Strategic risk assessment for pursuing sustainable business in the construction industry: diagnostic models

2013 ◽  
pp. 155-177 ◽  
Author(s):  
Nicholas Chileshe ◽  
Lou Wilson ◽  
Jian Zuo ◽  
George Zillante ◽  
Stephen Pullen
Keyword(s):  
Risk Assessment ◽  
Construction Industry ◽  
Sustainable Business ◽  
Strategic Risk ◽  
Diagnostic Models

The Halo Effect in Business Risk Audits: Can Strategic Risk Assessment Bias Auditor Judgment about Accounting Details?

2005 ◽  
Vol 80 (3) ◽  
pp. 921-939 ◽  
Author(s):  
Ed O'Donnell ◽  
Joseph J. Schultz
Keyword(s):  
Risk Assessment ◽  
Performance Evaluation ◽  
Laboratory Experiments ◽  
Halo Effect ◽  
Risk Assessments ◽  
Business Risk ◽  
Auditor Judgment ◽  
Strategic Risk ◽  
Strategic Assessment ◽  
Assessment Bias

Many auditors use an audit methodology that requires a strategic risk assessment of their client's business model as a first step for assessing audit risks. This study examines whether the holistic perspective that auditors acquire in making a strategic risk assessment influences the extent to which they adjust account-level risk assessments when they encounter changes in accounts that are inconsistent with information about client operations. Based on halo theory from the performance evaluation literature, we hypothesize that auditors who (1) perform (do not perform) strategic assessment, and (2) develop favorable (unfavorable) strategic risk assessments, are less (more) likely to adjust account-level risk assessments for inconsistent fluctuations. Data from two laboratory experiments using experienced auditors support both hypotheses. Findings suggest that the halo effect generated during strategic assessment influences judgment by altering auditor tolerance for inconsistent fluctuations.

scholarly journals A Systematic Literature Review on Sustainability in Family Firms

2021 ◽  
Vol 13 (7) ◽  
pp. 3824
Author(s):  
Carla Curado ◽  
António Mota
Keyword(s):  
Construction Industry ◽  
Social Inclusion ◽  
Family Firms ◽  
Small And Medium Enterprises ◽  
Futures Studies ◽  
Sustainable Business ◽  
Bottom Line ◽  
Medium Enterprises ◽  
Corporate Social ◽  
Market Pressures

In this study, we explore the research published from 2015 to 2020 on the importance of family firms (FFs) to sustainability. Our results come from a content analysis of 28 studies on this topic. Further, they deal with small and medium enterprises (SMEs) in the construction industry in Italy and Spain. These studies mainly follow a quantitative approach with data from a survey. This study’s main contribution regards the identification of three sorts of aspects associated to sustainability in FFs which match the three pillars of the triple bottom line approach that supports sustainable business development: social inclusion, economic development, and environmental protection. Our findings show that the family’s religiosity, reputation, and image play relevant roles in the FFs’ adoption of sustainable practices. Moreover, the CEO and their successor’s choices also have consequences for sustainability. These studies demonstrate how the family’s control, its values, and the industry influence the adoption of corporate social responsibility (CSR) practices. FFs go green by adopting eco-innovation to adapt to the constantly changing environment and market pressures. We acknowledge the limitations of the study. We offer advice to colleagues when developing future futures studies to address the influence of cultural differences between FFs and non-FFs and suggest they perform comparative analyses. This research could lead to further investigation of the effects of other variables that may influence sustainability in the context of FFs.

Causal factors and risk assessment of fall accidents in the U.S. construction industry: A comprehensive data analysis (2000–2020)

2022 ◽  
Vol 146 ◽  
pp. 105537
Author(s):  
Yahia Halabi ◽  
Hu Xu ◽  
Danbing Long ◽  
Yuhang Chen ◽  
Zhixiang Yu ◽  
...  
Keyword(s):  
Risk Assessment ◽  
Data Analysis ◽  
Construction Industry ◽  
Causal Factors ◽  
Comprehensive Data ◽  
The U.S ◽  
Fall Accidents

Risk Assessment and Management in Hospital Merger and Acquisition

2017 ◽  
Vol 23 (2) ◽  
Author(s):  
Fei Ren ◽  
Li Han
Keyword(s):  
Risk Assessment ◽  
Financial Risk ◽  
Economic Losses ◽  
Chinese Government ◽  
System Reform ◽  
Core Competitiveness ◽  
Strategic Risk ◽  
The People ◽  
Quantitative Analysis Method ◽  
Risk Assessment And Management

Abstract: In recent years, the Chinese government has introduced a series of policies to promote the health care reform and further promote the hospital industry towards marketization, which makes the hospital M & A continue to heat up. In order to effectively integrate the existing resources, expand the operation scale, strengthen the comprehensive strength, improve the hospital's core competitiveness, make the M & A behavior more scientific to promote the deepening of the medical system reform, this paper studies the risk evaluation and management of M & A based on the theory of hospital M & A. The risks in the current M & A include financial risk, strategic risk, transaction risk, integration risk, etc. These risks will restrict the future development of hospitals, and even lead to the failure of mergers and acquisitions and huge economic losses. Therefore, correct risk assessment and management is the key to the success of M & A. By applying the qualitative identification method, the quantitative analysis method and the expert investigation method as well as making corresponding management adjustment and countermeasures, the risk probability can be reduced and the success rate of M & A can be improved so as to realize the strategic goal. In the hospital M & A, the use of risk assessment and management can prevent and evade risks, which enables the industry chain to extend, helps the development of the industry and provides better medical and health services for the people. 

scholarly journals Construction Schedule Risk Assessment and Management Strategy for Foreign General Contractors Working in the Ethiopian Construction Industry

2021 ◽  
Vol 13 (14) ◽  
pp. 7830
Author(s):  
Min-Yuan Cheng ◽  
Mohammadzen Hasan Darsa
Keyword(s):  
Risk Factors ◽  
Risk Assessment ◽  
Construction Industry ◽  
Management Strategy ◽  
Assessment Model ◽  
Project Schedule ◽  
Schedule Delay ◽  
General Contractors ◽  
Schedule Risk ◽  
Construction Schedule

Construction project schedule delay is a worldwide concern and especially severe in the Ethiopian construction industry. This study developed a Construction Schedule Risk Assessment Model (CSRAM) and a management strategy for foreign general contractors (FGCs). 94 construction projects with schedule delay were collected and a questionnaire survey of 75 domain experts was conducted to systematically select 22 risk factors. In CSRAM, the artificial neural network (ANN) inference model was developed to predict the project schedule delay. Integrating it with the Garson algorithm (GA), the relative weights of risk factors with rankings were calculated and identified. For comparison, the Relative Importance Index (RII) method was also applied to rank the risk factors. Management strategies were developed to improve the three highest-ranked factors identified using the GA (change order, corruption/bribery, and delay in payment), and the RII (poor resource management, corruption/bribery, and delay in material delivery). Moreover, the improvement results were used as inputs for the trained ANN to conduct a sensitivity analysis. The findings of this study indicate that improvements in the factors that considerably affect the construction schedule can significantly reduce construction schedule delays. This study acts as an important reference for FGCs who plan to enter or work in the Ethiopian construction industry.

scholarly journals APPLIED RISK MANAGEMENT IN CONSTRUCTION INDUSTRY: A REVIEW

2020 ◽  
Vol 5 (3) ◽  
pp. 234-240
Author(s):  
Chaiwat Pooworakulchai
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Risk Analysis ◽  
Construction Industry ◽  
Master Planning ◽  
Construction Work ◽  
The Past ◽  
Risk Monitoring ◽  
Complex Manner

Risk management was applied to many organizations. There was a risk of multiple and complex manner in the construction industry, because it has a variety of elements. The application of risk management was therefore used in solving problems that suffer from the past to create an alternative to proper functioning under conditions. This article studied the main application to risk management in the construction industry by the sample texts document. The applying of risk management in the construction industry was 3 stages of risk management which were the risk analysis, risk assessment, risk control and follow-up, which was used to store information in the past and brainstorm by virtue of experience, expert tips and techniques to determine the risk analysis and risk evaluation of a mathematical methodology combined with the master planning of construction work to analyze, evaluate the risk under different condition and situations. Control, risk monitoring and risk assessment were a small amount so it should be a topic of research in future rely on notes and update the plan. The three important things for the applying of risk management in the construction industry were personnel, information and continuous learning.

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