Del Caño, A and De La Cruz, M P (2002) Integrated methodology for project risk management. Journal of Construction Engineering and Management, 128(6), pp. 473-485. ISSN 0733-9364
Abstract
This article presents a generic project risk management process that has been particularized for construction projects from the point of view of the owner and the consultant who may be assisting the owner. The process could also be adapted to the needs of other project participants, and many points referred to in the article can be directly applied to them. Any project risk management process must be tailored to the particular circumstances of the project and of the organization undertaking it. First, the article explains a complete or generic project risk management process to be undertaken by organizations with the highest level of risk management maturity in the largest and most complex construction projects. After that, factors influencing possible simplifications of the generic process are identified, and simplifications are proposed for some cases. Then the application to a real project is summarized. As a final validation, a Delphi analysis has been developed to assess the project risk management methodology explained here, and the results are presented.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction; construction planning; methodology; project management; risk management |
| Index terms: | simplification, project management, construction planning, risk management, owner, project risk management, construction project, methodology, validation |
| Subjects: | research methods, management, project management theory and practice, financial risk, professional development, production management, sociology, risk assessment, construction planning |
| Topics: | Site Management, Project Management, Research Practice, Information Management, Cost Management, Business Strategy, Stakeholder Management, Risk Management |
| Descriptive scope: | 3 PCT |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here