This paper aims to outline the selected issues of risk management in construction
enterprises operating in the Silesian and Małopolskie voivodships (Poland). In this
context, it seems vitally important to have risk accurately identified, quantified
and, consequently, responded to in the right way. Although the paper is mainly
empirical in its character, it is based on a theoretical background, particularly when
it comes to risk management in the construction industry, which is referred to in
the literature on the subject as CRM (Construction Risk Management). The paper
contains a review of the literature in this field and uses the method of synthesis.
It emphasises the applicability and methodology of the issues discussed here, i.e.
those which were verified in the empirical research conducted among construction
contractors as participants of investment and construction processes.
A variety of insurance options are used when managing risk in the construction industry. Numerous insurers operating on the Polish market provide suitable types of insurance, thus allowing participants of a construction process to obtain a comprehensive cover against almost all potential risks. Therefore, ‘all-risks’ types of insurance is of particular importance in case of construction and assembly activities. In addition to this instrument, the paper also deals with other forms of insurance used in the construction sector in Poland, which apply to various aspects of activities conducted by actors involved a construction project. This is the main topic of the paper, which also outlines the theory on the subject as well as providing the results of empirical research carried out in this area and emphasizing the practical applicability of the discussions. Consequently, the key aim of the paper is to present the issues related to insurance in the construction industry as a method of financing risk in operations of construction companies. The paper adopts a synthetic approach to these issues. The paper also reviews the related scholarly literature.
The paper deals with risk response planning and risk response as separate stages of a risk management process in investment projects carried out in the construction industry. Response planning and risk responses are integral parts of the entire process. In particular, the author focuses on the methods and techniques, which may be employed by construction and assembly companies in their operations. The empirical illustrations in the paper are the results of the research done among twentysix, out of one hundred, biggest construction and assembly companies in Poland. The paper also presents some pieces of the empirical research conducted in the USA among big and mediumsized construction companies.
Public healthcare organizations usually operate under significant financial strain and frequently strive for survival. Thus, in most cases, financial stability is a “holy grail” of public healthcare organizations in general and hospitals in particular. The financial stability itself is partly dependent upon the ability to manage risk associated with hospital actions. In the paper, we seek to address the question related to the moderating role of stakeholders’ engagement in the relationship between risk management practices and a hospital’s financial stability. To answer this question, we designed and carried out empirical research on a sample of 103 out of 274 Polish public hospitals operating at the first-level (closest to the patient). Results show that risk management practices are positively related to financial stability. Hospitals with well-developed risk management practices are better prepared and find appropriate answers to threats, helping them attain financial stability. We also found that stakeholder engagement acts as a moderator of the relationship between risk management practices and financial stability. Research results indicate that with more sophisticated risk management practices, stakeholder engagement in decision-making leads to statistically lower financial stability. On the other hand, high levels of stakeholders’ engagement help when risk management practices are underdeveloped.
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