Hoseini, E; Bosch-Rekveldt, M and Hertogh, M (2018) Risk management maturity of construction projects in the Netherlands. In: Gorse, C and Neilson, C J (eds.) Proceedings of 34th Annual ARCOM Conference, 3-5 September 2018, Queen’s University, Belfast, UK.
Abstract
Projects are bounded with uncertainties and therefore the occurrence of risks, either positive (opportunity) or negative (threat), in projects is unavoidable. Many researchers and practitioners believe that risk management increases the possibility of project success. A Risk Maturity Model (RMM) is a tool which can help projects measuring the maturity of risk management and therefore plan for better performing risk management. Literature shows that there is a close link between risk management maturity and success of projects. This research implements a Generic Risk Maturity Model (GRMM), developed by the authors specifically for the construction industry, in one contractor and two public organizations in the Netherlands. The research question of this research is: <em>what are the risk management improvement areas of construction projects in the Netherlands?</em> . The purpose of this research is: <em>to help projects in the construction industry improving their risk management practices</em>. By means of individual and group interviews, 23 experts in 7 construction projects are asked to assess the risk management in their projects. The research identifies the areas of strengths and weaknesses in risk management in these organizations. The result shows that risk management is appropriately performed in the both contractor and the public organizations. Experts assess their organizations high in performing 'Risk Assessment'. In addition, the results shows that the experts in the public organizations evaluate 'Policy and Strategy' of risk management and 'Management Commitment' towards risk management low. The results also show that in the contractor organization more attention should be given to the 'Risk Treatment' and 'Monitor and Review' process'. Project managers can use the results of this research for planning and improving risk management, and to do cross project analysis for learning purposes.
| Item Type: | Conference Paper (Paper) |
|---|---|
| Uncontrolled Keywords: | evaluation of risk management; project risk management; risk maturity model; risk |
| Index terms: | risk assessment, construction project, practitioner, risk management, construction industry, interview, project success, project manager, contractor organization, maturity model, Netherlands, commitment, strategy, project risk management |
| Subjects: | organization, data collection methods, risk assessment, profession, practitioner, psychology, management, project management theory and practice, financial risk, evaluation, production management, Geography, industry analysis |
| Topics: | Organizational Design, Project Management, Geographical Context, Research Practice, Business Strategy, Cost Management, Roles and Professions, Risk Management |
| Descriptive scope: | 4 PCTE |
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