scholarly journals Developing a Risk Management Framework in Construction Project Based on Agile Management Approach

2019 ◽  
Vol 5 (3) ◽  
pp. 608
Author(s):  
Mohammed Neamah Ahmed ◽  
Sawsan Rasheed Mohammed
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Construction Projects ◽  
Construction Project ◽  
Management Approach ◽  
Management Framework ◽  
Contact Points ◽  
Risk Management Framework ◽  
Management Concepts ◽  
Flexible Management

Construction projects in nature, carry a lot of risks, and unpredictable conditions. Thus, flexible management is required for the purpose of efficient responding to the various changes appear during their implementation. As an attempt to deal with risk in the construction project, this research aims at proposing a risk management framework in construction projects that built based on Agile management concept, which is a sequence of procedure deals with the project’ primary vision to its final delivery. The risk management framework will trace alignment and discover a contact between Agile and traditional project management concepts and find contact points among two of the more used Agile frameworks (Scrum) and one of the more confirmed project management framework (PMBOK®) processes. This will result in a recognition of comparable areas between Scrum and PMBOK® processes. The goal of the framework is to assist the project managers to adapt a more flexible approach to managing and implementing the construction project. The results proved that Agile management process from the create prioritized project backlog, sprint planning, sprint review, to sprint retrospective procedures and less time of the cycle, eliminate or mitigate many risks that lead to project challenges and failure.

Risk Management Framework That Meets the Implementation Challenges in IT-Centric Micro and Small Companies

2013 ◽  
Vol 4 (2) ◽  
pp. 16-26 ◽  
Author(s):  
Jasmina Trajkovski ◽  
Ljupcho Antovski
Keyword(s):  
Risk Management ◽  
Management Approach ◽  
Small Companies ◽  
Management Framework ◽  
East Europe ◽  
Implementation Challenges ◽  
South East Europe ◽  
Risk Management Framework ◽  
Management Concepts ◽  
Comprehensive Framework

This paper presents an overview of the proposed risk management framework and how it is designed to meet the challenges usually faced by IT-centric micro and small companies when implementing risk management. The issues and challenges identified for the IT-centric micro and small companies are centered around the exposure to various risks and necessity to have a risk management approach which covers these various risks, as well as to limited resources for risk management and necessity for usable and comprehensive framework. The new framework is based on the analysis of the best practices in risk management concepts as well as direct experience from dealing with over 20 companies in South-east Europe. The segments covered by the framework include people, policy, methodology and process, and tools.

scholarly journals Applying the water safety plan to water reuse: towards a conceptual risk management framework

2015 ◽  
Vol 1 (5) ◽  
pp. 709-722 ◽  
Author(s):  
D. Goodwin ◽  
M. Raffin ◽  
P. Jeffrey ◽  
H. M. Smith
Keyword(s):  
Risk Management ◽  
Water Reuse ◽  
Management Approach ◽  
Water Safety ◽  
Management Framework ◽  
Risk Management Framework ◽  
Safety Plan ◽  
Research Programmes ◽  
Water Safety Plan ◽  
Guidelines And Standards

The Water Safety Plan (WSP) is receiving increasing attention as a recommended risk management approach for water reuse through a range of research programmes, guidelines and standards.

Fuzzy Analytic Hierarchy in Project Risk Management - New Stadium Construction Project in Weifang City

2011 ◽  
Vol 243-249 ◽  
pp. 6362-6368
Author(s):  
Yan Zhang ◽  
Chang Jiang Liu
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Construction Projects ◽  
Large Scale ◽  
Construction Project ◽  
Construction Project Management ◽  
Analytic Hierarchy ◽  
Project Risk ◽  
Management Case Study

In the field of engineering and construction, unqualified construction quality, time delays, cost more than expected phenomena to occur. Because of these characteristics such as its large-scale construction projects, long cycle, the production of single and complex, there is greater risk than the production of general products, the risk increases the difficulty of construction project management, operating costs and the possibility of potential losses, therefore, risk management emerged and become an increasingly important integral part of project management. In this paper, fuzzy analytic hierarchy be used to construction project risk assessment, and to order the sort of each risk in order to prevent significant risks. On an actual project - the new stadium construction in Weifang City risk management case study, the reduction of risk of project failure is expected, but also the project is hoped for other industries to provide some reference for risk management.

scholarly journals RISK MANAGEMENT IN PROJECTS: PECULIARITIES OF LITHUANIAN CONSTRUCTION COMPANIES / RIZIKOS VALDYMAS PROJEKTUOSE: LIETUVOS STATYBOS ĮMONIŲ SAVITUMAI

2011 ◽  
Vol 15 (1) ◽  
pp. 60-73 ◽  
Author(s):  
Nerija Banaitienė ◽  
Audrius Banaitis ◽  
Artūras Norkus
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Construction Projects ◽  
Construction Project ◽  
Critical Factor ◽  
Construction Project Management ◽  
Construction Companies ◽  
Use Of Resources ◽  
Risk Management Process ◽  
Negative Impacts

Risk analysis and management is nowadays a critical factor to successful construction project management, as construction projects tend to be more complex, dynamic, always unique, and competition increasingly tougher. risk management helps the project participants—client, contractor or developer, consultant, and supplier—to meet their commitments and minimize negative impacts on construction project scope, cost, schedule (and quality, as a Result). The benefits of the risk management process include identifying and analyzing risks, and improvement of construction project management processes and effective use of resources. This paper reports the research that aims to discover how construction companies perceive the significance of the construction projects risks they face and the extent to which they employ potential risk responses. Santrauka Šiandien rizikos analizė ir valdymas yra svarbūs sėkmingam statybos projektų valdymui, nes statybos projektai tampa vis sudėtingesni, dinamiškesni, visada unikalūs, o konkurencija tarp statybos bendrovių taip pat didėja. Rizikos valdymas padeda projekto dalyviams—užsakovui, plėtotojui, rangovui, konsultantui ir tiekėjui—vykdyti savo įsipareigojimus ir sumažinti neigiamą taką statybos projekto apimčiai, išlaidoms, tvarkaraščiui ir kokybei kaip rezultatui. Rizikos valdymo proceso metu sistemingai nustatomi, analizuojami ir reaguojama į potencialius rizikos veiksnius, todėl statybos projektai valdomi efektyviau, veiksmingai naudojami ištekliai. Šiame straipsnyje trumpai pristatomas tyrimas, kuriuo siekiama sužinoti, kaip statybos bendrovės suvokia statybos projektų rizikos veiksnius, su kuriais jiems tenka susidurti, ir kokią reagavimo strategiją ir atsakomuosius veiksmus jos renkasi.

Development of Project Risk Management framework based on Industry 4.0 technologies

2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Santosh B. Rane ◽  
Prathamesh Ramkrishana Potdar ◽  
Suraj Rane
Keyword(s):  
Risk Management ◽  
Industry 4.0 ◽  
Construction Projects ◽  
Construction Project ◽  
Project Risk Management ◽  
Project Risk ◽  
Content Type ◽  
Risk Management Framework ◽  
Heavy Equipment ◽  
Efficiency And Effectiveness

Purpose The purpose of this paper is to identify the risks involved in the construction project based on a literature survey (LS), to develop a project risk management (PRM) framework based on Industry 4.0 technologies and to demonstrate the developed framework using Internet of Things (IoT) technology. Design/methodology/approach A comprehensive LS was carried out to know the different risks involved in the construction project and developed a PRM framework based on Industry 4.0 technologies to increase the effectiveness and efficiency of PRM. Heavy equipment and parameters were identified to demonstrate the developed framework based on IoT technology of Industry 4.0. Findings This paper demonstrates Industry 4.0 in the various stages of PRM. LS has identified 21 risks for a construction project. The demonstration of the PRM framework has identified the sudden breakdown of equipment and uncertainty of equipment as one of the critical risks associated with heavy equipment of construction project. Research limitations/implications The project complexity and features may add a few more risks in PRM. Practical implications The PRM framework based on Industry 4.0 technologies will increase the success rate of the project. It will enhance the efficiency and effectiveness of PRM. Originality/value The developed framework is helpful for the effective PRM of construction projects. The demonstration of PRM framework using IoT technology provides a logical way to manage risk involved in heavy equipment used in a construction project.

scholarly journals Risk Management Analysis of Follow-up Audit in the Construction Stage of Construction Projects

2021 ◽  
Vol 2 (2) ◽  
Author(s):  
Yongjun Luo
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Project Management ◽  
Construction Industry ◽  
Construction Projects ◽  
Construction Project ◽  
Construction Project Management ◽  
Construction Process ◽  
Construction Stage

The construction project serves as one of the most important projects in the construction industry. The high cost and the particularity in the implementation generate high risks in the investment and construction process. Over the years, the development of construction project management methods has promoted the management of risk factors. This paper reviews the suggestions of risk management of follow-up audit in construction stage and evaluates its application in construction projects.

A study of ontology-based risk management framework of construction projects through project life cycle

2009 ◽  
Vol 18 (7) ◽  
pp. 994-1008 ◽  
Author(s):  
H. Ping Tserng ◽  
Samuel Y.L. Yin ◽  
R.J. Dzeng ◽  
B. Wou ◽  
M.D. Tsai ◽  
...  
Keyword(s):  
Risk Management ◽  
Life Cycle ◽  
Construction Projects ◽  
Management Framework ◽  
Risk Management Framework ◽  
Project Life Cycle ◽  
Project Life
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