Perceptions of risk allocation methods and equitable risk distribution: a study of medium to large Southeast Queensland commercial construction projects

Pérez, David Alberto Machín; Gray, Jason; Skitmore, Martin

doi:10.1080/15623599.2016.1233087

Cited by 25 publications

(22 citation statements)

References 35 publications

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“…The issues around the creation of a risk planning approach not only affect contractors and consultants in developed countries but developing countries as well. For instance, a study by Pevez et al [47] undertaken in South East Queensland, Australia found that there is a lack of use of formal risk management methods. Consultants should have a risk log and know how to mitigate all the potential risks.…”

Section: Creation Of a Risk Planning Approachmentioning

confidence: 99%

Risk Handling Responsibilities in Tanzanian Project-Based Organisations

Sospeter

Chileshe

2021

Sustainability

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Risk handling is one of the elements and essential parts of risk management when properly incorporated into a project. However, there is inadequate knowledge amongst the contractual parties on risk handling responsibilities in road projects, particularly in Sub-Saharan African developing countries. This study is aimed at bridging that knowledge gap by investigating the perceptions of contractors and consultants on the risk handling responsibilities in road projects in Tanzania. The primary data were collected from 80 registered foreign and local civil contractors and engineering consultants based in Dar es Salaam. Descriptive statistics and inferential statistics were used for the data analysis. The results show that both contractors and consultants ranked safety project provision and ensuring quality provision in terms of construction as shared risk responsibilities among contractual parties. The findings further show that consultant-related risk responsibilities are: safety provision, the use of historical cost deviation, ensuring quality provision, and review of knowledge on budgeting. On the other hand, contractor-related risk responsibilities include: safety provision and ensuring quality provision. The findings of this study can be used by the practitioners and stakeholders as important lessons useful for controlling risks and making decisions when they intend to participate in such projects during the construction stage.

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Section: Creation Of a Risk Planning Approachmentioning

confidence: 99%

Risk Handling Responsibilities in Tanzanian Project-Based Organisations

Sospeter

Chileshe

2021

Sustainability

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“…Construction projects are extremely susceptible to risk due to higher spending, advanced interfaces, a range of stakeholders, integration of technologies, and materials, along with stringent timeframes. These problems are starting to be more and more complicated in the contemporary construction industry and related to other variables such as contractual, technical, and financial demands [6]. The construction is a risky industry, but plays a crucial part in turning the economic progress of developed and developing nations so management of risks in construction projects was recognized as an extremely crucial procedure to be able to accomplish the project goals in the terminology of the time, safety, quality, cost, and environmental sustainability.…”

Section: Risk Management In Construction Projectsmentioning

confidence: 99%

“…Therefore, improper understanding of the risks that can be incurred from specific clients can further encourage acute deviations from the already laid-out expenditure plans. Newly motivated interest in trending materials or labour from customers and clients causes higher pay rates which if not smartly overseen, can raise overall project costs wildly [6]. Poor risk management leads to overspending and thereby might cause the construction body to run into debt if not properly controlled.…”

Section: Overgrowth Of Project Costmentioning

confidence: 99%

A Theoretical Assessment of the Impacts of Poor Risk Management in the Construction Industry - A Case of Ethiopia

Yisakor¹,

Nokulunga²,

Didibhuku³

2020

Proceedings of the Creative Construction E-Conference 2020

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The study examines previous literature on the impacts of poor risk management in construction industry, with specific aim of identifying the causes of poor implementation of risk management in construction projects. This is because the concept of risk management has attracted much attention in recent years and that researchers and research bodies, be it corporate or government that try to formulate remedies to poor risk management should begin with an understanding of the causes and impact of poor risk management. The totality of risk management in construction industries include the identification, measurement and prevention of all likelihoods of negative outcomes. The study is conducted with reference to existing theoretical literature, published and unpublished research. The study is mainly a literature review/survey on the cause and effects of poor risk management. One of the primary findings emanating from the study reveals that empirical studies have identified several important factors which causes poor risk management; such as project delays, project failure, reputational damages, and loss of profit, material scarcity, and inadequate project accountability amongst others. The study explores the causes and effects of poor risk management in construction projects and presents a robust background on the theories of poor risk management. This study will enable contractors, stakeholders and construction risk managers to achieve better result and quality projects.

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“…2. Cost overrun: Controllable risks through accurate estimation, conflict resolution, reduce inclusion of disclaimer and price adjustment clauses in contracts (Perez et al, 2016).…”

Section: Risk Response and Allocation Strategiesmentioning

confidence: 99%

Risk Factors in Construction Projects during Unrest Period in Yemen

Alashwal¹,

Al-Sabahi²

2019

JCDC

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Construction projects are inherently exposed to various risk and uncertainties. Numerous studies have identified risk factors in construction projects in developed and developing countries. Yemen has witnessed revolutions and wars during the past six years, which affected the construction sector among other sectors. The purpose of this paper is to determine risk factors during the unrest period in Yemen. A list of 72 risk variables was developed based on the literature review followed by a questionnaire survey to determine relevant variables and factors. The results of this study explored new components of risk variables, namely environmental, resource-related, technical, conflict, design-related, profit-related, liquidity and revolution, and change. In addition, the results indicated critical risks affecting construction projects and main strategies to respond to them. The results of this paper provide an essential step for managing risks, so project managers and other professionals can ensure good project performance. However, further study is required to investigate the effectiveness of risk response strategies proposed in this paper.

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Perceptions of risk allocation methods and equitable risk distribution: a study of medium to large Southeast Queensland commercial construction projects

Cited by 25 publications

References 35 publications

Risk Handling Responsibilities in Tanzanian Project-Based Organisations

Risk Handling Responsibilities in Tanzanian Project-Based Organisations

A Theoretical Assessment of the Impacts of Poor Risk Management in the Construction Industry - A Case of Ethiopia

Risk Factors in Construction Projects during Unrest Period in Yemen

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