of a model, and the adoption of a resolution regarding its final variant. The use of the model in the anti-crisis enterprise management will provide the anti-crisis team with the possibility to give early warning of all negative factors, give their quantitative evaluation, and take them into account in the course of making managerial decisions.

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Section: Discussionmentioning

confidence: 99%

Modeling Study on Risk Identification in the Process of Anti-Crisis Enterprise Management

Shamborovskyi

Nehoda

Demidova

et al. 2021

JRFM

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“…The in-depth analysis of the final literature sample was carried out by means of the research technique referred to as qualitative content analysis. In the scientific context, content analysis, in general, is an approach for identifying the most important characteristics of written research studies allowing for valid inferences [87]. It is a very useful technique to gather and organize information for obtaining insights into current trends and patterns in the considered literature sample [88].…”

Section: Qualitative Content Analysismentioning

confidence: 99%

“…It is a very useful technique to gather and organize information for obtaining insights into current trends and patterns in the considered literature sample [88]. The qualitative aspect, in particular, refers to sorting the content into groups and summarizing the key messages [87]. The results of the qualitative content analysis for the groups of (i) production planning and control supported by BIM and (ii) theory of BIM-LPS integration are presented in the next sub-sections.…”

Section: Qualitative Content Analysismentioning

confidence: 99%

The Last Planner® System and Building Information Modeling in Construction Execution: From an Integrative Review to a Conceptual Model for Integration

et al. 2020

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Many researchers have stated that lean and building information modeling (BIM) have positive synergies. This integrative literature review aims at exploring this body of knowledge within the scope of combinations of BIM and the Last Planner® System, as an important Lean construction method, in the phase of construction execution. The research motivation is to find out whether a comprehensive understanding of how to take advantage of these synergies exists. Eventually, the question arises of how to condense this understanding—if existing—into a robust conceptual model for integration. As a theoretical backbone, we will make use of the original BIM-Lean interaction matrix. The hypothesis is that new BIM functionalities have been evolved since the first formulation of this interaction matrix almost 10 years ago. These new BIM functionalities cause new interactions with existing lean principles. We will focus on interactions that refer directly or indirectly to production planning and control and use them to find the most relevant literature for this review. Within the content analysis, as a part of this review, we focus on existing conceptual models and frameworks for integration of BIM and the Last Planner® System and reveal their shortcomings. Eventually, we will propose a new conceptual model.

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“…In the existing literature related to the analysis of the PPP operational tools for urban redevelopment interventions, many contributions aimed at defining the risks for the economic investors are included [13][14][15][16][17][18][19][20].…”

Section: Introductionmentioning

confidence: 99%

The Public Role for the Effectiveness of the Territorial Enhancement Initiatives: A Case Study on the Redevelopment of a Building in Disuse in an Italian Small Town

et al. 2021

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The present research is focalized on public-private partnership (PPP) procedures as a driving force of urban sustainable development. The paper intends to point out the relevant role played by the public administrations in the implementation of these mechanisms aimed at degraded urban area renovation, public property assets enhancement, or ex novo realization. In this sense, in the existing reference literature, the private investor tasks and risks have been often explored, neglecting the significant public entities position. The efficiency in the use of the PPP is verified through the discounted cash-flow analysis (DCFA) implementation: the assessment of the costs and the revenues derived from the project allows the private investor to verify the financial feasibility of the initiative. In the context outlined, the public administration could contribute to the success of the intervention through a periodic fee paid to the private investor in order to ensure the financial convenience of the project. In the present research, a functional reconversion operation related to a building located in the small town of Cesano Romano (Italy) and carried out through the PPP operational tool, has been illustrated. In the analysis, a public monetary amount has been considered and determined, able (i) to guarantee the financial sustainability for the private investor and (ii) to comply with the regulatory constraints in the Italian context. Finally, a scenario analysis has been developed to identify the situation/s in which public participation is necessary for the convenience of the initiative and to quantify this monetary amount.

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Risk Identification and Common Risks in Construction: Literature Review and Content Analysis

Cited by 209 publications

References 41 publications

Modeling Study on Risk Identification in the Process of Anti-Crisis Enterprise Management

Modeling Study on Risk Identification in the Process of Anti-Crisis Enterprise Management

The Last Planner® System and Building Information Modeling in Construction Execution: From an Integrative Review to a Conceptual Model for Integration

The Public Role for the Effectiveness of the Territorial Enhancement Initiatives: A Case Study on the Redevelopment of a Building in Disuse in an Italian Small Town

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