Liu, J Y; Zou, P X W and Gong, W (2013) Managing project risk at the enterprise level: Exploratory case studies in China. Journal of Construction Engineering and Management, 139(9), pp. 1268-1274. ISSN 0733-9364
Abstract
Risk management is a critical part of construction project management. Most previous studies on construction project risk management (PRM) have focused on the project level rather than the enterprise level. The objective of this study is to explore the role that enterprise-level risk management (ERM) plays in PRM. A case study approach was adopted in which two Chinese international construction firms with different risk management practices and performance were investigated. Data were collected from face-to-face interviews and archival documents. The results indicate that ERM can improve the ability and performance of PRM through controlling project risk at the enterprise level, which is based on four key components: risk management department, risk management procedure, external service, and corporate culture. Both senior management and academics will find the study useful because it improves the understanding of how ERM can influence PRM, with a view to stimulating further research.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | China; construction firms; enterprise risk management; project planning and design; project risk management |
| Index terms: | case study, international construction, construction project, corporate culture, China, construction project management, face, interview, risk management, project planning, documents, project risk management, enterprise risk management, construction firm |
| Subjects: | control systems, professional development, organization, risk assessment, financial risk, production management, Geography, strategic management, sociology, project management theory and practice, psychology, data collection methods |
| Topics: | Cost Management, Project Management, Research Practice, Organizational Design, Geographical Context, Risk Management, International Construction, Business Strategy, Information Management |
| Descriptive scope: | 3 PCE |
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