Perspectives on Risk, Assessment and Management Paradigms 2019
DOI: 10.5772/intechopen.80804
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Process of Risk Management

Abstract: Cost saving and timely performance are of utmost importance to all stakeholders who are involved in a construction project that is owner, contractor, consultant and subcontractor. The prime causes of risks in construction projects involve delay and failure to complete the work at specified cost and within the agreed time frame. Unexpected delays in construction projects are caused by internal and external environments embedding several risk factors which may occur concurrently. The cost overrun and schedule ov… Show more

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Cited by 30 publications
(37 citation statements)
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“…Risk is a term used to described uncertain events which might affect the objective of a project either negatively or positively [1]. The definition of the term which itself may vary, it depends on the perspective of each individual [2].…”
Section: A Risk and Risk Managementmentioning
confidence: 99%
See 1 more Smart Citation
“…Risk is a term used to described uncertain events which might affect the objective of a project either negatively or positively [1]. The definition of the term which itself may vary, it depends on the perspective of each individual [2].…”
Section: A Risk and Risk Managementmentioning
confidence: 99%
“…If done effectively, risk management protects the organization assets, reduce loss, and manage cost-effectively based on the mission or objective of the organization [4]. Risk management is a process done continuously; however, to get the best results, it should be implemented at the earliest stage possible in any project [1]. Remember that the points of risk management have to be aligned with the organization goals and strategy [5].…”
Section: Fig 1 Risks Classification [1]mentioning
confidence: 99%
“…de investimentos e eficiência em operações nos cargos de liderança, ou seja, é destinada a ajudar a organização a tomar a decisão correta na altura certa para identificar, classificar, quantificar os riscos e depois geri-los e controlá-los (Srinivas, 2019). -Tratamento do Risco, esta etapa implica a escolha e a implementação de medidas para modificar os riscos.…”
Section: Processo De Gestão Do Riscounclassified
“…Risk management includes identifying and assessing risks of hazards, and prioritising them based on their nature, the probability of a related event occurring and its potential impact on what the system is supposed to protect. [1][2][3] A risk management system must minimise the probability of an identified risk leading to an incident, with the lowest possible level of uncertainty. If an incident nevertheless occurs, its impact needs to have been considered and evaluated so that a contingency plan can be implemented.…”
Section: Introductionmentioning
confidence: 99%