Accessibility navigation


An experimental approach to project risk identification and prioritization

Downloads

Downloads per month over past year

Laryea, S. A. (2007) An experimental approach to project risk identification and prioritization. In: Construction Management and Economics 25th Anniversary Conference, 15-18 July 2007, University of Reading, UK.

[img] Text - Accepted Version
· Please see our End User Agreement before downloading.

184Kb

Abstract/Summary

One of the aims of a broad ethnographic study into how the apportionment of risk influences pricing levels of contactors was to ascertain the significant risks affecting contractors in Ghana, and their impact on prices. To do this, in the context of contractors, the difference between expected and realized return on a project is the key dependent variable examined using documentary analyses and semi-structured interviews. Most work in this has focused on identifying and prioritising risks using relative importance indices generated from the analysis of questionnaire survey responses. However, this approach may be argued to constitute perceptions rather than direct measures of the project risk. Here, instead, project risk is investigated by examining two measures of the same quantity; one ‘before’ and one ‘after’ construction of a project has taken place. Risks events are identified by ascertaining the independent variables causing deviations between expected and actual rates of return. Risk impact is then measured by ascertaining additions or reductions to expected costs due to the occurrence of risk events. So far, data from eight substantially complete building projects indicates that consultants’ inefficiency, payment delays, subcontractor-related problems and changes in macroeconomic factors are significant risks affecting contractors in Ghana.

Item Type:Conference or Workshop Item (Paper)
Refereed:Yes
Divisions:Faculty of Science > School of Construction Management and Engineering > Business Innovation in Construction
ID Code:16294

Download Statistics for this item.

University Staff: Request a correction | Centaur Editors: Update this record

Page navigation