A Guide for Risk Management in Construction Projects: Present Knowledge and Future Directions

Çakmak, Pınar Irlayıcı; Tezel, Ecem

doi:10.5772/intechopen.84361

Cited by 6 publications

(8 citation statements)

References 61 publications

(55 reference statements)

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“…Most of this may not be appropriate (Tavakolan & Mohammadi, 2018). Previous researches argued on the role of scope plan (Cakmak & Tezel, 2019), cost plan (Chapman, 2019) and risk plan (Obondi, 2020).…”

Section: Stratford Peer Reviewed Journals and Book Publishing Journal...mentioning

confidence: 99%

Project Planning Practices and Performance in Rwanda: A Case of Umurimo Kuri Bose Project in Rwamagana District

Abanyagasani,

Gitahi

2023

JEPM

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Nobody sets out to fail, yet projects are still failing to reach to their intended objectives. This cross-sectional research design investigated effect of project planning practices and project performance, evidence from Umurimo Kuri Bose in Rwamagana District, Rwanda. Specifically, this study sought to analyse the effect of project scope planning, and project risk planning on project performance, a case of Umurimo Kuri Bose Project. The population of this research was beneficiaries of Umurimo Kuri Bose, a project implemented by education development center in Rwamagana district and local leaders in Rwamagana district. Total population were 906 and sample size was 279 calculated using Yamane formula. Both simple random and purposive sampling techniques were employed. Regarding to first objective of this study, the findings showed that 50.5% concurred that, identifying project activities significantly contribute to the performance of Umurimo Kuri Bose Project, and about 46.5% strongly agreed that estimation significantly contributes to the performance of the project while 37.7% asserted that identifying risk and their risk response is the main contributor of project performance. During the interview, staff members of EDC emphasised that identifying overall project activities and align them with time and budget should be the root foundation of ensuring better project performance. Moreover, the findings showed that most of the respondents agreed that cost efficiency, quality of a completed project and completing a project on time are the main indicators of a project performance indicated by 78.8%, 68.4% and 65.2% respectively. Based on the interpretation of collected and analyzed data during this study which aimed to assess the contribution of project planning practices and project performance. The study concluded effective scope planning, cost planning and risk significantly contribute to the performance of project in Rwanda whereby scope planning has 0.696, cost planning has 0.749 and risk planning has 0.845 with project performance. The study recommended similar organizations to EDC to adopt the habit of cost, scope and risk planning in their planning practices as a way of securing project performance; for effective and efficiency use of resources, during cost planning, organizations are advised to outsource experienced personnel in budgeting and finance; lastly there is always a need to set a clear and realistic project scope during project planning which is the basis for setting clear project indicators, outputs and outcomes. Keywords: Project Planning, Project scope planning, Project risk planning, Performance

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Section: Stratford Peer Reviewed Journals and Book Publishing Journal...mentioning

confidence: 99%

Project Planning Practices and Performance in Rwanda: A Case of Umurimo Kuri Bose Project in Rwamagana District

Abanyagasani,

Gitahi

2023

JEPM

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“…When proper risk management practices are not used, large financial deficits in a project, which can be up to 85% of the total cost of a project, can sometimes occur (Senesi et al, 2015). Furthermore, Cakmak and Tezel (2019) found that most studies have concentrated on the identification of risk, risk assessment, and risk analysis while neglecting other crucial processes like risk control, risk monitoring, and risk response. The absence of research concentrating on these three crucial processes highlights a gap in the literature concerning how these processes can boost the delivery of successful projects.…”

Section: Rationale For the Studymentioning

confidence: 99%

The utilization of project risk monitoring and control practices and their relationship with project success in construction projects

Obondi¹

2022

10.5267/j.jpm

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Risk monitoring and control is often poorly implemented in construction projects because of a failure to monitor and manage identified risks. Construction companies experience significant losses due to project managers' lack of project risk monitoring and control in construction projects. Most studies have concentrated on risk identification, risk assessment, and risk analysis processes while neglecting crucial risk management processes of risk control, risk monitoring, and risk response. The lack of research on these three crucial processes highlights a gap in the literature concerning how these processes can increase the delivery of successful projects. The purpose of this study was to examine whether the utilization of project risk monitoring and control practices was related to project success in construction projects in the United States. An electronic survey instrument was used to collect data from a sample of 50 construction project managers in the Dallas-Fort Worth area in the state of Texas, in the United States. Spearman rho correlation analysis was used to examine the relationship between project risk monitoring and control practices and project success. The results of this study indicated that all project risk monitoring and control practices, including risk reassessment, risk audits, contingency reserves analysis, and risk status meetings, were significantly and positively related to project success in construction projects. One of the recommendations presented in this study was that future research should conduct the same study in developing countries to see if the study’s findings remain the same and generalizable. The study concluded that construction organizations should regularly consider the importance and usage of project risk monitoring and control practices and apply them to improve the success rate of a project.

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“…In short, a conventional risk management procedure involves risk identification, risk evaluation/analysis, risk mitigation or response and risk monitoring and control (Cakmak and Tezel, 2019).…”

Section: Risk Management In Construction Projectsmentioning

confidence: 99%

Investigating social risks of construction projects in historic tourism sites in urban districts of developing countries: social network analysis approach

Jokar

Shojaei²,

Askarifar³

et al. 2022

IJCHM

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Purpose Social risk management has recently come to the fore as a significant feature of project management. This prominence is particularly evident in urban construction projects that take place in cultural heritage and tourism historic sites. Accordingly, this study aims to adopt social network analysis (SNA) to investigate social risks in construction projects occurring in urban districts rife with historically and culturally significant tourism sites. Design/methodology/approach The present study analyzed a real case study in Iran as an emergent economy and a developing country. Primarily, the study reviewed previous literature on social risks and relevant stakeholders. Next, the judgments of experts through the content validity ratio analysis confirmed 12 social risks and 9 key stakeholders. Finally, SNA is used to determine the relations between the social risks and stakeholders as well as the significance of each risk. Findings The investigation demonstrated that the most important social risks in the construction projects of the case study are “Psychological disorders”, “Environmental pollution” and “Cultural conflicts”. Practical implications The findings could help policymakers, urban planners and project managers in developing countries with a rich cultural heritage to reduce social risks and improve the efficiency of their projects. Originality/value To the best of the authors’ knowledge, the present study is one of the first instances to investigate construction projects implemented in densely populated urban areas hosting cultural heritage and historic tourism sites.

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A Guide for Risk Management in Construction Projects: Present Knowledge and Future Directions

Cited by 6 publications

References 61 publications

Project Planning Practices and Performance in Rwanda: A Case of Umurimo Kuri Bose Project in Rwamagana District

Project Planning Practices and Performance in Rwanda: A Case of Umurimo Kuri Bose Project in Rwamagana District

The utilization of project risk monitoring and control practices and their relationship with project success in construction projects

Investigating social risks of construction projects in historic tourism sites in urban districts of developing countries: social network analysis approach

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