Conference Proceedings

Sixth International Conference on Advances in Civil, Structural and Mechanical Engineering - CSM 2018

A Conceptual Model of Risk Management for Predicting Success in Construction Projects



The recurrence of project failures in construction has tarnished the image of the construction industry globally. This development has been in part due to inefficient risk management which ineluctably leads to poor project performance. However, there is scarcity of investigative studies that consider factors predicting success in South Africa construction industry and in developing economies. The objective of the study is therefore to identify the variables of risk management that are predictors of project success. The work methodology included a literature search relating to risk management which enabled the identification of core variables relevant to the study using content analysis. The review spanned a decade and lustrum between January 2000 and December 2015 and was based on a combination keyword search in three databases namely;Science Direct, Taylor and Francis Online, and Emerald. Nine core variables were identified which are perceived to predict project success. These were: organizational environment, defining project objectives, resource requirements, risk measurement, risk identification, risk assessment, risk response, communication, and monitoring and review. Furthermore, a hypothesized conceptual model of risk management was proposed. The study is mainly a literature review, hence a limitation. Despite the limitation, the study recommends that the identified variables can be considered as core variables of risk management and ultimately predictors of project success in construction.

Conference Title : Sixth International Conference on Advances in Civil, Structural and Mechanical Engineering - CSM 2018
Conference Date(s) : 28-29 April, 2018
Place : Novotel Zurich City-West Address: Schiffbaustrasse 13, 8005 Zurich, Switzerland
No fo Author(s) : 3
DOI : 10.15224/978-1-63248-150-4-58
Page(s) : 104 - 110
Electronic ISBN : 978-1-63248-150-4
Views : 251   |   Download(s) : 122