Project risk management in the Queensland engineering construction industry: a survey

Lyons, Terry; Skitmore, Martin

doi:10.1016/s0263-7863(03)00005-x

Cited by 249 publications

(144 citation statements)

References 10 publications

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“…The methods for managing risks have been widely discussed in the literature on projects (Jaafari, 2003;Kwak & Stoddard, 2004;Lyons & Skitmore, 2004;Kerzner, 2009;Zwikael & Ahn, 2011;PMI, 2013). Within this framework, Raz & Michael (2001) established a Ranking with the most contributory practices to the management, relating them to the processes of identification, assessment, response, monitoring, control, and background.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

“…The users understand the difficulty to show the benefits obtained with the use of risk management, lack of resources for the function, lack of experience with the techniques and time for application (Kwak & Stoddard, 2004;Lyons & Skitmore, 2004;Wallace et al, 2004), in addition to the low authority and lack of ability of the project managers as limiting factors to their management (Globerson & Zwikael, 2002). This statement lead to the following proposition: Most problems in projects is managerial and not technical (Shenhar & Dvir, 2007).…”

Section: Theoretical Frameworkmentioning

confidence: 99%

“…PRO-2 is based on the need of preparing managers for which decisions are reflected in a better performance of projects. The risk assessment process is one of the most applied by managers (Lyons & Skitmore, 2004), but the lack of ability for the execution of this task limits their efficiency (Globerson & Zwikael, 2002;Raz et al, 2002). Thus, it should be noted that the performance impact of the projects varies with the level of presence of risk factors (Datta & Mukherjee, 2001;Ng & Loosemore, 2007) and with the risk factor type involved in the project (Ghosh & Jintanapakanont, 2004;Thamhain, 2013).…”

Section: /43mentioning

confidence: 99%

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Caracterização da gestão de fatores de risco em projetos de infraestrutura

2017

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ISSN 0104-530X (Print) ISSN 1806-9649 (Online) Resumo: Este estudo tem por objetivo compreender como se caracteriza a gestão dos fatores de risco no desempenho de projetos de infraestrutura. Para tal, utilizou-se o referencial teórico associado tanto à literatura voltada para o gerenciamento de riscos quanto sobre complexidade e desempenho de projetos. A estratégia de pesquisa utilizada baseou-se no método de estudo de casos múltiplos, compreendendo a análise de cinco empreendimentos em dois segmentos econômicos distintos. As evidências empíricas sugerem que o impacto dos fatores de risco no desempenho dos projetos depende da intensidade da gestão dos riscos e das habilidades dos gerentes de risco, mas não varia com a complexidade dos projetos. O estudo também indica que a intensidade do desempenho nas dimensões analisadas varia de acordo com a influência dos fatores considerados. Palavras-chave: Projeto de infraestrutura; Desempenho; Gerenciamento de risco; Fator de risco; Complexidade.Abstract: This study aims to understand how risk factor management is characterized in the performance of infrastructure projects. The multiple-case study methodology was used, including the analysis of five projects in two different economic sectors. Empirical evidence suggests that the impact of risk factors in the performance of projects depends on risk management intensity and on the skills of risk managers, but it does not vary with project complexity. Furthermore, the intensity of the analyzed performance dimensions may vary according to the influence of the factors considered.

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Section: Theoretical Frameworkmentioning

confidence: 99%

Section: Theoretical Frameworkmentioning

confidence: 99%

Section: /43mentioning

confidence: 99%

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Caracterização da gestão de fatores de risco em projetos de infraestrutura

2017

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“…Likewise, Dikmen et al [14] explored that experience, and personal judgment are the two main tools in qualitative risk assessment process. Among the researchers mentioned above, Akintoye and MacLeod [6] in the UK, Shen [4] in China, Wood and Ellis [9] in the UK, Raz and Michael [7] in Israel, and Lyons and Skitmore [10] in the Queensland; they all found that complex tools were not being used extensively for the risk assessment process as most of the risk assessment tools were based on expert judgment, intuition, and experience of the practitioners that has a similarity with the Cox's [16] argument, which emphasizes on the importance of risk attitude and subjective judgment while rating risks during the risk assessment process. The P-I risk rating model is usually developed by decision-makers' subjective judgment where ratings are assigned to the probability of a risk event occurrence and its impact on the project objectives.…”

Section: IImentioning

confidence: 99%

Risk Attitude and Risk Controllability: Their Implications on the Subjective Quantification of Risk in International Construction Projects

Hayat¹

2017

IJAERS

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“…Over years, scholars have proposed a variety of risk management methodologies for real practise, yet most of them are similar in process, following a systematic three-step approach: identify, assess, and mitigate construction risks (Flanagan, Norman 1993;Berkeley et al 1991;Lyons, Skitmore 2004). Out of the three steps, risk assessment process is the most controversial issue (Baloi, Price 2003).…”

Section: Fuzzy Logic and Fst In Construction Risk Managementmentioning

confidence: 99%

Design and Pilot Run of Fuzzy Synthetic Model (Fsm) for Risk Evaluation in Civil Engineering

Abdul‐Rahman

Chen

Lee

2013

Journal of Civil Engineering and Management

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Abstract. Most of the current construction risk assessment tools deliver unsatisfactory results because the prerequisite for their effective applications rely on the availability of high quality data especially during the early stage of a project. Unfortunately, such data are limited, ambiguous or even not exist due to the great uncertainty inherent in construction projects. Based on Fuzzy Synthetic Analysis (FSA), a model development team was formed among construction engineers, IT professionals, and Mathematicians in developing a holistic risk assessment model to estimate the construction risks especially for the situations with incomplete data and vague environments. Through qualitative scales defined by triangular fuzzy numbers used in pairwise comparisons to capture the vagueness in the linguistic variables, a risk assessment model using Analytic Hierarchy Process (AHP) was developed. The Pilot Run revealed the developed Fuzzy Synthetic Model (FSM) could accelerate the decisionmaking process and provide optimal allocation of project resources to mitigate possible risks detrimental to the success of a project in terms of time, cost, and quality.

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Project risk management in the Queensland engineering construction industry: a survey

Cited by 249 publications

References 10 publications

Caracterização da gestão de fatores de risco em projetos de infraestrutura

Caracterização da gestão de fatores de risco em projetos de infraestrutura

Risk Attitude and Risk Controllability: Their Implications on the Subjective Quantification of Risk in International Construction Projects

Design and Pilot Run of Fuzzy Synthetic Model (Fsm) for Risk Evaluation in Civil Engineering

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