Critical success factor analysis for effective risk management at the execution stage of a construction project

Shayan, Shadi; Kim, Ki Pyung; Tam, Vivian W.Y.

doi:10.1080/15623599.2019.1624678

Cited by 39 publications

(35 citation statements)

References 33 publications

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“…Enterprise risk management should have the characteristics of objectivity, proactivity, and adaptability. Moreover, risk management is carried out at both the planning and the execution stage to be effective (Shayan, et al, 2019). Lastly, effective ERM consists of aligning the risks management effort with the strategic goals of the organization.…”

Section: Risk Management In Islamic Contractual Laws Vs Modern Lawsmentioning

confidence: 99%

The Impact of Covid 19 on the Obligations of Contractors through the Commercial Contract in Saudi Arabia and the Islamic Law Perspective

Elfakharani¹

2022

Preprint

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With the growing COVID cases internationally, there is a need for a greater focus at both academic and government levels on the disease. The existing studies published in peer review journals are not sufficient in developing policies regarding counteracting the impacts on the contractors’ obligation as per the commercial contracts in Saudi Arabia. The exploratory study will look into the commercial contracts in detail to find out how the obligations of contractors are affected through legislative restrictions regarding COVID.

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Section: Risk Management In Islamic Contractual Laws Vs Modern Lawsmentioning

confidence: 99%

The Impact of Covid 19 on the Obligations of Contractors through the Commercial Contract in Saudi Arabia and the Islamic Law Perspective

Elfakharani¹

2022

Preprint

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“…Later, Rockart reintroduced the idea of a critical success factor based on Daniel's concept as a “mechanism for identifying the information needs of chief executive officers” (Rockart, 1979). Initially, the idea of critical success factors was presented to find information essentials of firm managers; currently, the concept has been used widely in all management fields (Shank et al , 1985; Kannan, 2018; Shayan et al , 2019). As per Wronka (2013) study, success factors can be used in businesses such as profit or non-profit, large-medium, small, etc.…”

Section: Theoretical Perspectivementioning

confidence: 99%

Multi-criteria decision-making toward supplier selection: exploration of PROMETHEE II method

Agrawal

2021

BIJ

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PurposeSupplier Selection (SS) is one of the vital decisions frequently executed by numerous industries. In recent times, the number of suppliers has increased enormously depending on a wide range of criteria. A selection of suppliers is a sensitive process that may impact various supply chain activities. The purpose of this research is to explore an underutilized technique called PROMETHEE II method for SS.Design/methodology/approachVarious tools and techniques are available under multi-criteria decision-making tools, which sometimes creates confusion in researchers' minds regarding reliability. PROMETHEE II was the most prominent method for ranking all available alternatives that ultimately avoid decision-making errors. To execute this equal and unequal weights approach has been used with three case studies.FindingsIn this research, three case studies have been used and soved with the help of the PROMETHEE II approach. The study also provides fundamental insights into the supplier's ranking on different criteria using sensitivity analysis. Further, criteria were divided as per benefits and non-beneficial to get a robust result. The pros and cons of PROMETHEE II approaches are also highlighted compared to other MCDM tools in this study.Originality/valueMost of the SS research uses either AHP or TOPSIS as per existing literature. There are very few attempts highlighted in the literature that use PROMETHEE II for the SS problem with sensitivity analysis. The proposed method is probable to motivate decision-makers to consider using a more sophisticated method like PROMETHEE II in supplier evaluation processes. This study opens a new direction for the ranking of suppliers in the field of the supply chain. The study also bears significant practical as well as managerial implications.

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“…According to Tavares et al (2019), project management is currently not only used for the management of complex strategic projects, but also for the improvement of individual business processes. According to several authors, Willumsen et al (2019), Shayan et al (2022), in the field of project management, there is a growing need for the effective management of schedules, human resources, costs, and risks. Authors such as Teller et al (2014), Hirsenberger et al (2019), and other experienced project managers argue that effectively applied project risk management can ensure a reduction in project costs, as well as a lower probability of project failure.…”

Section: Introductionmentioning

confidence: 99%

Global Survey of Current Barriers to Project Risk Management and Their Impact on Projects

Masár¹,

Hudáková

Melkovič³

et al. 2022

Journal of Business Economics and Management

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The main goal of this contribution is to assess and evaluate the degree to which project risk management is currently applied in companies at the global level based on empirical research. More specifically, it aims to assess the degree to which project risk management is applied during the initiation and planning phases of projects. In 2019, global empirical research was carried out in 31 countries in Europe, Africa, Australia, Asia, and America. In total, 1,143 project managers participated. The research was conducted on the basis of an online questionnaire survey. For the quantitative data analysis, mathematical and statistical data assessment tests were used to process the obtained data. Although the results reveal an increasing interest among top managers in the application of project risk management, they also show that project managers do not apply risk management to every project. The results of this contribution are applicable to managers and project managers in enterprises around the world, especially in European countries. Results highlighted the importance of project risk management and enhancing its application. In this way, managers can potentially reduce the time and financial losses that may affect the successful project realization.

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Critical success factor analysis for effective risk management at the execution stage of a construction project

Cited by 39 publications

References 33 publications

The Impact of Covid 19 on the Obligations of Contractors through the Commercial Contract in Saudi Arabia and the Islamic Law Perspective

The Impact of Covid 19 on the Obligations of Contractors through the Commercial Contract in Saudi Arabia and the Islamic Law Perspective

Multi-criteria decision-making toward supplier selection: exploration of PROMETHEE II method

Global Survey of Current Barriers to Project Risk Management and Their Impact on Projects

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