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Risk assessment and management in construction projects full thesis.htm

Starting from an interest in identifying and analyzing valuation models and risk management applied to the construction industry and using the Knowledge Development Process-Constructivist ProKnow-Cthis research identified 12,032 articles in thirteen academic databases. In its subsequent steps, the ProKnow-C allowed, in a process of continuous selection, the choice of the 23 articles that presented quantitative or qualitative risk management models developed for the construction industry.

The relevance of this set of papers was demonstrated by bibliometric analysis. The content of the articles was systematically analyzed from ten research lenses based on the concepts of risk, risk management, and performance measurement adopted by the researchers, representing their research vision.

Risk assessment and management in construction projects full thesis htm

The analysis revealed the unique character of risk perception, indicating that models developed in one context are suitable only for that context. Thus, the use of ProKnow-C facilitated the acquisition of knowledge and enabled the researcher to identify numerous research opportunities, which, if included in the development of a new model, would allow this model to be used as an instrument that is legitimate and valid for the measurement, assessment, and management of risk, enabling the company to achieve competitive advantages in the market.

Introduction Risk management has become an increasingly challenging activity. This same study emphasizes the need for the function of risk to be more than simply compliance with a bureaucratic exercise [1].

Risk assessment and management in construction projects full thesis.htm

This situation is also apparent in the construction industry. The launch of a new project is considered a bet on a future often regarded as uncertain. The conception of a new venture project is considered the riskiest step because at this step, the ideal aspects of the project are defined, including its architectural and construction features, its target audience, and the marketing strategies used to reach this target audience.

At this step, all necessary planning for the proposed aims is carried out and achieved. The decisions made at this stage have a significant impact on the achievement of the project goals [2] - [6].

The other features of a construction project must also be considered, including: These various factors illustrate the actual and high degree of risk involved in the success of a project [7] - [10].

The above discussion illustrates the importance of planning that allows for the identification of the risks and anticipates their consequences, with the project becoming transparent, defensible, and demonstrably improved as decisions are made. The importance of planning is demonstrated by the various management methods used within construction and by specific methodologies for risk management [11] - [15].

However, these methodologies for risk management do not have structured processes for developing risk management models, leaving researchers and developers with the choice of tools and techniques to guide them in building their risk management models.

When we consider risk and its management as a success factor, it becomes clear that the perception of risk further complicates the problem. This diversity of perception makes decision making a matter of subjective judgment, based on intuition, personal experience, or internal company standards, rather than being based on a systematic review of the specific conditions of the project and market [16].

These tools must identify risks and measure the consequences, allowing for the creation of new ways to achieve the proposed goals and transform risky situations into sustainable competitive advantages [17] [18]. Such needs justify further research on the problem of how assessment and management models proposed for construction risks are developed and how these models address the unique aspects of risk perception.

According to Karlsson [19]one of the critical aspects of a survey is the scientific literature review, which helps the researcher to: Thus, as initial step to examine how risk management models proposed for construction are situated relative to the problem under consideration, this research aims to: The remainder of this paper is divided into six sections.

The next section presents the ProKnow-C process, and the following section presents the methodological framework of this research. The third section presents the research process used in databases to select a set of papers. The fourth section presents the bibliometric process used for demonstrating the relevance of the set of papers, the fifth section presents the opportunities for research that were identified, and the sixth section presents the conclusions of this research.

In this work, the ProKnow-C was used because it provides structured processes for the systematic review instead of having the researchers and developers choose the tools and techniques used to guide them in this task.

Moreover, the ProKnow-C has risk assessment and management in construction projects full thesis.htm used as a tool for building a robust and consistent theoretical framework by many researchers [22] - [32]justifying the choice of this instrument.

Methodology The methodological framework consists of an examination, description, or explanation of the approaches and tools used in this research to specify the set of methods, procedures, and philosophical assumptions underlying the topic and providing an optical context under which the research was designed and performed [32].

Thus, Table 1 aims to clarify the methodological framework used in this study according to the aspects described herein [34]. Summary of the methodological framework. Procedures for the Selection of Papers The ProKnow-C selects papers that will compose the bibliographic set based on three stages: Research Definitions The definition of research axes is the first step in establishing research definitions using the ProKnow-C.

Based on the proposed topic, this work adopts risk management in construction as the first axis of this research.

The second step consists of ordering the research chronologically.

  1. Selection of Papers for the Bibliographic Set After the validation of the research definitions, the process of selecting papers for the construction of bibliographic references was initiated.
  2. Cib w107 construction in developing countries international symposium the practice of project risk management in government projects.
  3. Construction project risk management system—with 83 citations; 2 Chapman Table 4. Thus, Table 1 aims to clarify the methodological framework used in this study according to the aspects described herein [34].

These procedures were performed in August 2011, with the next steps i. The procedure searched papers published in the 10 years preceding August 2011. The third step of establishing the research definitions is to identify the databases that will be accessed for consultation. The final step consists of defining the search risk assessment and management in construction projects full thesis.htm.

The following items were used: The main keywords were defined around the axes i. Table 2 presents the keywords and respective axes. The assertiveness of the proposed research definitions, particularly the keywords and databases, has been tested and approved according to the adhesion test proposed by the methodology adopted, ending this step. Selection of Papers for the Bibliographic Set After the validation of the research definitions, the process of selecting papers for the construction of bibliographic references was initiated.

These filters were applied to the general topic of the papers, and the filters allowed for the exclusion of papers associated with areas related to health e.

The results of this process are shown in Table 3sorted by the number of items obtained. To effectively organize the papers taken from the databases, items were imported into the Endnote application [37]which allows for the identification of duplicate papers, books, conference papers, and reprints. These duplicate items were excluded.

Duplicate papers were found because of the following reasons: The bibliographic set consisted of 5561 items after the exclusion of duplicate papers and books.

Search by papers using keywords in the selected databases 2001-2011ordered by number of papers in descending order. The next step consisted of selecting papers by aligning the titles, which identified duplicate papers not detected in the previous step.

These papers 72which were duplicated because of differences in the spelling of the name of the author or the title, were excluded.

The analysis of the alignment of the title allowed for the identification of 5005 papers with titles that were not aligned with the research aim.

These papers were excluded from the bibliographic set, which subsequently included 556 articles gross base papers, not repeated and aligned with the research aim. Next, the 556 papers of the bibliographic set were analyzed for scientific recognition.

This analysis was performed based on the number of citations that each paper had received since its publication, obtained through Google Scholar [38] and sorted in descending order.

This limit was based on the Pareto postulate, which states that most of the effect originates from a small number of causes. In the context of this research, this postulate states that the most cited articles minority will represent most of the scientific recognition in the current bibliographic set.

The 556 papers had a total of 5152 citations.

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  • Next, the 556 papers of the bibliographic set were analyzed for scientific recognition.

Thus, with the items sorted in descending order of the number risk assessment and management in construction projects full thesis.htm individual citations, the papers were selected until the value of the accumulated citations was equal to the cutoff value. This selection occurred for a paper with 10 citations. Because the lower limit was set papers with 10 citationsall items with more than nine citations were selected to compose the bibliographic set gross base papers, not repeated and with the title aligned with the research aim and scientific recognition.

After this process, the bibliographic set included 138 papers. The 418 least-cited papers would still go through a review process involving other criteria and could be integrated into the final bibliographic set of papers selected.

Thus, in the next step, the 138 papers in the bibliographic set were assessed to determine whether the abstract aligned with the research aim. This analysis resulted in the exclusion of 55 papers. After this step, the bibliographic set included 83 papers gross base papers, not repeated and with the title and abstract aligned with the research aim.

As previously mentioned, the set of 418 least-cited articles not considered due to the criterion of scientific recognition was the subject of a new review process. In this process, the article could be integrated into the bibliographic set if it had been published within less than two years of the analysis papers that have not yet had the opportunity to be cited and was written by some of the authors already present in the 83 selected papers.

According to these criteria, 127 papers published in 2009, 2010, and 2011 were identified among the least cited. Of this group, 72 papers had authors who were listed in the 83 selected papers bibliographic set. These 72 papers were assessed for alignment of the abstract with the research aim, which resulted in the inclusion of 62 new papers.

Thus, the bibliographic set included 145 papers. The search for the full text of the papers resulted in the exclusion of 36 papers because they were not available in full on the CAPES website [36]. After reading the full text of the remaining 109 papers, seven papers were identified that were not aligned with the research aim and were thus excluded and two papers were excluded because they were considered reprints the version with higher number of citations was kept in the final set.

Risk assessment and management in construction projects full thesis htm

Table 4 presents a summary of the selection process of papers for the construction of the theoretical framework bibliographic setand Table 5 lists the 23 selected papers, in alphabetical order by first author. Bibliometric Analysis of the Bibliographic Set A bibliometric analysis of the bibliographic set of papers that comprises the theoretical framework about risk management models used in construction is based on the quantitative evidence of statistical data for the management of information and scientific knowledge of a given subject, conducted by a document count [20]and includes the following steps: To illustrate the bibliometric analysis of the bibliographic set, the most relevant analysis of the first two items, i.

The main analysis of the first item considers the count of papers published by each journal within the bibliographic set and the count of each journal in the bibliographic references of the set. An analysis of the journals that published the selected papers illustrates that 1 the International Journal of Project Management includes five papers in the set; 2 Automation in Construction includes four papers; and 3 the Journal of Construction, Engineering and Management includes three papers.

Table 6 summarizes this analysis. The second analysis, i. Of these 309 references, the ten most relevant journals for the references are shown in Figure 1.

The second analysis, which identifies the scientific recognition of the 23 selected papers, was performed by counting the number of citations that each article has received since its publication. As illustrated in Figure 2this analysis highlights the following articles: Construction project risk management system—with 83 citations; 2 Chapman Table 4. Papers included in each step of the selection process. Papers selected for the bibliographic set alphabetically. Relevance of the journals.

Relevance of the references in the bibliographic set. The relevance risk assessment and management in construction projects full thesis.htm the articles that compose the theoretical framework can also be emphasized by considering the rank of the set to which the journals belong, which is provided by CAPES [42].

Systematic Analysis of the Selected Papers The systematic analysis advocated by ProKnow-C [20] is defined as a scientific process used to analyze a Figure 2. Relevance of papers according to scientific recognition. The systematic analysis is composed of the following steps: The first item, the identification of the criteria for the analysis or the research lenses is based on the definitions of risk and risk management proposed by PMBOK [13] and the definition of performance evaluation, proposed by Ensslin et al.

These concepts and the criteria derived from them are shown in Table 7Table 8respectively.