Literature review – relationship between derivatives and risk management and the concept of risk management efficiency and its measurement

2019 ◽  
pp. 24-70
Author(s):  
Shahsuzan Zakaria ◽  
Sardar M. N. Islam
Keyword(s):  
Risk Management ◽  
Literature Review ◽  
Management Efficiency

Achieving sustainability through integrating risk management into the architectural design process

2018 ◽  
Vol 16 (1) ◽  
pp. 25-43 ◽  
Author(s):  
Ayman Ahmed Ezzat Othman ◽  
Nermeen Mohamed Amin Abdelwahab
Keyword(s):  
Risk Management ◽  
Literature Review ◽  
Field Study ◽  
Design Process ◽  
Construction Projects ◽  
Architectural Design ◽  
Sustainable Construction ◽  
Content Type ◽  
Scant Attention ◽  
Design Firms

Purpose The purpose of this paper is to develop a framework integrating risk management (RM) into the architectural design process (ADP) as an approach for delivering sustainable construction projects. Design/methodology/approach A research methodology, which consisted of literature review and field study, is designed to accomplish four objectives. First, to provide a comprehensive literature review of the concepts of sustainability, ADP and RM. Second, to present and synthesis the results of two relevant studies focused on identifying, quantifying and classifying the risks associated with ADP; and investigating the perception and application of Egyptian architectural design firms (ADFs) towards integrating RM into ADP as an approach for delivering sustainable construction projects. Third, to develop a framework that integrates RM into ADP towards delivering sustainable construction projects. Finally, to draw conclusions and recommendations to improve the practice of delivering sustainable construction projects among ADFs, construction professionals and governmental authorities. Findings ADP is a fundamental phase of the construction process because the decisions adopted during this phase affect the project performance throughout its life cycle. While RM is widely applied in different sectors of the construction industry, its application in ADP received scant attention in construction literature. The research identified 18 key risks that affect the sustainable delivery of construction projects during ADP. The architect, the client and the project manager are the highest ranked responsible parties for the occurrence of these key risks. The field study highlighted the need to develop a framework to facilitate integrating RM into ADP. Research limitations/implications This paper focused only on the integration of RM into ADP. Originality/value The conducted literature review and field study provided an in-depth understanding of the key risks that affect the sustainable delivery of construction projects during ADP. Through its five stages, the proposed framework is expected to serve as a foundation for integrating RM into ADP as an approach for delivering sustainable projects. This ideology has received scant attention in construction literature. The developed framework represents a synthesis that is novel and creative in thought and adds value to the knowledge in a manner that has not previously occurred.

A critical analysis of supply chain risk management content: a structured literature review

2017 ◽  
Vol 14 (1) ◽  
pp. 69-90 ◽  
Author(s):  
Surya Prakash ◽  
Gunjan Soni ◽  
Ajay Pal Singh Rathore
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Literature Review ◽  
Critical Analysis ◽  
Future Research ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Marked Rise ◽  
Content Type ◽  
Risk Management Process

Purpose The research on supply chain risk management (SCRM) is visibly on the rise, although its literature still lacks the state of the art that critically analyzes its content. The SCRM literature seems to require studies that utilize risk typology, sources of risk, etc. for reviewing the topic. The purpose of this paper is to bridge the gap by synthesizing the information obtained from 343 articles across 85 journals. This study also presents a critical analysis of the content of SCRM in a structured manner to identify the directions for future research. Design/methodology/approach A systematic literature review (SLR) was devised and adopted, which involved the selection, classification, and evaluation of 343 research articles published over a period of 11 years (2004-2014). The content of extant SCRM literature was critically analyzed and synthesized from the perspective of the risk management process (RMP). Findings The analysis of extant literature shows that there is a marked rise in research in the SCRM area, especially after the year 2005. It was observed that not only risk but also different forms of uncertainties make supply chain (SC) operations difficult to manage. The SCRM actions yielded most benefits when their implementation was at chain or network level and managed strategically. The analysis also reveals that the manufacturing sector is most affected by risks and highly investigated by researchers. Practical implications A complete process for SCRM based on risk stratification, objectives of risk management, and RMP will be a guiding model for firms to manage risks. The research gaps identified and future directions provided here will encourage researchers and managers to devise new methods, tools, and techniques to address the risks in modern SC operations. Originality/value An SLR and risk-based content classification of SCRM literature were performed. To identify, locate, select, and analyze the SCRM literature, a structured and systematic process was adopted with some very rarely used methods such as two levels of search keywords, and strings were formulated to locate the most relevant articles in major academic databases.

Optimising building performance through integrating risk management and building information modelling during the design process

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ayman Ahmed Ezzat Othman ◽  
Fatma Othman Alamoudy
Keyword(s):  
Risk Management ◽  
Literature Review ◽  
Case Studies ◽  
Design Process ◽  
Building Performance ◽  
Building Information Modelling ◽  
Content Type ◽  
Information Modelling ◽  
Building Information

Purpose This paper aims to develop a framework for optimising building performance through the integration between risk management (RM) and building information modelling (BIM) during the design process. Design/methodology/approach To achieve this aim, a research strategy consisting of literature review, case studies and survey questionnaire is designed to accomplish four objectives. First, to examine the concepts of design process, building performance, RM and BIM; second, to present three case studies to explain the role of using RM and BIM capabilities towards optimising building performance; third, to investigate the perception and application of architectural design firms in Egypt towards the role of RM and BIM for enhancing building performance during the design process; and finally, to develop a framework integrating RM and BIM during the design process as an approach for optimising building performance. Findings Through literature review, the research identified 18 risks that hamper optimising building performance during the design process. In addition, 11 building performance values and 20 BIM technologies were defined. Results of data analysis showed that “Design budget overrun”, “Lack of considering life cycle cost” and “Inefficient use of the design time” were ranked the highest risks that affect the optimisation of building performance. Respondents ranked “Risk avoid” or “Risk transfer” as the most risk responses adopted in the Egyptian context. In addition, “BIM As Built” was ranked the highest BIM technology used for overcoming risks during the design process. These findings necessitated taking action towards developing a framework to optimising building performance. Originality/value The research identified the risks that affect optimising building performance during the design process. It focuses on improving the design process through using the capabilities of BIM technologies towards overcoming these risks during the design process. The proposed framework which integrates RM and BIM represents a synthesis that is novel and creative in thought and adds value to the knowledge in a manner that has not previously occurred.

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