Risk Management in Projects

Loosemore, Martin

doi:10.4324/9780203963708

Cited by 112 publications

(134 citation statements)

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“…Concerning risk negative impacts, [3] clarified that individuals dislike risk and that each party in the CI is risk averse; consequently, RM becomes significant in eliminating or reducing risk through the various processes of RM. [4] stated that RM has various complicated dimensions relating to the CI, with results that go beyond its direct physical detriment to the financial and cultural processes, and even the way society functions. According to [5], all construction projects are hazardous by nature due to their configuration, financial and organizational arrangements, and technology and resource demands; hence, RM in construction projects is dynamic rather than stagnant.…”

Section: Introductionmentioning

confidence: 99%

Risk management in the construction industry: a new literature review

Renault

Agumba

2016

MATEC Web Conf.

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Abstract. The construction industry is well known as a highly risk prone industry owing to the complexity of its activities and dynamic project environments generating an atmosphere of risks that must be taken into consideration in the decision process. For this reason, we have developed this treatise to elucidate the fundamentals of risk management through a concise new proposal of literature review for risk management in construction. Our explanation of this is venture is that over the years, this area has been acknowledged as a crucial process in the business institutions and the most discussed subject among experts and researchers in the construction sector. We have tried in this report to present the most recent studies considering the impossibility to present all definitions of the concept of risk. This study is mainly a literature review; it looks at the literature relating to the concept of risk, risk management in construction as well as methods used in construction industry.

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Section: Introductionmentioning

confidence: 99%

Risk management in the construction industry: a new literature review

Renault

Agumba

2016

MATEC Web Conf.

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Section: Pendahuluanunclassified

“…Persoalan yang terjadi selama ini bukan karena alasan karakteristik yang unik (e.g. lingkungan dinamis) melainkan bersumber pada kesulitan dalam mengidentifikasi, menganalisis,dan mengelola risiko yang dihadapi pada setiap proyek konstruksi (Loosemore et al, 2006).Banyaknya persoalan dan meningkatnya kompleksitas manajemen risiko konstruksi dijadikan objek riset yang menantang bagi akademisi dan peneliti konstruksi. Hal ini yang mendorong body of knowledge terus tumbuh dan berkembang.…”

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Wibowo

2016

jts.

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Abstrak Tulisan ini memaparkan tinjauan kritis perkembangan riset manajemen risiko konstruksi berdasarkan analisis bibliometrik atas 243 artikel yang dipublikasikan dalam enam jurnal-international konstruksi terkemuka selama kurun waktu [2005][2006][2007][2008][2009][2010][2011][2012][2013][2014][2015] . PendahuluanStudi dan pemahaman tentang manajemen risiko pada proyek konstruksi terus berkembang-meski masih dirasa kurang ekstensif dibandingkan apa yang terjadi dalam ranah ekonomi (Lee et al., 2015). Namun, pengalaman empiris terus memerlihatkan proyek konstruksi masih berkutat dengan persoalan-persoalan keterlambatan penyelesaian, kenaikan biaya realisasi, ketidaksesuaian ruang lingkup, dan/ atau ketakterpenuhan spesifikasi pekerjaan yang telah direncanakan.Flanagan dan Norman (1993) berargumen proyek konstruksi memiliki risiko dan ketidakpastian lebih tinggi dari apa yang terjadi pada kegiatan lainnya. Meski argumentasi ini tidak sepenuhnya disepakati namun diyakini memang ada persoalan dengan manajemen risiko proyek konstruksi. Persoalan yang terjadi selama ini bukan karena alasan karakteristik yang unik (e.g. lingkungan dinamis) melainkan bersumber pada kesulitan dalam mengidentifikasi, menganalisis,dan mengelola risiko yang dihadapi pada setiap proyek konstruksi (Loosemore et al., 2006).Banyaknya persoalan dan meningkatnya kompleksitas manajemen risiko konstruksi dijadikan objek riset yang menantang bagi akademisi dan peneliti konstruksi. Hal ini yang mendorong body of knowledge terus tumbuh dan berkembang. Namun, di sisi lain belum ada upaya akademis yang secara sistematis didedikasikan melakukan kajian kritis atas perkembangan riset-riset dalam ranah ini secara mendalam, setidaknya di Indonesia. Padahal, kajian ini signifikan untuk setidaknya tiga alasan: memetakan evolusi keilmuan manajemen risiko konstruksi dari tahun ke tahun; memberikan lansekap riset berikutnya sehingga replikasi dan repetisi riset yang tidak perlu dapat dihindari; dan penting untuk eksplorasi status riset terkini (state of the art) dan tren riset ke depannya

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“…Risk is a complex phenomenon that has physical, monetary, cultural and social dimensions [14]. The consequences of risk events go well beyond the direct physical harm to financial or physical assets, people or ecosystems.…”

Section: The Need For Risk Assessment Methodsmentioning

confidence: 99%

“…The consequences of risk events go well beyond the direct physical harm to financial or physical assets, people or ecosystems. The effects include the way a society operates and people think [14].…”

Section: The Need For Risk Assessment Methodsmentioning

confidence: 99%

Risk assessment methods for life cycle costing in buildings

2016

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Abstract. Purpose. There has been a growing consciousness of the significance of considering the costs of buildings and of developing financial methods to evaluate the life cycle costs (LCC) of buildings in use. Before any decision to invest capital in a building project or existing infrastructure is taken, it is essential that all corporate occupants and stakeholders in the policymaking practice are fully aware of the risks that are inherent as any LCC estimate will always involve a degree of risk exposure. Design/methodology/approach. Questionnaire survey to 120 construction professionals was used to gauge the current level of awareness, usage and advocated benefits of risk assessment methods in LCC. The questionnaire comprised three main sections each exploring different parts of the research question. Findings. The key findings of the statistical analysis indicated that there is a low awareness and usage of risk assessment methods and four factors were the most advocated benefits of its application to corporate occupiers and decision makers. This study fills the gap in the existing knowledge by addressing concerns over risk assessment to improve the confidence in LCC. Research limitations/implications. Although the data used in this paper was from professionally qualified members of either the Royal Institution of Chartered Surveyors (RICS), the Chartered Institute of Building (CIOB) and the British Institute for Facilities Management (BIFM), the research is limited in some ways in that it does not cover all the professionals in the construction industry. Nevertheless, all the professionals who responded to the questionnaire have up-to-date level of awareness of risk assessment methods in life cycle costing. Practical implications. As a result of growing awareness of whole life costing among corporate occupants and facilities managers in contemporary building projects, precise assessment of cost is a challenging undertaking as it consists of some measure of risk with regards to the running and maintenance costs during the entire life of the buildings. Thus, the existence of considerable improbability and doubt regarding cost and time evidence of an LCC study would have mind blowing implications on final results and consequently have minute bearing on subsequent decisions made by corporate occupiers. Social implications. Value for money for construction products and its facilities should not be viewed only in terms of costs to design and construction. Rather, it is vital for corporate occupants and society in general to consider other key variables such as operations, maintenance, renovation, replacement, and end of life costs. Originality/value. This paper contributes with new outlooks aimed at assessing the current level of awareness, usage and advocated benefits of risk assessment methods in LCC and adds to the limited empirical studies on risk assessment to corporate occupants and decision makers.

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Risk Management in Projects

Cited by 112 publications

References 0 publications

Risk management in the construction industry: a new literature review

Risk management in the construction industry: a new literature review

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Risk assessment methods for life cycle costing in buildings

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