Bin Abd Karim, S B (2015) The development of an empirical-based framework for project risk management. PhD thesis, University of Manchester, UK.
Abstract
This research is conducted to formulate a framework for project risk management by evaluating the current understanding and practices. It examines the risk management processes provided by the various standards, frameworks and guidelines available globally. The research argues that the existence of varying risk management standards, frameworks and guidelines is not an assurance that organisations will adopt their principles and processes. Furthermore, these documents do not provide sufficient information concerning the understanding of the concept of risk and uncertainty and their management. To accomplish this goal, it became necessary for the research to reach an understanding about the concepts and fundamental issues of risk and uncertainty management. This research also sought to know how organisations in different industries manage risks and uncertainties for their projects. This research was confined to the study of the understanding and practices of PRM by established or influential organisations in aerospace and aviation, oil, gas and petrochemical, power, telecommunication as well as construction industries with matching criteria. Semi-structured interviews were conducted using an 'aide-memoire' with managers involved in the management of project risks to document the current practices of risk management. Thematic analyses were used to compress and summarise the large amount of data into internally consistent understandings of risk and uncertainty. Based on the results, the research proposes a structure that explains the current understanding of the concepts of risk and uncertainty as well as an outline process framework for conducting risk management for industry use. Practically, risk and uncertainty are found to be interrelated whereby and they happen as an outcome of each other's occurrence. The proposed framework consists of six major steps which incorporated the purposes and activities within, providing a better understanding of how risk can be managed. This research contributes theoretically, methodologically and practically to project risk management body of knowledge.
| Item Type: | Thesis (Doctoral) |
|---|---|
| Thesis advisor: | Winch, G and Lowe, D |
| Uncontrolled Keywords: | aerospace; communication; project risk management; risk management; standards; uncertainty; interview |
| Index terms: | risk management, uncertainty management, construction industry, aviation, project risk management, telecommunication, thematic analysis, documents, body of knowledge, manager, interview |
| Subjects: | methods and analysis, professional development, industry analysis, risk assessment, data collection methods, communication, financial risk, practitioner, knowledge management |
| Topics: | Engineering Principles, Risk Management, Cost Management, Information Management, Research Practice, Roles and Professions |
| Descriptive scope: | 5 PCTEA |
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