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11 – 20 of over 66000
Article
Publication date: 22 August 2008

N.N. Hlaing, D. Singh, R.L.K. Tiong and M. Ehrlich

Recent changes in corporate environment coupled with emerging challenges as a result of turbulent economy have exposed participants in the construction industry to more and more…

2922

Abstract

Purpose

Recent changes in corporate environment coupled with emerging challenges as a result of turbulent economy have exposed participants in the construction industry to more and more surprises in project management. As a result, the construction industry has witnessed significant changes particularly in procurement methods with clients allocating greater risks to contractors, making risk management a necessity, with organizations needing to look across the whole life of a project from inception to occupancy. To minimize or optimize all these risks, formulating an effective risk management system is a crucial challenge faced by any construction contractor. This paper aims to investigate contractors' perceptions of risk.

Design/methodology/approach

The perception of risks at estimating and tendering stage was investigated through a survey among construction contractors operating in the Singapore construction industry. The preferences of risk identification procedures and techniques are observed. Factors which are dominating constraints for the implementation of risk management elements are assessed. The process of risk identification from the standpoints of contractors and their preference of various risk response strategies to reduce the likelihood of occurrence of the identified risks and their impact were evaluated.

Findings

The findings from the study highlight that risk factors having great impact on the financial aspect of the project, namely lack of financial resources of the contractor, financial stability of the client and cost overruns due to delay are considered most important by contractors and that risk response methods are favored in the order of risk reduction, risk transfer, risk avoidance and risk retention.

Originality/value

The findings may help construction contractors in reviewing decision factors they consider when making bidding decision at estimating and tendering stage, and also be useful for improving their risk management plan in line with important risk factors considered by the construction industry.

Details

Journal of Financial Management of Property and Construction, vol. 13 no. 2
Type: Research Article
ISSN: 1366-4387

Keywords

Article
Publication date: 2 September 2014

W.M.P.U. Wijeratne, B.A.K.S. Perera and L. De Silva

The purpose of this paper is to identify the risks and methods for their assessment in the case of maintenance activities in Sri Lanka. The main objectives were to identify the…

2416

Abstract

Purpose

The purpose of this paper is to identify the risks and methods for their assessment in the case of maintenance activities in Sri Lanka. The main objectives were to identify the occupational risks in maintenance work and the risk assessment methods in place and their drawbacks in the Sri Lankan context.

Design/methodology/approach

The identification and assessment of risks were undertaken through a study of three fast-moving consumer products manufacturing organisations. The relevant data were collected through personal interviews and site visits.

Findings

Most typical risks associated with maintenance are cuts, slips and falls, with severe or fatal injuries as the result of negligence of SOP and failure to use the PPE. Checklists, brainstorming and decomposition techniques were identified as the preferred methods in maintenance for risk identification while a risk rating matrix is used for risk analysis. Lack of awareness and indifference towards risk assessment; make effective risk assessment very difficult. These drawbacks can be minimised by education, systematic training and enforcing rules, regulations and procedures for controlling risks.

Originality/value

Studies on maintenance worldwide have identified several maintenance-specific risks such as working at heights, the pressure of time, etc. However, there is a dearth of published research on risks and risk assessment methods in maintenance in Sri Lankan context. The findings highlighted the safety risks and risk assessment tools entailed in the maintenance operations of manufacturing organisations. The findings will be useful for those in maintenance operations in managing risks effectively through designing work environments that are risk-free.

Details

Built Environment Project and Asset Management, vol. 4 no. 4
Type: Research Article
ISSN: 2044-124X

Keywords

Article
Publication date: 16 November 2020

Jianrong Hou and Xiaofeng Zhao

The purpose of the paper is to develop a methodological framework for supply chain risk management using the hierarchical holographic modeling approach. It analyses supply chain…

Abstract

Purpose

The purpose of the paper is to develop a methodological framework for supply chain risk management using the hierarchical holographic modeling approach. It analyses supply chain risks in a systematic manner and develops a hierarchical methodology for identifying, prioritizing and managing the potential supply chain risks.

Design/methodology/approach

This research reviews supply chain risk management literature and develops a conceptual framework, which outlines general principles and guidelines for managing risks in a systematic manner. Through decomposition, the complexity of supply chain risk can be identified by analyzing smaller subsystems.

Findings

The paper provides a conceptual framework to identify supply chain risks from multiple overlapping perspectives. The structured filtering and ranking procedure enables decision-makers to focus on the most critical risks. The research shows that the supply chain risks associated with the sub-systems within the hierarchical structure contribute to and ultimately determine the risks of the overall supply chain system.

Research limitations/implications

The risks associated with each sub system within the hierarchical structure can contribute to and determine the risks of the overall supply chain system. Further applications in various companies and industry sectors would benefit supply chain managers on a case-by-case basis.

Practical implications

The hierarchical risk identification framework can serve as guidance for applications to specific supply chain systems and processes. The framework from a holistic overlapping perspective can efficiently and effectively help supply chain managers identify supply chain risks and facilitate the evaluation of the subsystem risks.

Originality/value

The paper applies system thinking in supply chain management and presents an efficient and practical framework for supply chain risk identification and evaluation.

Details

Asia Pacific Journal of Marketing and Logistics, vol. 33 no. 6
Type: Research Article
ISSN: 1355-5855

Keywords

Article
Publication date: 23 July 2020

Mojtaba Khosravi, Hadi Sarvari, Daniel W.M. Chan, Matteo Cristofaro and Zhen Chen

As construction of commercial and recreational complex building projects (CRCBPs) is one of the most important issues in many developing countries and requires a very high cost of…

Abstract

Purpose

As construction of commercial and recreational complex building projects (CRCBPs) is one of the most important issues in many developing countries and requires a very high cost of implementation, it is important to identify and prioritize the risks of such projects. Therefore, the purpose of this study is to identify and rank the risks of CRCBPs by studying the case of the “Hamedanian Memorial,” a CRCBP in Iran.

Design/methodology/approach

To pursue this aim, a descriptive-survey method was used. The statistical population of the study consists of 30 experienced experts (consultants, contractors and employers) of the “Hamedanian Memorial” project selected according to the Cochran formula and minimum population census. A questionnaire was used as the data collection tool, administered in all stages of risk identification and evaluation, and was devised by using library and field methods based on the literature and research background, as well as interviewing experts in the risk identification and evaluation stages. Kendall’s coefficient of agreement was used to validate the experts’ opinions in the risk identification stage. The ranking in qualitative evaluation was done based on the risk intensity and the cumulative risk index.

Findings

The results show that the risks are associated with exchange rate fluctuation, inflation fluctuation, access to skilled workers, contractors’ claims and foreign threats from international relations.

Originality/value

The results and findings of the present study can be of interest to the executives of large commercial, leisure, public and private projects in developing and developed countries; understanding risks can significantly improve the decision-making process of CRCBPs.

Details

Journal of Facilities Management , vol. 18 no. 3
Type: Research Article
ISSN: 1472-5967

Keywords

Article
Publication date: 21 August 2007

Hussein A. Hassan Al‐Tamimi and Faris Mohammed Al‐Mazrooei

The purpose of this research is to examine the degree to which the UAE banks use risk management practices and techniques in dealing with different types of risk. The secondary…

10922

Abstract

Purpose

The purpose of this research is to examine the degree to which the UAE banks use risk management practices and techniques in dealing with different types of risk. The secondary objective is to compare risk management practices between the two sets of banks.

Design/methodology/approach

The authors developed a modified questionnaire, divided into two parts. The first part covers six aspects: understanding risk and risk management; risk identification; risk assessment and analysis; risk monitoring; risk management practices; and credit risk analysis. This part includes 43 closed‐ended questions based on an interval scale. The second part consists of two closed‐ended questions based on an ordinal scale dealing with two topics: methods of risk identification, and risks facing the sample banks.

Findings

This study found that the three most important types of risk facing the UAE commercial banks are foreign exchange risk, followed by credit risk, then operating risk. It also found that the UAE banks are somewhat efficient in managing risk, and risk identification and risk assessment and analysis are the most influencing variables in risk management practices. Finally, the results indicate that there is a significant difference between the UAE national and foreign banks in the practice of risk assessment and analysis, and in risk monitoring and controlling.

Originality/value

The article will be of value to those interested in the banking industry.

Details

The Journal of Risk Finance, vol. 8 no. 4
Type: Research Article
ISSN: 1526-5943

Keywords

Article
Publication date: 4 September 2017

Mohammad Ravankhah, Michael Schmidt and Thomas Will

The purpose of this paper is to develop an integrated multi-risk identification procedure for World Cultural Heritage (WCH) sites exposed to seismic events, while considering…

Abstract

Purpose

The purpose of this paper is to develop an integrated multi-risk identification procedure for World Cultural Heritage (WCH) sites exposed to seismic events, while considering characteristics of disasters from earthquakes in a multi-hazard context on one side and particular aspects of WCH (e.g. outstanding universal values and associated condition of authenticity and integrity) on the other.

Design/methodology/approach

An interdisciplinary review of current relevant approaches, methods, and practices is conducted through the existing literature of disaster risk management, heritage conservation, and seismology. Furthermore, a document analysis of concrete cases affected by seismic events supports concepts and the procedure.

Findings

This paper results in a methodology of identifying multi-risk of disasters induced by earthquakes. A bow-tie analysis diagram in combination with a risk identification matrix is developed for illustrating a multiple emergency scenario in identifying possible impacts of earthquakes’ primary effects, secondary hazards, and human-threats on tangible and intangible attributes of cultural properties.

Practical implications

The research aims to provide specialists and practitioners from multiple sectors engaged in pre-disaster risk mitigation and preparedness plan for cultural heritage with a practical risk identification tool. The proposed method, in a multiple hazard context, intends to enhance risk assessment procedure for determining more appropriate risk reduction strategies in the decision-making process.

Originality/value

This paper, through emphasising “earthquake disaster risk” rather than “earthquake risk”, illuminates the significance of quake-followed secondary hazards, potential human-induced hazards and human errors in the risk identification process, due to the fact that while a disaster may begin with a quake, its full scope might be triggered by a combination of the mentioned potential threats.

Details

Journal of Cultural Heritage Management and Sustainable Development, vol. 7 no. 3
Type: Research Article
ISSN: 2044-1266

Keywords

Article
Publication date: 26 June 2018

Lulu Zhou, Yan Liu, Zhihong Chen and Shuming Zhao

The purpose of this paper is to explore how a perceived ethical climate influences employees’ intention to whistle-blow through internal organizational channels and incorporates…

1494

Abstract

Purpose

The purpose of this paper is to explore how a perceived ethical climate influences employees’ intention to whistle-blow through internal organizational channels and incorporates the mediating role of organizational identification and moral identity as well as the moderating role of individual risk aversion.

Design/methodology/approach

The five proposed hypotheses were tested using hierarchical regression analysis with two waves of data collected in 2016 from 667 employees in Chinese organizations.

Findings

The findings indicate that perceived ethical climate had a positive effect on employees’ internal whistle-blowing intention, which was mediated by organizational identification and moral identity. Furthermore, employees’ risk aversion weakened the effect of organizational identification, while the moderating role by moral identity on internal whistle-blowing intention was not validated.

Originality/value

This study explains the psychological mechanism of whistle-blowing intention from the perspective of social identity, which contributes to opening the “black box” of the transmitting processes from the perceived ethical climate to whistle-blowing intention. This study also extends the literature by defining a boundary condition of risk aversion that hinders organizational identification influence on employee whistle-blowing intention.

Details

Journal of Managerial Psychology, vol. 33 no. 2
Type: Research Article
ISSN: 0268-3946

Keywords

Article
Publication date: 25 April 2022

A. Deiva Ganesh and P. Kalpana

The global pandemic COVID-19 unveils transforming the supply chain (SC) to be more resilient against unprecedented events. Identifying and assessing these risk factors is the most…

1536

Abstract

Purpose

The global pandemic COVID-19 unveils transforming the supply chain (SC) to be more resilient against unprecedented events. Identifying and assessing these risk factors is the most significant phase in supply chain risk management (SCRM). The earlier risk quantification methods make timely decision-making more complex due to their inability to provide early warning. The paper aims to propose a model for analyzing the social media data to understand the potential SC risk factors in real-time.

Design/methodology/approach

In this paper, the potential of text-mining, one of the most popular Artificial Intelligence (AI)-based data analytics approaches for extracting information from social media is exploited. The model retrieves the information using Twitter streaming API from online SC forums.

Findings

The potential risk factors that disrupt SC performance are obtained from the recent data by text-mining analyses. The outcomes carry valuable insights about some contemporary SC issues due to the pandemic during the year 2021. The most frequent risk factors using rule mining techniques are also analyzed.

Originality/value

This study presents the significant role of Twitter in real-time risk identification from online SC platforms like “Supply Chain Dive”, “Supply Chain Brain” and “Supply Chain Digest”. The results indicate the significant role of data analytics in achieving accurate decision-making. Future research will extend to represent a digital twin for identifying potential risks through social media analytics, assessing risk propagation and obtaining mitigation strategies.

Details

Industrial Management & Data Systems, vol. 122 no. 5
Type: Research Article
ISSN: 0263-5577

Keywords

Article
Publication date: 16 February 2024

M.K.S. Al-Mhdawi, Alan O'connor, Abroon Qazi, Farzad Rahimian and Nicholas Dacre

This research aims to systematically review studies on significant risks for Critical Infrastructure Projects (CIPs) from selected top-tier academic journals from 2011 to 2023.

Abstract

Purpose

This research aims to systematically review studies on significant risks for Critical Infrastructure Projects (CIPs) from selected top-tier academic journals from 2011 to 2023.

Design/methodology/approach

In this research, a three-step systematic literature review methodology was employed to analyse 55 selected articles on Critical Infrastructure Risks (CIRs) from well-regarded and relevant academic journals published from 2011 to 2023.

Findings

The findings highlight a growing research focus on CIRs from 2011 to 2023. A total of 128 risks were identified and grouped into ten distinct categories: construction, cultural, environmental, financial, legal, management, market, political, safety and technical risks. In addition, literature reviews combined with questionnaire surveys were more frequently used to identify CIRs than any other method. Moreover, oil and gas projects were the subjects most often explored in the reviewed papers. Furthermore, it was observed that publications from Iran, the USA and China dominated CIRs research, making significant contributions, accounting for 49.65% of the analysed articles.

Research limitations/implications

This research specifically focuses on five types of CIPs (i.e. roadways, bridges, water supply systems, dams and oil and gas projects). Other CIPs like cyber-physical systems or electric power systems, were not considered in this research.

Practical implications

Governments and contracting firms can benefit from the findings of this study by understanding the significant risks associated with the execution of CIPs, irrespective of the nation, industry or type of project. The results of this investigation can offer construction professionals valuable insights to formulate and implement risk response plans in the early stages of a project.

Originality/value

As a novel literature review related to CIRs, it lays the groundwork for future research and deepens the understanding of the multi-faceted effects of these risks, as well as sets practical response strategies.

Details

Smart and Sustainable Built Environment, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2046-6099

Keywords

Article
Publication date: 8 March 2021

Raymond Obayi and Seyed Nasrollah Ebrahimi

In a departure from the efficiency theory assumptions implicit in most supply chain risk management (SCRM) literature, this study aims to explore the role that external…

Abstract

Purpose

In a departure from the efficiency theory assumptions implicit in most supply chain risk management (SCRM) literature, this study aims to explore the role that external neo-institutional pressures play in shaping the risk management strategies deployed to mitigate transaction cost risks in construction supply chains (CSC).

Design/methodology/approach

A theory-elaborating case study is used to investigate how regulatory, normative and mimetic neo-institutional pressures underpin SCRM strategies in state-led and private-led CSC in China.

Findings

The study finds that institutionalized Confucianist networks serve as proxies for regulatory accountability and thereby create a form of dysmorphia in the regulatory, normative and mimetic drivers of SCRM strategies in state-led and private-led CSC in China.

Originality/value

The findings reveal that relational costs such as bargaining, transfer and monitoring costs underpin SCRM in state-led CSC. Behavioral costs associated with search, screening and enforcement are the core drivers of SCRM in private-led CSC. These differences in transaction cost drivers of SCRM arise from the risk-buffering effect of personalized Guanxi networks, creating variants of institutional pressures on actors' risk analysis, identification and treatment strategies in China. Considering China's global hegemony in construction and related industries, this study provides valuable insights for practitioners and researchers on the need for a constrained efficiency view of SCRM in global CSC.

Details

Supply Chain Management: An International Journal, vol. 26 no. 5
Type: Research Article
ISSN: 1359-8546

Keywords

11 – 20 of over 66000