scholarly journals Identification and Qualitative Evaluation of Risk Factors in the Construction Projects in Iraq

2021 ◽  
Vol 14 (2) ◽  
pp. 91-101
Author(s):  
Noor Aletby ◽  
Hafeth Ibrahim
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Construction Projects ◽  
Qualitative Evaluation ◽  
Qualitative Assessment ◽  
Management Process ◽  
Risk Management Process ◽  
Questionnaire Method ◽  
High Level ◽  
The Impact

Construction projects in Iraq face many dangers that cause exceeding the estimated cost of the project and not completing the project on time, and since the risk management process in construction projects is of great importance in controlling and reducing the impact of risks in construction projects, so it is necessary to identify these risks and evaluate them correctly in order to increase accuracy and the health of the subsequent stages of the risk management process in construction projects. This paper aims to identify the most important risks in construction projects in Iraq and to conduct a qualitative assessment of the identified risks and arrange them according to their importance. The researcher adopted the questionnaire method as a tool to determine the risks and used the technique of probability and effect matrix to conduct the qualitative assessment of the identified risks. The study found that there are 48 risk factors that constitute the most dangerous factor in construction projects in Iraq, and 10 of the determining factors were within the high level of risk, and at the forefront of which was the inability of the owner to finance the project.

scholarly journals THE EFFECT OF MANAGING RISK PROCESS IN CONSTRUCTION PROJECTS

2020 ◽  
Vol 5 (4) ◽  
pp. 101-114
Author(s):  
Khanm Noori Kaka HamaAttar
Keyword(s):  
Risk Management ◽  
Construction Projects ◽  
Theoretical Aspect ◽  
Risk Process ◽  
Risk Identification ◽  
Management Process ◽  
Risk Management Process ◽  
Risks Assessment ◽  
Managing Risk ◽  
The Impact

The aim of this study is to get a better understanding for the effect of the set of the risks in the construction projects, in addition to how mitigating these risks in those projects. Indeed risks are frequently playing the same rules, but the nature of project defines the specific risks of the project. The first step in process of risks assessment is identification them. Once risk identification is complete, risk analysis is used to identify the likelihood the risks that have been identified will happen. Thus by using evidence from other research in the area, this study showed the impact of the set of the stages in the risk management process in the construction projects, which were discussed in greater detail in the theoretical aspect of the current study. The findings of the study were revealed the fact that the comprehension of risk and its management has the direct effect of understanding specific issues that involve to the project. In addition to that, the integration of a risk management process at each stage of its stages in construction projects must be oriented to the progress of the project and permeate all areas, functions and processes of the project. In this regard, the most successful project managers maintain open lines of communication throughout their organizations to stay in touch with constituent’s needs.

Enhancing RCIES Model

2016 ◽  
pp. 624-643
Author(s):  
Arwa Mukhtar Makki ◽  
Tarig Mohamed Ahmed
Keyword(s):  
Risk Factors ◽  
Risk Identification ◽  
Successful Implementation ◽  
Management Process ◽  
Erp Implementation ◽  
Erp System ◽  
Strategic Risk ◽  
Risk Management Process ◽  
The Impact

Risk identification and prioritization is very essential activity in any successful strategic risk management process. Developing a plan for dealing with such problems reduces the impact of unexpected risks and failures while prioritizing risks draws attention, efforts and resources to the risks with great impact on projects success. The aim of this paper, is to identify the critical risk factors in an ERP project through a case study of a successful implementation of an ERP system in a Sudanese organization and to understand how the organization implemented the appropriate controls to minimize its business risks impact. To achieve this objective, a number of key articles were reviewed and analyzed to understand the different critical risk factors influence ERP implementation. New risk factors and controls influence ERP implementation have been identified. A new model of ERP implementation critical risk factors was developed. Furthermore, the risk factors were classified into categories, probability, impact and proximity, then using a prioritizing tool, the results of this study contributes to risks identification and prioritization by pointing to the less priority and the most critical risk factors.

scholarly journals Risk Management in SMES

2019 ◽  
Vol 82 ◽  
pp. 91-99
Author(s):  
Agnieszka Gaschi-Uciecha
Keyword(s):  
Risk Management ◽  
Management Process ◽  
Competitive Position ◽  
Research Survey ◽  
Risk Management Process ◽  
The Impact ◽  
The Way

Risk management is a process concerning not only large organizations, but also enterprises belonging to the SME sector. When this process is managed effectively, it is possible to eliminate the greatest and most frequent disturbances and also appropriately respond to the occurring changes and use the available opportunities. The activity of the SME sector and the impact of the risk management process on the competitive position of these enterprises increasingly gain significant importance. Therefore, it is worth considering how to help these enterprises to overcome the difficulties which they encounter. The article presents the results of the research conducted on enterprises from the SME sector and operating in the Silesian Voivodeship, using a research survey. The research concerned the application of risk management in these enterprises and the way of documenting it.

scholarly journals Developing a Risk Management Process for General Contractors in the Bidding Stage for Design–Build Projects in Vietnam

Buildings ◽  
2021 ◽  
Vol 11 (11) ◽  
pp. 542
Author(s):  
Duy-Hoang Pham ◽  
Dang-Huy Ly ◽  
Ngoc-Khue Tran ◽  
Yong-Han Ahn ◽  
Hyeongjae Jang
Keyword(s):  
Risk Management ◽  
Construction Projects ◽  
Local Level ◽  
Management Process ◽  
Management Objectives ◽  
Risk Management Process ◽  
Design Build ◽  
General Contractors ◽  
Bid Prices ◽  
The Cost

Design–build (DB) projects have become increasingly popular for construction projects in developing countries due to the cost and scheduling advantages and their design optimization ability. As a result, much research has been conducted on improving DB efficiency in terms of cost, scheduling, risk management, etc. However, the existing studies have mainly focused on the owner’s roles, whereas general contractors (GCs) must also take many risks on behalf of owners in DB projects. The adequate identification and assessment of risks before engaging a contractor can increase the likelihood of a project’s success, at least from a DB contractor’s perspective. Therefore, this study interviewed procurement experts to conduct a survey at the local level, then analyzed, developed, and proposed an additional risk management process (RMP) for use by GCs during the bidding process of DB projects. A case study was conducted with a large Vietnamese GC to evaluate the effectiveness of the process and find ways to optimize it in the future. The results of the study showed that risk management during a DB project is imperative. Nevertheless, preparing bids is time-consuming and increases the contingency costs, reducing the competitiveness of the bid prices for contractors. Therefore, depending on the specific project and risk management objectives, an RMP is recommended for adjusting the risk management target to reduce the risk, while still maintaining the competitiveness of the bid prices.

SELECTED METHODS FOR IDENTIFYING RISK FACTORS IN COMPARISON WITH PROJECT LIFE CYCLE AND CONSTRUCTION INVESTMENT PROCESS

2011 ◽  
Vol 162 (4) ◽  
pp. 307-324
Author(s):  
Maciej GÓRSKI ◽  
Dariusz SKORUPKA
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Life Cycle ◽  
Project Management ◽  
Construction Project ◽  
Management Process ◽  
Risk Management Process ◽  
Project Life Cycle ◽  
Investment Process ◽  
Project Life

The article describes the life cycle of a project and a construction investment process. Using the knowledge areas of project management methodologies, the authors focus on the elements of the risk management process. One of the main points of analyses was the selected methods of identifying risk factors. The focus was on the versatility, disadvantages, advantages and results of these methods for their use during a construction project.

scholarly journals RISK MANAGEMENT IN CONSTRUCTION PROJECT MANAGEMENT

2006 ◽  
Vol 7 (2) ◽  
pp. 77-83 ◽  
Author(s):  
Martin Schieg
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Real Estate ◽  
Construction Projects ◽  
Project Managers ◽  
Management Process ◽  
Construction Project Management ◽  
Highly Qualified ◽  
Risk Management System ◽  
Risk Management Process

By adopting risk management, savings potentials can be realized in construction projects. For this reason, for project managers as well as real estate developers, a consideration of the risk management process is worthwhile. The risk management process comprises 6 process steps, which will be discussed in greater detail below. The integration of a risk management system in construction projects must be oriented to the progress of the project and permeate all areas, functions and processes of the project. In this, particular importance is attached to the risks in the personnel area, for, particularly for enterprises providing highly qualified services, specialized employees are essential for market success.

scholarly journals RISKS OF INNOVATIVE ACTIVITY: ECONOMIC AND LEGAL ANALYSIS

2020 ◽  
Vol 6 (1) ◽  
pp. 67
Author(s):  
Nataliia Kuznietsova ◽  
Liudmyla Kot ◽  
Oleksii Kot
Keyword(s):  
Risk Management ◽  
Rapid Development ◽  
Legal Regulation ◽  
Innovative Activity ◽  
Management Process ◽  
Negative Consequences ◽  
Business Decision ◽  
Innovative Project ◽  
Risk Management Process ◽  
The Impact

As experience in the development of the economy of different countries shows, risk is an integral factor in a market economy. The rapid development of science and technology, the emergence of new technologies, their implementation into production, the increase in the number of innovative projects give rise to new types of risks, which, in turn, complicate social relations. The lack of a unified approach to the scientifically justified definition of risk, its features, classification criteria, as well as the lack of a conceptual and categorical component necessitates the further study of risk in law, which is reflected in the qualitative legal regulation of the relations of participants. The subjects of the research are the economic and legal aspects of innovative activity risks. Accordingly, the purpose of the article is a study of the nature of risk, the main classification features, defining the role and place of legal risks, identifying the main approaches to risk management of innovative projects. To achieve this goal, we have used the following research methods: analysis and generalization of theoretical sources and scientific literature; abstractlogical method in the process of theoretical generalizations and formation of conclusions; general scientific methods of analysis and synthesis. In the result of the research conducted it is determined that the risk of an innovative project is a set of risks that combine the elements associated with a particular innovative project, that is, for each specific project and the entity that develops, implements and manages the project will be its own set of risks. A prerequisite for business decision-making is the skills and ability to manage risk, which is to determine its acceptable limits, taking into account the potential negative consequences, which, among other things, will minimize the impact of the risk factor on the planned economic outcome of the introduction of innovation. A crucial factor in ensuring the success of the innovative risk management process is interaction at all stages, in particular during the identification, analysis, evaluation, control, monitoring of risks. Engaging and understanding the risk management process and its need for all project participants ensures the effectiveness of structural and organizational risk management measures. Effective risk management requires commitment, as well as the conscious behavior of each person. The motivation and interaction of the parties involved in the project ultimately determine the quality of the work and therefore the success of the project.

A NEW METHODOLOGY FOR ADDRESSING CLIENT RISKS IN CONSTRUCTION PROJECTS

2014 ◽  
Vol 1 (1) ◽  
Author(s):  
Abdullah Albogamy ◽  
Nashwan Dawood ◽  
Darren Scott
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Construction Projects ◽  
Risk Mitigation ◽  
Construction Project ◽  
Design Stage ◽  
Client Risk ◽  
Analysis System ◽  
The Impact ◽  
Hierarchy Process

Delay-risk factors associated with clients in a construction project have a major impact on a successful delivery on time and within budgeted cost. Risk management studies so far have not effectively managed project risk factors in a way that can assist clients in creating strategies to reduce impacts and risk. To address these issues, the study aims to provide a new methodology for analyzing and managing the risks by building a conceptual model. The study includes the development of a framework, named the client risk management model (CRMM), by integrating the findings from a literature review and a construction industry survey. A client risk analysis system was developed by integrating the analytical hierarchy process and a Monte Carlo simulation within an @Risk program. A case study demonstrated the methodology to analyze and quantify the impact of risk factors, and to create a suitable risk mitigation strategy at the design stage of a construction project. The system was found to be useful for quantifying the impact of client risks and the support in taking proactive decisions.

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