The Identification of Risks and its Criticality in the Nigeria Construction I...Dr. Amarjeet Singh
Failure in project delivering can be attributed to many risk events in the Nigerian Construction Industry. This risk could be as a result of the dynamic, sensitivity, and complexity of the construction Industry towards its environment, socio-political, economic, technology, and cultural variables in Nigeria. Nevertheless, the low level of Risk Management in Nigeria construction Industry, and the little understanding and knowledge of the subject by Project Stakeholders prompt this study.
A quantitative method of research was carried out, and among the sixty (60) questionnaires administered to clients, consultants, and contractors in the Nigerian construction industry, thirty-one (31) valid responses were obtained. The questionnaires were designed on the twenty (20) types of risks that were identified by construction professionals which were categorized into five namely; Government and Politics; Finance and Economical; Management and Technology; social and Cultural; Natural and Environmental Risks. And, findings made revealed that economic and financial risks surpass all other types in the Nigeria Construction Industry.
Effect or Risk Management Methods on project performance in Rwandan Construct...Sibo Kanyambari Aimable
Risks are very common in construction sector. Risk is the Possibility of suffering loss and the impact on the involved parties. According to APM (2006), all projects are inherently risky because they are unique, constrained, complex, based on assumptions, and performed by people. As a result, project risk management methods must be built into the management of projects and should be used throughout the project lifecycle.
Many construction projects fail because organizations assume that all the projects would succeed and they therefore do not identify, analyze, and provide mitigation or contingencies for the risk elements involved in the project.
Society desires that all projects should be performing and has become less tolerant of failure (Edwards and Bowen, 2005). Pressure is exerted on project managers to minimize the chance of project failure. This increasing pressure for performance which suggests that it is prudent for anyone involved in a project to be concerned about the associated risks and how they can be effectively managed.
Traditionally, performance of a project is analyzed on the criteria of quality, budget and time of completion. Two more criteria to determine the performance of a project were added by Kerzner (2001). Firstly, the project would effectively and efficiently manage risks and, secondly, it should be accepted by the customer.
It is known that the cause of the projects failure can be directly related to the extent of risk management methods undertaken. Besides, the level of risk management methods undertaken during project lifecycle impacts directly on the performance or otherwise of the project. Furthermore, using risk management methods effectively to manage risk should be continuously undertaken throughout the project lifecycle to enhance project performance. Risk management methods are thus an important tool to cope with such substantial risks in projects performance.
The main objective of the enquiry work that underpins this research is to investigate the effect of risk management methods on project performance. In this paper, a case study of RSSB multi-storey already executed project is considered.
International Journal of Engineering Research and DevelopmentIJERD Editor
Electrical, Electronics and Computer Engineering,
Information Engineering and Technology,
Mechanical, Industrial and Manufacturing Engineering,
Automation and Mechatronics Engineering,
Material and Chemical Engineering,
Civil and Architecture Engineering,
Biotechnology and Bio Engineering,
Environmental Engineering,
Petroleum and Mining Engineering,
Marine and Agriculture engineering,
Aerospace Engineering.
Indian EPC companies really needs rise their bar in execution of EPC projects ,there is substantial risk involved in those projects, needs rise the bar in design , procurement ,safety and integrated project management to successful completion of the project.
In Indian scenario of infrastructure industry, there is a colossal vocation of peril analysis knacks and tools available for the management of affliction. In dogma, each peril analysis knack has its strengths and weaknesses. Knacks such as Probability Theory, Certainty Factors and Dempster-Shaffer theory of evidence are discussed with regard to their application to peril analysis in road projects. Suggestions on the most appropriate tools associated with the knacks are also presented. The mighty and emaciation of each knack are highlighted and discussed. This paper inferred the peril to be determined in project.
The Identification of Risks and its Criticality in the Nigeria Construction I...Dr. Amarjeet Singh
Failure in project delivering can be attributed to many risk events in the Nigerian Construction Industry. This risk could be as a result of the dynamic, sensitivity, and complexity of the construction Industry towards its environment, socio-political, economic, technology, and cultural variables in Nigeria. Nevertheless, the low level of Risk Management in Nigeria construction Industry, and the little understanding and knowledge of the subject by Project Stakeholders prompt this study.
A quantitative method of research was carried out, and among the sixty (60) questionnaires administered to clients, consultants, and contractors in the Nigerian construction industry, thirty-one (31) valid responses were obtained. The questionnaires were designed on the twenty (20) types of risks that were identified by construction professionals which were categorized into five namely; Government and Politics; Finance and Economical; Management and Technology; social and Cultural; Natural and Environmental Risks. And, findings made revealed that economic and financial risks surpass all other types in the Nigeria Construction Industry.
Effect or Risk Management Methods on project performance in Rwandan Construct...Sibo Kanyambari Aimable
Risks are very common in construction sector. Risk is the Possibility of suffering loss and the impact on the involved parties. According to APM (2006), all projects are inherently risky because they are unique, constrained, complex, based on assumptions, and performed by people. As a result, project risk management methods must be built into the management of projects and should be used throughout the project lifecycle.
Many construction projects fail because organizations assume that all the projects would succeed and they therefore do not identify, analyze, and provide mitigation or contingencies for the risk elements involved in the project.
Society desires that all projects should be performing and has become less tolerant of failure (Edwards and Bowen, 2005). Pressure is exerted on project managers to minimize the chance of project failure. This increasing pressure for performance which suggests that it is prudent for anyone involved in a project to be concerned about the associated risks and how they can be effectively managed.
Traditionally, performance of a project is analyzed on the criteria of quality, budget and time of completion. Two more criteria to determine the performance of a project were added by Kerzner (2001). Firstly, the project would effectively and efficiently manage risks and, secondly, it should be accepted by the customer.
It is known that the cause of the projects failure can be directly related to the extent of risk management methods undertaken. Besides, the level of risk management methods undertaken during project lifecycle impacts directly on the performance or otherwise of the project. Furthermore, using risk management methods effectively to manage risk should be continuously undertaken throughout the project lifecycle to enhance project performance. Risk management methods are thus an important tool to cope with such substantial risks in projects performance.
The main objective of the enquiry work that underpins this research is to investigate the effect of risk management methods on project performance. In this paper, a case study of RSSB multi-storey already executed project is considered.
International Journal of Engineering Research and DevelopmentIJERD Editor
Electrical, Electronics and Computer Engineering,
Information Engineering and Technology,
Mechanical, Industrial and Manufacturing Engineering,
Automation and Mechatronics Engineering,
Material and Chemical Engineering,
Civil and Architecture Engineering,
Biotechnology and Bio Engineering,
Environmental Engineering,
Petroleum and Mining Engineering,
Marine and Agriculture engineering,
Aerospace Engineering.
Indian EPC companies really needs rise their bar in execution of EPC projects ,there is substantial risk involved in those projects, needs rise the bar in design , procurement ,safety and integrated project management to successful completion of the project.
In Indian scenario of infrastructure industry, there is a colossal vocation of peril analysis knacks and tools available for the management of affliction. In dogma, each peril analysis knack has its strengths and weaknesses. Knacks such as Probability Theory, Certainty Factors and Dempster-Shaffer theory of evidence are discussed with regard to their application to peril analysis in road projects. Suggestions on the most appropriate tools associated with the knacks are also presented. The mighty and emaciation of each knack are highlighted and discussed. This paper inferred the peril to be determined in project.
EFFECTS OF RISK MANAGEMENT METHODS ON PROJECT PERFORMANCE IN RWANDAN CONSTRUC...Sibo Kanyambari Aimable
Risks are very common in construction sector. Risk is the Possibility of suffering loss and the impact on the involved parties. According to APM (2006), all projects are inherently risky because they are unique, constrained, complex, based on assumptions, and performed by people. As a result, project risk management methods must be built into the management of projects and should be used throughout the project lifecycle.
Many construction projects fail because organizations assume that all the projects would succeed and they therefore do not identify, analyze, and provide mitigation or contingencies for the risk elements involved in the project.
Society desires that all projects should be performing and has become less tolerant of failure (Edwards and Bowen, 2005). Pressure is exerted on project managers to minimize the chance of project failure. This increasing pressure for performance which suggests that it is prudent for anyone involved in a project to be concerned about the associated risks and how they can be effectively managed.
Traditionally, performance of a project is analyzed on the criteria of quality, budget and time of completion. Two more criteria to determine the performance of a project were added by Kerzner (2001). Firstly, the project would effectively and efficiently manage risks and, secondly, it should be accepted by the customer.
It is known that the cause of the projects failure can be directly related to the extent of risk management methods undertaken. Besides, the level of risk management methods undertaken during project lifecycle impacts directly on the performance or otherwise of the project. Furthermore, using risk management methods effectively to manage risk should be continuously undertaken throughout the project lifecycle to enhance project performance. Risk management methods are thus an important tool to cope with such substantial risks in projects performance.
The main objective of the enquiry work that underpins this research is to investigate the effect of risk management methods on project performance. In this paper, a case study of RSSB multi-storey already executed project is considered.
A Study on Risk Assessment in Construction ProjectsIJMER
Risks are very common in construction sector. Risk management includes identifying risks,
assessing risks either quantitatively or qualitatively, choosing the appropriate method for handling the
risks, and then monitoring and documenting risks. By identifying risks in an early stage of planning and
assessing their relative importance, project managers can identify methods used to reduce risks and
allocate the best people to mitigate them. Thus, this research focuses on risk identification, as opposed
to other processes of risk management. "Brain-storming sessions" is the most popular method used
frequently to identify the risks in projects as deduced from a questionnaire survey from participants in
large construction projects. Time and cost management need to be fully integrated with the
identification process. Time constraints and project managers with sufficient experience are critical
when identifying the level of risk for large and/or complex projects. The most considerable types of risk
in construction projects are financial risks, construction risks, and demand or product risks
RISK RESPONSE STRATEGIES AND PERFORMANCE OF PROJECTS IN KIRINYAGA .docxdaniely50
RISK RESPONSE STRATEGIES AND PERFORMANCE OF PROJECTS IN KIRINYAGA COUNTY, KENYA
JAMES KADEGHE WARUI
D53/OL/CTY/26217/15
A RESEARCH PROJECT SUBMITTED TO THE SCHOOL OF BUSINESS IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF DEGREE OF MASTER OF BUSINESS ADMINISTRATION (PROJECT MANAGEMENT) OF KENYATTA UNIVERSITY Comment by user: Proposal
MAY, 2019
DECLARATION
I declare that, this proposal is my own original work and has not been presented for award of any degree in any university. No part of this proposal should be reproduced without the authority of the author and/or Kenyatta University.
Signature Date .
James Kadeghe Warui,
D53/OL/CTY/26217/15.
This research proposal has been submitted for the course examination with my approval as the University supervisor.
Signature . Date.
Dr. Lucy Ngugi,
Department of Management Science,
Kenyatta University.
DEDICATION
This work is dedicated to my family for giving me a chance to pursue an education. I also wish to dedicate this proposal to my colleagues for the encouragement and support they gave me towards the completion of this work
ACKNOWLEDGEMENT
I am thankful to God for the good health and strength He installed upon me to pursue this project. I wish to most sincerely thank my entire family for their overwhelming support throughout this process, they have always been a source of inspiration from whom I get my strength. I also appreciate my friends and colleagues who shared this journey with me and encouraged me in this journey. Comment by user: Need to acknowledge supervisor
TABLE OF CONTENTS
DECLARATIONii
DEDICATIONiii
ACKNOWLEDGEMENTiv
LIST OF TABLESvii
LIST OF FIGURESviii
OPERATIONAL DEFINITION OF TERMSix
ABBREVIATIONS AND ACRONYMSx
ABSTRACTxi
CHAPTER ONE1 put chapter and its heading on same line
INTRODUCTION1
1.1Background of the Study1
1.1.1 Project Performance2
1.1.2 Risk Response Strategies3
1.1.3 Projects in Kirinyaga County5
1.2 Statement of the Problem5
1.3 Objectives of the Study6
1.3.1 General Objective of the Study6
1.3.1 Specific Objectives of the Study6
1.4 Research Questions7
1.5 Significance of the Study7
1.6 Scope of the Study8
1.7 Limitation of the Study8
1.8 Organization of the Study9
CHAPTER TWO10 put chapter and its heading on same line
LITERATURE REVIEW10
2.1 Introduction10
2.2 Theoretical Review10
2.2.1 Enterprise Risk Management Model10
2.2.2 Expectancy Theory11
2.2.3 Network Theory12
2.3 Empirical Literature Review12
2.3.1 Risk Avoidance and Project Performance13
2.3.2 Risk Acceptance and Project Performance14
2.3.3 Risk Monitoring and Project Performance15
2.3.4 Risk Mitigation and Project Performance16
2.3.5 Risk Transfer and Project Performance17
2.4 Summary of Literature Review and Research Gaps19
2.5 Conceptual Framework23
CHAPTER THREE24 put chapter and its heading on same line
RESEARCH METHODOLOGY24
3.1 Introduction24
3.2 Research Design24
3.3 Target Population24
3.4 Data Collection Instruments25
.
Risk analysis for project decision-making
Presented by Keith Gray
Monday 10th October 2016
APM North West branch and Risk SIG conference
Alderley Park, Macclesfield
RISK MANAGEMENT IN CONSTRUCTION PROJECTS AS PER INDIAN SCENARIOIAEME Publication
Construction industry is highly risk prone, with complex and dynamic project
environments creating an atmosphere of high uncertainty and risk. The industry is
vulnerable to various technical, sociopolitical and business risks. The track record
to cope with these risks has not been very good in construction industry. As a
result, the people working in the industry bear various failures, such as, failure of
abiding by quality and operational requirements, cost overruns and uncertain delays
in project completion. In light of this, it can be said that an effective systems of risk
assessment and management for construction industry remains a challenging task
for the industry practitioners. The aim of the this research is to identify and evaluate
current risks and uncertainties in the construction industry through extensive
literature survey and aims to make a basis for future studies for development of a
risk management framework to be adopted by prospective investors, developers and
contractors
Application Development Risk Assessment Model Based on Bayesian NetworkTELKOMNIKA JOURNAL
This paper describes a new risk assessment model for application development and its
implementation. The model is developed using a Bayesian network and Boehm’s software risk principles.
The Bayesian network is created after mapping top twenty risks in software projects with interrelationship
digraph of risk area category. The probability of risk on the network is analyzed and validated using both
numerical simulation and subjective probability from several experts in the field and a team of application
developers. After obtaining the Bayesian network model, risk exposure is calculated using Boehm's risk
principles. Finally, the implementation of the proposed model in a government institution is shown as a real
case illustration.
Episode 25 : Project Risk Management
Understand what risk is and the importance of good project risk management.
Discuss the elements involved in risk management planning and the contents of a risk management plan.
List common sources of risks in engineering and information technology projects.
Describe the risk identification process, tools, and techniques to help identify project risks, and the main output of risk identification, a risk register.
SAJJAD KHUDHUR ABBAS
Chemical Engineering , Al-Muthanna University, Iraq
Oil & Gas Safety and Health Professional – OSHACADEMY
Trainer of Trainers (TOT) - Canadian Center of Human
Development
Running Head CURRENT TECHNIQUES IMPLEMENTED IN CONSTRUCTION INDUS.docxhealdkathaleen
Running Head: CURRENT TECHNIQUES IMPLEMENTED IN CONSTRUCTION INDUSTRY TO ELIMINATE SECURITY RISKS 2
CURRENT TECHNIQUES IMPLEMENTED IN CONSTRUCTION INDUSTRY TO ELIMINATE SECURITY RISKS 2
Current Techniques Implemented in the Construction Industry to Eliminate Security Risks
Group 4
Balaram Chekuri
Laxmi Sravani Vallurpallis
Mohan Kadali
Shivasai Pabba
Vaagdevi Jali
University of the Cumberlands
ITS835-41 Enterprise Risk Management
Residency Assignment Research Paper
Professor Dr. James C. Hyatt
10/20/2019
Statement of the Problem and it is Setting
Risk management has been one of the breakthroughs for the modern world, and at the same one of the intellectual achievements is the identification, transformation, or risk and going from a world that described risk as fate to a world that looks at risk as an area of study. Risk management is the utilization of risk analysis to come up with management strategies used to reduce risk. Whereby generally in project management there are the two techniques categories qualitative; that involves impact and probability assessment, expected value calculations and influence diagrams and quantitative; that typically focuses on the overall risk which is managed more with numerical approach, and has techniques such as decision trees, Monte Carlo analysis and sensitivity analysis (McNeil et al. 2015). In various fields, there is enormous risk faced, and at the same time, there is a corresponding quantitative technique that can be used to address the risk. The focus is on the quantitative risk management techniques; they are based on scientific, mathematical and statistical background, that promise to give thorough and detailed management and quantification of risk that is imperative for designing the response (Teixeira et al. 2015).
This paper, based on the construction industry, provides an overview of the analytic overview of different quantitative risk analysis techniques. There is a focus on building on the existing quantitative techniques that are best for the construction industry around the world when it comes to utilizing relevant techniques after a qualitative risk analysis. In addition to this, there is looking further into the techniques and their details.
Guiding Questions
· Does Your Risk Management Process Address Root Cause of Failure?
· Are there gaps in this field?
· What Does Your Business Performance Tell You About Risk?
· What Do Controls Tell You About Your Risks?
· The main focus is looking at the practitioners and researchers looking: at the reason why they should simplify the existing techniques?
· Which, at the same looks at the research gaps in this field and propose areas of further research for project risk management in construction, which will improve the existing techniques.
Assumptions
Project Risk manage ...
Evaluation of Risk Factors Affecting Cost Performance of Construction Project...IJCMESJOURNAL
Effective management of risk is critical to the success of any construction project. The importance of risk management has grown as projects have become more complex. Contractors have traditionally used financial mark-ups to cover the risk associated with construction projects, but as competition increases and the margins become tighter, they can no longer rely on this strategy and must improve their ability to manage risk. This study has carried out an empirical evaluation of the effect of risk factors on cost performance of projects at delivery. The study is based on the analysis of primary data derived from bills of quantities for the construction/erection of hospital projects by the Ministry of Works and Housing, Jalingo in Taraba State. The obtained data was analyzed using linear regression, t-statistics, F-statistics, line and scatter graphs. The study identified the following risk variables as having significant impact on cost performance: project size, project location, project complexity, level of variations, prime cost sums and provisional sums, estimator bias, market conditions, level of competition, fraudulent practices, construction techniques, economic and political factors, construction accidents, health and safety factors. The study concludes that these factors have to be comprehensively assessed in the light of the individual projects. It recommends among others, the need for a departure from the use of traditional approach of percentage risk adjustment factor to a more comprehensive risk management system.
The length of the implementation period in the construction of projects may lead to a change in
circumstances which expose them to many risks because of the length of the implementation period and multiple
stages, beginning with the start-up phase and even phase of the project, and this leads to increased circumstances of
uncertainty and increasing the probability of the occurrence of risks, and this is reflected negatively on the
construction contracting and construction economy.In this research questionnaire was developed to identify the
risks encountered in construction. Projects have been distributed to some local and foreign construction companies
in Libya, having been identified the risks that may face the projects. Through questionnaires and interviews with
engineers and project managers of companies, and making risk analysis qualitatively, there was a need to prepare a
checklist of the risks facing projects in Libya, and know the benefit of the contractor and the owner based on the
results. This paper examines the most important risks faced by construction projects in Libya, which is difficult and
how they are able to implement these projects and housing companies, the research explains a formulated model to
evaluate companies before being contracted to know the financial and technical capabilities.
P
A
P
E
R
S
72 September 2009 ■ Project Management Journal ■ DOI: 10.1002/pmj
INTRODUCTION ■
A
ccording to the United Kingdom’s Royal Academy of Engineering, bil-
lions of pounds are wasted every year on new information technology
(IT) systems. Troubled public-sector IT projects such as the National
Health Service (NHS) National Programme for IT, the Child Support
Agency systems, and HM Revenue and Customs’ Tax Credits IT system have
attracted considerable negative press. They have overrun, cost millions of
pounds more than was budgeted, and, in some cases, have been cancelled
before their costs spiral even further out of control. Terms such as “nightmare”
and “disaster” tend to be attached to such projects. IT projects (the provision
of a service to implement systems and solutions, including a variety of hard-
ware and software products; (Howard, 2001) seem to be more problematic
than other types of projects, with a particularly high rate of failure (McGrew &
Bilotta, 2000; The Standish Group International, 2007; Whittaker, 1999).
Despite well-established best practice project management processes, project
managers appear to be ineffective in the light of such failure.
Organizations such as the Project Management Institute (PMI) and the
United Kingdom’s Association for Project Management (APM) promote best-
practice project management standards. As part of these standards, project risk
management is defined as the systematic process of identifying, analyzing, and
responding to risks. Risk is any project-related event, or managerial behavior,
that is not definitely known in advance but has the potential of adverse conse-
quences on a project objective (PMI, 2004). Project risk management claims to
enable project managers to effectively manage risk and minimize the adverse
influence of risk on the project outcome. However, we have found that IT proj-
ect managers often do not apply a process to manage risks. The reasons for this
vary. Nevertheless, the evidence behind this phenomenon is very scarce, often
descriptive, and inchoate. The purpose of this study was to investigate whether
best practice standards are applied, and if they are not, what reasons led the IT
project manager to decide not to actively approach and manage project risks.
The results show that IT project managers primarily face the problem of
cost justification. Facing costs and time constraints and the uncertainty of
the success of project risk management, they often decided not to actively
manage risks. However, with the benefit of hindsight, we see that such a
decision often turns out to be fatal. Not surprisingly, in projects where proj-
ect risk management is not used, a greater degree of risks materialize than in
those projects where the IT project manager does actively manage risks.
Project Risk Management
Risks may potentially endanger the ability of the project manager to meet
the predefined project objectives, such as scope, time, and cost; tasks may
The .
Immunizing Image Classifiers Against Localized Adversary Attacksgerogepatton
This paper addresses the vulnerability of deep learning models, particularly convolutional neural networks
(CNN)s, to adversarial attacks and presents a proactive training technique designed to counter them. We
introduce a novel volumization algorithm, which transforms 2D images into 3D volumetric representations.
When combined with 3D convolution and deep curriculum learning optimization (CLO), itsignificantly improves
the immunity of models against localized universal attacks by up to 40%. We evaluate our proposed approach
using contemporary CNN architectures and the modified Canadian Institute for Advanced Research (CIFAR-10
and CIFAR-100) and ImageNet Large Scale Visual Recognition Challenge (ILSVRC12) datasets, showcasing
accuracy improvements over previous techniques. The results indicate that the combination of the volumetric
input and curriculum learning holds significant promise for mitigating adversarial attacks without necessitating
adversary training.
EFFECTS OF RISK MANAGEMENT METHODS ON PROJECT PERFORMANCE IN RWANDAN CONSTRUC...Sibo Kanyambari Aimable
Risks are very common in construction sector. Risk is the Possibility of suffering loss and the impact on the involved parties. According to APM (2006), all projects are inherently risky because they are unique, constrained, complex, based on assumptions, and performed by people. As a result, project risk management methods must be built into the management of projects and should be used throughout the project lifecycle.
Many construction projects fail because organizations assume that all the projects would succeed and they therefore do not identify, analyze, and provide mitigation or contingencies for the risk elements involved in the project.
Society desires that all projects should be performing and has become less tolerant of failure (Edwards and Bowen, 2005). Pressure is exerted on project managers to minimize the chance of project failure. This increasing pressure for performance which suggests that it is prudent for anyone involved in a project to be concerned about the associated risks and how they can be effectively managed.
Traditionally, performance of a project is analyzed on the criteria of quality, budget and time of completion. Two more criteria to determine the performance of a project were added by Kerzner (2001). Firstly, the project would effectively and efficiently manage risks and, secondly, it should be accepted by the customer.
It is known that the cause of the projects failure can be directly related to the extent of risk management methods undertaken. Besides, the level of risk management methods undertaken during project lifecycle impacts directly on the performance or otherwise of the project. Furthermore, using risk management methods effectively to manage risk should be continuously undertaken throughout the project lifecycle to enhance project performance. Risk management methods are thus an important tool to cope with such substantial risks in projects performance.
The main objective of the enquiry work that underpins this research is to investigate the effect of risk management methods on project performance. In this paper, a case study of RSSB multi-storey already executed project is considered.
A Study on Risk Assessment in Construction ProjectsIJMER
Risks are very common in construction sector. Risk management includes identifying risks,
assessing risks either quantitatively or qualitatively, choosing the appropriate method for handling the
risks, and then monitoring and documenting risks. By identifying risks in an early stage of planning and
assessing their relative importance, project managers can identify methods used to reduce risks and
allocate the best people to mitigate them. Thus, this research focuses on risk identification, as opposed
to other processes of risk management. "Brain-storming sessions" is the most popular method used
frequently to identify the risks in projects as deduced from a questionnaire survey from participants in
large construction projects. Time and cost management need to be fully integrated with the
identification process. Time constraints and project managers with sufficient experience are critical
when identifying the level of risk for large and/or complex projects. The most considerable types of risk
in construction projects are financial risks, construction risks, and demand or product risks
RISK RESPONSE STRATEGIES AND PERFORMANCE OF PROJECTS IN KIRINYAGA .docxdaniely50
RISK RESPONSE STRATEGIES AND PERFORMANCE OF PROJECTS IN KIRINYAGA COUNTY, KENYA
JAMES KADEGHE WARUI
D53/OL/CTY/26217/15
A RESEARCH PROJECT SUBMITTED TO THE SCHOOL OF BUSINESS IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF DEGREE OF MASTER OF BUSINESS ADMINISTRATION (PROJECT MANAGEMENT) OF KENYATTA UNIVERSITY Comment by user: Proposal
MAY, 2019
DECLARATION
I declare that, this proposal is my own original work and has not been presented for award of any degree in any university. No part of this proposal should be reproduced without the authority of the author and/or Kenyatta University.
Signature Date .
James Kadeghe Warui,
D53/OL/CTY/26217/15.
This research proposal has been submitted for the course examination with my approval as the University supervisor.
Signature . Date.
Dr. Lucy Ngugi,
Department of Management Science,
Kenyatta University.
DEDICATION
This work is dedicated to my family for giving me a chance to pursue an education. I also wish to dedicate this proposal to my colleagues for the encouragement and support they gave me towards the completion of this work
ACKNOWLEDGEMENT
I am thankful to God for the good health and strength He installed upon me to pursue this project. I wish to most sincerely thank my entire family for their overwhelming support throughout this process, they have always been a source of inspiration from whom I get my strength. I also appreciate my friends and colleagues who shared this journey with me and encouraged me in this journey. Comment by user: Need to acknowledge supervisor
TABLE OF CONTENTS
DECLARATIONii
DEDICATIONiii
ACKNOWLEDGEMENTiv
LIST OF TABLESvii
LIST OF FIGURESviii
OPERATIONAL DEFINITION OF TERMSix
ABBREVIATIONS AND ACRONYMSx
ABSTRACTxi
CHAPTER ONE1 put chapter and its heading on same line
INTRODUCTION1
1.1Background of the Study1
1.1.1 Project Performance2
1.1.2 Risk Response Strategies3
1.1.3 Projects in Kirinyaga County5
1.2 Statement of the Problem5
1.3 Objectives of the Study6
1.3.1 General Objective of the Study6
1.3.1 Specific Objectives of the Study6
1.4 Research Questions7
1.5 Significance of the Study7
1.6 Scope of the Study8
1.7 Limitation of the Study8
1.8 Organization of the Study9
CHAPTER TWO10 put chapter and its heading on same line
LITERATURE REVIEW10
2.1 Introduction10
2.2 Theoretical Review10
2.2.1 Enterprise Risk Management Model10
2.2.2 Expectancy Theory11
2.2.3 Network Theory12
2.3 Empirical Literature Review12
2.3.1 Risk Avoidance and Project Performance13
2.3.2 Risk Acceptance and Project Performance14
2.3.3 Risk Monitoring and Project Performance15
2.3.4 Risk Mitigation and Project Performance16
2.3.5 Risk Transfer and Project Performance17
2.4 Summary of Literature Review and Research Gaps19
2.5 Conceptual Framework23
CHAPTER THREE24 put chapter and its heading on same line
RESEARCH METHODOLOGY24
3.1 Introduction24
3.2 Research Design24
3.3 Target Population24
3.4 Data Collection Instruments25
.
Risk analysis for project decision-making
Presented by Keith Gray
Monday 10th October 2016
APM North West branch and Risk SIG conference
Alderley Park, Macclesfield
RISK MANAGEMENT IN CONSTRUCTION PROJECTS AS PER INDIAN SCENARIOIAEME Publication
Construction industry is highly risk prone, with complex and dynamic project
environments creating an atmosphere of high uncertainty and risk. The industry is
vulnerable to various technical, sociopolitical and business risks. The track record
to cope with these risks has not been very good in construction industry. As a
result, the people working in the industry bear various failures, such as, failure of
abiding by quality and operational requirements, cost overruns and uncertain delays
in project completion. In light of this, it can be said that an effective systems of risk
assessment and management for construction industry remains a challenging task
for the industry practitioners. The aim of the this research is to identify and evaluate
current risks and uncertainties in the construction industry through extensive
literature survey and aims to make a basis for future studies for development of a
risk management framework to be adopted by prospective investors, developers and
contractors
Application Development Risk Assessment Model Based on Bayesian NetworkTELKOMNIKA JOURNAL
This paper describes a new risk assessment model for application development and its
implementation. The model is developed using a Bayesian network and Boehm’s software risk principles.
The Bayesian network is created after mapping top twenty risks in software projects with interrelationship
digraph of risk area category. The probability of risk on the network is analyzed and validated using both
numerical simulation and subjective probability from several experts in the field and a team of application
developers. After obtaining the Bayesian network model, risk exposure is calculated using Boehm's risk
principles. Finally, the implementation of the proposed model in a government institution is shown as a real
case illustration.
Episode 25 : Project Risk Management
Understand what risk is and the importance of good project risk management.
Discuss the elements involved in risk management planning and the contents of a risk management plan.
List common sources of risks in engineering and information technology projects.
Describe the risk identification process, tools, and techniques to help identify project risks, and the main output of risk identification, a risk register.
SAJJAD KHUDHUR ABBAS
Chemical Engineering , Al-Muthanna University, Iraq
Oil & Gas Safety and Health Professional – OSHACADEMY
Trainer of Trainers (TOT) - Canadian Center of Human
Development
Running Head CURRENT TECHNIQUES IMPLEMENTED IN CONSTRUCTION INDUS.docxhealdkathaleen
Running Head: CURRENT TECHNIQUES IMPLEMENTED IN CONSTRUCTION INDUSTRY TO ELIMINATE SECURITY RISKS 2
CURRENT TECHNIQUES IMPLEMENTED IN CONSTRUCTION INDUSTRY TO ELIMINATE SECURITY RISKS 2
Current Techniques Implemented in the Construction Industry to Eliminate Security Risks
Group 4
Balaram Chekuri
Laxmi Sravani Vallurpallis
Mohan Kadali
Shivasai Pabba
Vaagdevi Jali
University of the Cumberlands
ITS835-41 Enterprise Risk Management
Residency Assignment Research Paper
Professor Dr. James C. Hyatt
10/20/2019
Statement of the Problem and it is Setting
Risk management has been one of the breakthroughs for the modern world, and at the same one of the intellectual achievements is the identification, transformation, or risk and going from a world that described risk as fate to a world that looks at risk as an area of study. Risk management is the utilization of risk analysis to come up with management strategies used to reduce risk. Whereby generally in project management there are the two techniques categories qualitative; that involves impact and probability assessment, expected value calculations and influence diagrams and quantitative; that typically focuses on the overall risk which is managed more with numerical approach, and has techniques such as decision trees, Monte Carlo analysis and sensitivity analysis (McNeil et al. 2015). In various fields, there is enormous risk faced, and at the same time, there is a corresponding quantitative technique that can be used to address the risk. The focus is on the quantitative risk management techniques; they are based on scientific, mathematical and statistical background, that promise to give thorough and detailed management and quantification of risk that is imperative for designing the response (Teixeira et al. 2015).
This paper, based on the construction industry, provides an overview of the analytic overview of different quantitative risk analysis techniques. There is a focus on building on the existing quantitative techniques that are best for the construction industry around the world when it comes to utilizing relevant techniques after a qualitative risk analysis. In addition to this, there is looking further into the techniques and their details.
Guiding Questions
· Does Your Risk Management Process Address Root Cause of Failure?
· Are there gaps in this field?
· What Does Your Business Performance Tell You About Risk?
· What Do Controls Tell You About Your Risks?
· The main focus is looking at the practitioners and researchers looking: at the reason why they should simplify the existing techniques?
· Which, at the same looks at the research gaps in this field and propose areas of further research for project risk management in construction, which will improve the existing techniques.
Assumptions
Project Risk manage ...
Evaluation of Risk Factors Affecting Cost Performance of Construction Project...IJCMESJOURNAL
Effective management of risk is critical to the success of any construction project. The importance of risk management has grown as projects have become more complex. Contractors have traditionally used financial mark-ups to cover the risk associated with construction projects, but as competition increases and the margins become tighter, they can no longer rely on this strategy and must improve their ability to manage risk. This study has carried out an empirical evaluation of the effect of risk factors on cost performance of projects at delivery. The study is based on the analysis of primary data derived from bills of quantities for the construction/erection of hospital projects by the Ministry of Works and Housing, Jalingo in Taraba State. The obtained data was analyzed using linear regression, t-statistics, F-statistics, line and scatter graphs. The study identified the following risk variables as having significant impact on cost performance: project size, project location, project complexity, level of variations, prime cost sums and provisional sums, estimator bias, market conditions, level of competition, fraudulent practices, construction techniques, economic and political factors, construction accidents, health and safety factors. The study concludes that these factors have to be comprehensively assessed in the light of the individual projects. It recommends among others, the need for a departure from the use of traditional approach of percentage risk adjustment factor to a more comprehensive risk management system.
The length of the implementation period in the construction of projects may lead to a change in
circumstances which expose them to many risks because of the length of the implementation period and multiple
stages, beginning with the start-up phase and even phase of the project, and this leads to increased circumstances of
uncertainty and increasing the probability of the occurrence of risks, and this is reflected negatively on the
construction contracting and construction economy.In this research questionnaire was developed to identify the
risks encountered in construction. Projects have been distributed to some local and foreign construction companies
in Libya, having been identified the risks that may face the projects. Through questionnaires and interviews with
engineers and project managers of companies, and making risk analysis qualitatively, there was a need to prepare a
checklist of the risks facing projects in Libya, and know the benefit of the contractor and the owner based on the
results. This paper examines the most important risks faced by construction projects in Libya, which is difficult and
how they are able to implement these projects and housing companies, the research explains a formulated model to
evaluate companies before being contracted to know the financial and technical capabilities.
P
A
P
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S
72 September 2009 ■ Project Management Journal ■ DOI: 10.1002/pmj
INTRODUCTION ■
A
ccording to the United Kingdom’s Royal Academy of Engineering, bil-
lions of pounds are wasted every year on new information technology
(IT) systems. Troubled public-sector IT projects such as the National
Health Service (NHS) National Programme for IT, the Child Support
Agency systems, and HM Revenue and Customs’ Tax Credits IT system have
attracted considerable negative press. They have overrun, cost millions of
pounds more than was budgeted, and, in some cases, have been cancelled
before their costs spiral even further out of control. Terms such as “nightmare”
and “disaster” tend to be attached to such projects. IT projects (the provision
of a service to implement systems and solutions, including a variety of hard-
ware and software products; (Howard, 2001) seem to be more problematic
than other types of projects, with a particularly high rate of failure (McGrew &
Bilotta, 2000; The Standish Group International, 2007; Whittaker, 1999).
Despite well-established best practice project management processes, project
managers appear to be ineffective in the light of such failure.
Organizations such as the Project Management Institute (PMI) and the
United Kingdom’s Association for Project Management (APM) promote best-
practice project management standards. As part of these standards, project risk
management is defined as the systematic process of identifying, analyzing, and
responding to risks. Risk is any project-related event, or managerial behavior,
that is not definitely known in advance but has the potential of adverse conse-
quences on a project objective (PMI, 2004). Project risk management claims to
enable project managers to effectively manage risk and minimize the adverse
influence of risk on the project outcome. However, we have found that IT proj-
ect managers often do not apply a process to manage risks. The reasons for this
vary. Nevertheless, the evidence behind this phenomenon is very scarce, often
descriptive, and inchoate. The purpose of this study was to investigate whether
best practice standards are applied, and if they are not, what reasons led the IT
project manager to decide not to actively approach and manage project risks.
The results show that IT project managers primarily face the problem of
cost justification. Facing costs and time constraints and the uncertainty of
the success of project risk management, they often decided not to actively
manage risks. However, with the benefit of hindsight, we see that such a
decision often turns out to be fatal. Not surprisingly, in projects where proj-
ect risk management is not used, a greater degree of risks materialize than in
those projects where the IT project manager does actively manage risks.
Project Risk Management
Risks may potentially endanger the ability of the project manager to meet
the predefined project objectives, such as scope, time, and cost; tasks may
The .
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THE IMPACT OF RISK IN ETHIOPIAN CONSTRUCTION PROJECT.pptx
1. THE IMPACT OF RISK IN ETHIOPIAN CONSTRUCTION PROJECT PERFORMANCE
CONSTRUCTION PROJECT MANAGEMENT ( COTM6011)
REVIEW ASSIGNMENT ON RESEARCH PROBLEM,
METHOD AND RESULTS
NAME: EDRIS ABDELLA
SUBMITTED TO: Dr MOHAMMADZEN HASAN (PhD)
DECEMBER 2021, DIRE DAWA, ETHIOPIA
2. RESEARCH PROBLEM
• Lack of risk management in Construction projects is
one of the major setbacks for construction projects
performance in Ethiopia. It includes identification,
assessment, monitoring, and sharing. As observation
and impacts of risk that show from literature show the
current status of risk identification, assessment,
monitoring and risk sharing in is not practiced and
modeled. But the future risk management practice
must be developed from the western risk management
practice. This is timely identification of risk,
assessments of risk, monitoring and controlling to
minimize the impact of risks. Even construction project
risk cannot be ignored, but it can be managed,
minimized, shared, transferred or accepted.
3. • The identification of their causes might lead to their reduction,
possible elimination and subsequent improvement in overall
project performance in civil work construction project.
• There is the gap between the existing situation and future state
planned in civil Work Construction Project, for that the cost and
time schedule for some projects was stated to show the significance
of the study.
• On average, there is about 15.33% cost increment beyond the
initially estimated cost and about 84% time overrun according to
Hauke, J. and Kossowski, T. (2011) if the risk factors have the delay
of project more than 1 quarter, the risk level is high and if it is more
a year and its impact is very high in terms of time and if it increases
from 10% - 20% cost, it is high in risk level.
• To put in a net shell, the study focuses on overall reduction of high
risk level in terms of time, cost and quality and practice the risk
management.
4.
5. 2. METHODOLOGY
• Twenty two (22) selected projects were sampled by
disproportionate stratified random sampling technique
from the twenty nine construction projects of that
were selected by more than 50% project performance
status criteria. The assumption behind sampling the
selected projects is project performance status. This
study utilized the two types of data sources for
investigating the impact of risk on the project
performances. These are questionnaire and Focus
Group Discussions (FGDs) as primary data sources and
literature review as secondary data sources.
Questionnaire survey and FGDs were used as data
collection tools for this study.
6. • To elaborate, questionnaire survey was carried out on the selected twenty
two (22) projects’ representatives from contractor and consultants. The
contents of the questionnaire survey on the project contractor and
consultant are identifying the availability of risk management practices
and impact of construction risk on the project performance in terms of
time, cost and quality. This thesis work attempts to assess the current risk
management practice and impact of risk in construction project to
improve the overall performance. Every attempt has been made to seek
information from relevant stakeholders, and to review different standard
literatures. The following frame work shows the way how the study
follows (Figure 1).
• The research utilizes the relative important index (RII) and percentage of
probability from the feeding data to identify the critical attributes among
all the risk factors affecting the project performance using SPSS software.
Then data is presents using bar charts and pie charts; tables are selected
for data presentation to show the probability of occurrence and its impact
of risk factors and the radar charts are selected to present the risk level.
9. 3. DISCUSSION
• In general the risks level is rating based on its impact on time, cost and
quality.
• As a combined of this consequence, the risk levels are ranked as very high,
high, moderate, low and very low.
• Based on this rank scale the following are grouped under very high risk
level.
• These are equipment/material failure is ranked first in the risk level, the
labour poor productivity ranked second and equipment and material
availability is third.
• The impact is the effect of the contingency. Potential event of loss
designating risk (R) is translated in mathematical terms as a result of the
product of the size of the impact I and likelihood of P ( Dumbravă, V. and
Iacob, V.-S). R = I × P (1)
• The risk factors indicated by the Radar graphs show the values of different
risks but the same probability of occurrence and it shows the rank of risk
level.
• Variable (Factors are the same order in above Table 1). The chart clearly
shows which risk factors have high impacts from the project objectives
(time, cost and time).
10. • From the radar graph (Figure 2), Labour dispute &
strike has an impact on more quality than others,
labour poor productivity has more impact on cost,
Labour culture, social & religious background on time,
Equipment/material failure on cost,
Equipment/material availability on time, transportation
facility on cost, Managerial inadequacy and supervisory
in efficiency has more effect on quality than time and
cost.
• A response by all Informants to a questionnaire that
inquires whether formal risk management system is in
place has revealed. To answer this research question,
the researcher have asked them to respond 1, if there
is risk management practice and 0, if no risk
management practices in construction project
11. • . “No formal risk management practice is in place
to manage risks that may occur in Ethiopian civil
work construction projects”. Besides, No formal
risk management plan for the projects from the
consultants. In the tool of Focused group
discussion, this research question has discussed
in the selected focused group from design and
construction section bureau.
• Two offices conclude that there is no risk
management practice or method in Ethiopian
construction project (Table 2).
12.
13.
14.
15. 4. CONCLUSIONS AND RECOMMENDATIONS
• The aim of the research is to enlighten the impact level of
risk on project objectives. By developing the construction
risk management practice, it enhances achievement of
project objectives, there by contributing to effective
implementation of the project performance. The main
objective of the research is to assess the impact of risk in
project time, cost and quality. From these identified risks
factors those have very high risk level on project costs are
equipment/material failure, labour poor productivity and
equipment scarcity. Lack of training, communication is high
risk level in project cost. The quality of the project affected
by labour poor productivity is very high. The others like
equipment/material failure, managerial inadequacy, and
lack of training, lack of communication and departures of
qualified staff are high risk level in term of quality
16. • . Generally very high risks are rating based on the analysis
in project performance are equipment/material failure, the
labour poor productivity and equipment and material non-
availability, their risk level was greater than 50%. The
second specific objective was to identify whether water
work construction project risks are managed with formal
Risk management system. The assessment revealed that
construction project has no routine practices employed to
manage risks. Although construction risk management
literature is very rich in conceptual frame works and
models to overcome formality of risk management efforts,
number of systems which fully support risk management
process is very low. The formal risk management processes
which involve risk management planning, identifications,
assessment, response planning, and monitoring have no
model in Ethiopian construction project.