Allport, R J and Ward, S (2010) Operational risk: The focus for major infrastructure? Proceedings of Institution of Civil Engineers: Management, Procurement and Law, 163(3), pp. 121-127. ISSN 17514312
Abstract
This paper summarises findings from an Institution of Civil Engineers-funded scoping study into the importance of operational risk, the underlying risk drivers and the factors that influence its effective management. The core of the study comprised a programme of interviews undertaken in 2008 with experienced industry practitioners in four sectors: energy, transport (road and rail), material resources and waste management and water (supply and wastewater). This confirmed the central importance of operational risk, and identified issues affecting its more effective identification and management. An important conclusion is that existing practice needs to be improved substantially, by focusing on managing uncertainty (not just adverse events) with the objective of improving performance. This needs to encompass policy and business-as-usual operations and new-build project development. A wider role for civil engineers is desirable.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | infrastructure planning; management; risk & probability analysis |
| Index terms: | practitioner, programme, interview, civil engineer, project development, waste management, infrastructure planning, probability analysis |
| Subjects: | profession, data collection methods, waste management, statistical analysis, project controls, strategic project management, project delivery, practitioner |
| Topics: | Roles and Professions, Time Control, Sustainability, Research Practice, Project Management |
| Descriptive scope: | 4 PCEA |
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