Systematic Critical Review of Risk Management in Malaysian Construction Companies

2019 ◽  
Author(s):  
Manal Suliman Omer ◽  
A.Q Adeleke
Keyword(s):  
Risk Management ◽  
Critical Review ◽  
Construction Companies

CONCEPTUALISING RISK CULTURE ON ERM IMPLEMENTATION IN CONSTRUCTION COMPANIES

2020 ◽  
Vol 17 (1) ◽  
pp. 59
Author(s):  
Ching Ching Wong
Keyword(s):  
Risk Management ◽  
Risk Identification ◽  
The Body ◽  
Risk Indicators ◽  
Construction Companies ◽  
Risk Appetite ◽  
Risk Culture ◽  
Risk Treatment ◽  
Managing Risk ◽  
The Relationship

Enterprise Risk Management (ERM) is an effective technique in managing risk within an organization strategically and holistically. Risk culture relates to the general awareness, attitudes and behaviours towards risk management in an organisation. This paper presents a conceptual model that shows the relationship between risk culture and ERM implementation. The dependent variable is ERM implementation, which is measured by the four processes namely risk identification and risk assessment; risk treatment; monitor and consult; communicate and consult. The independent variables under risk culture are risk policy and risk appetite; key risk indicators; accountability; incentives; risk language and internal relationships. This study aims to empirically test the relationship between risk culture and ERM implementation among Malaysian construction public listed companies. Risk culture is expected to have direct effects and significantly influence ERM. This study contributes to enhance the body of knowledge in ERM especially in understanding significant of risk culture that influence its’ implementation from Malaysian perspective.

Land contamination risk management in Cameroon: A critical review of the existing policy framework

2012 ◽  
Vol 29 (4) ◽  
pp. 750-760 ◽  
Author(s):  
Osric Tening Forton ◽  
Veronica E. Manga ◽  
Aaron S. Tening ◽  
Akwinga V. Asaah
Keyword(s):  
Risk Management ◽  
Critical Review ◽  
Policy Framework ◽  
Contamination Risk

scholarly journals Measuring the performance of project risk management: a preliminary model

2019 ◽  
Vol 11 (1) ◽  
pp. 1984-1991
Author(s):  
Alfredo Federico Serpell ◽  
Ximena Ferrada ◽  
Larissa Rubio
Keyword(s):  
Risk Management ◽  
Construction Projects ◽  
Research Literature ◽  
Lessons Learned ◽  
Project Risk Management ◽  
Project Risk ◽  
Know How ◽  
Construction Companies ◽  
Important Concern ◽  
Preliminary Model

Abstract The function of project risk management (PRM) is to understand the uncertainty that surrounds a project and to identify the potential threats than can affect it as well as to know how to handle these risks in an appropriate way. Then, the measurement of the performance of PRM becomes an important concern, an issue that has not yet been addressed in the research literature. It is necessary to know how successful the application of the PRM process is and how capable is the process within the organization. Regarding construction projects, it is essential to know whether the selected responses to mitigate or eliminate identified risks were suitable and well implemented after the execution of the project. This paper presents a critical analysis of the relevance of measuring the performance of PRM and the benefits of doing so. Additionally, it presents a preliminary and pioneering methodology to measure the performance of PRM through the evaluation of the adequacy of responses applied to mitigate risks as well as to evaluate the resulting impacts as indicators of the effectiveness of these actions at the end of the project. This knowledge will allow construction companies to incorporate good practices, generate lessons learned, and thereby to promote a continuous improvement of the whole PRM process.

Organizational Internal Factors and Construction Risk Management among Nigerian Construction Companies

2017 ◽  
Vol 19 (4) ◽  
pp. 921-938 ◽  
Author(s):  
A. Q. Adeleke ◽  
A. Y. Bahaudin ◽  
A. M. Kamaruddeen
Keyword(s):  
Risk Management ◽  
Structural Equation ◽  
Positive Relationship ◽  
Moderator Variable ◽  
Significant Interaction Effect ◽  
Internal Factors ◽  
Significant Positive Relationship ◽  
Construction Companies ◽  
State Construction ◽  
Construction Risk

Significant number of empirical research works have reported contravening results regarding the effects of organizational internal factors on construction risk management. This prompted the introduction of a moderator variable. This research tested the moderating role of rules and regulations on the relationships between organizational internal factors and construction risk management. Drawing on discouragement and organizational control theory, this research studied the effects of organizational internal factors and rules and regulations on construction risk management among 238 employees operating in Abuja and Lagos State construction companies in Nigeria. Self-administered questionnaires were used to gather the data. Using the partial least squares structural equation modelling (PLS-SEM) for analysis, a significant positive relationship between organizational internal factors and construction risk management was acknowledged. This study also discovered a significant positive relationship between rules and regulations and construction risk management. As expected, rules and regulations was discovered to moderate the relationship between organizational internal factors and construction risk management, with a significant positive result. A significant interaction effect was also discovered between rules and regulations and organizational internal factors. The significance of this study on Nigerian construction industry was also highlighted.

scholarly journals Enhancing Risk Management by Partnering in International EPC Projects: Perspective from Evolutionary Game in Chinese Construction Companies

2019 ◽  
Vol 11 (19) ◽  
pp. 5332 ◽  
Author(s):  
Yujing Yang ◽  
Wenzhe Tang ◽  
Wenxin Shen ◽  
Tengfei Wang
Keyword(s):  
Risk Management ◽  
Positive Impact ◽  
Evolutionary Game ◽  
Evolutionary Games ◽  
Infrastructure Development ◽  
Interface Management ◽  
Construction Companies ◽  
Project Outcomes ◽  
Risk Management Process

Research on risk management in Engineering–Procurement–Construction (EPC) projects has received increasing attention. It is essential to integrate the resources of all participants into the risk management process optimally from the perspective of evolutionary games. The conceptual risk management model in the delivery of international EPC projects is developed in the study. Based on the data from an industry survey, the model has been validated. The path analysis shows that partnering not only directly contributes to interface management and risk management, thereby improving project outcomes, but also has a positive impact on risk management through enhanced interface management. The case study illustrates how partnering has a close linkage with interface management and risk management to achieve superior project performance, confirming the analysis of evolutionary game. The results suggest that contractors’ success in applying partnership can play an exemplary role for other contractors, and governments can create a favorable environment to stimulate participants using win–win philosophy for better infrastructure development.

scholarly journals PROJECT NETWORK MANAGEMENT: RISKS AND CONTRIBUTORS FROM THE VIEWPOINT OF CONTRACTORS AND SUB-CONTRACTORS

2015 ◽  
Vol 22 (4) ◽  
pp. 631-648 ◽  
Author(s):  
Bon Gang HWANG ◽  
Han Boey NG
Keyword(s):  
Risk Management ◽  
Network Management ◽  
The Body ◽  
Construction Companies ◽  
Body Of Knowledge ◽  
Healthy Working ◽  
Project Complexity ◽  
Project Network ◽  
Project Participants ◽  
Network Risk

Over the years, the network of construction project participants has expanded immensely. Clients have more stringent requirements due to increasing project complexity, difficulties with interaction and coordination, and uncertainties among various stakeholders. Emergent issues can bring many uncertain risks to the project execution process and yet the body of knowledge in this area, as applied to the Singapore construction environment, is insufficient. Therefore, the main objective of this study is to identify critical network risks extant in the industry in order to attain a better understanding of the attitudes of stakeholders towards network risk management. Thirtythree construction companies participated in a survey developed for this study and the analysis of the responses identified ten top critical network risks and the stakeholders who most contribute to these risks. The findings from this study will help the industry to promote a healthy working relationship among stakeholders, and will further facilitate collaboration within the project network.

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