Abstract
A review of published studies on risk management in developing countries reveals that critical success factors for implementing risk management has remained an under-researched area of investigation. This paper is aimed at investigating the perceptions of construction professionals concerning the critical success factors (CSFs) for implementation of risk management systems (IRMS). Survey data was collected from 87 construction professionals from the Iranian construction industry as a developing country. The results indicate that four factors are regarded as highly critical: ‘support from managers’, ‘inclusion of risk management in construction education and training courses for construction practitioners’, ‘attempting to deliver projects systematically’, and ‘awareness and knowledge of the process for implementing risk management’. Assessing the associations among CSFs also highlighted the crucial role of enhancing the effectiveness of knowledge management practices in construction organisations. Study also revealed that parties involved in projects do not agree on the level of importance of CSFs for implementing risk management in developing countries. This study contributes to practice and research in several ways. For practice, it increases understanding of how closely knowledge management is associated with the implementation of risk management systems in developing countries. For research, the findings would encourage construction practitioners to support effective knowledge management as a precursor to higher levels of risk management implementation on construction projects.
| Original language | English |
|---|---|
| Pages (from-to) | 18-32 |
| Number of pages | 15 |
| Journal | Construction Economics and Building |
| Volume | 16 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 2016 |
| Externally published | Yes |
Keywords
- Critical success factors
- Developing countries
- Risk management
- The construction industry
Cite this
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Critical success factors for implementing risk management systems in developing countries. / Reza Hosseini, M.; Chileshe, Nicholas; Jepson, Jacqueline; Arashpour, Mehrdad.
In: Construction Economics and Building, Vol. 16, No. 1, 2016, p. 18-32.Research output: Contribution to journal › Article › Research › peer-review
TY - JOUR
T1 - Critical success factors for implementing risk management systems in developing countries
AU - Reza Hosseini, M.
AU - Chileshe, Nicholas
AU - Jepson, Jacqueline
AU - Arashpour, Mehrdad
PY - 2016
Y1 - 2016
N2 - A review of published studies on risk management in developing countries reveals that critical success factors for implementing risk management has remained an under-researched area of investigation. This paper is aimed at investigating the perceptions of construction professionals concerning the critical success factors (CSFs) for implementation of risk management systems (IRMS). Survey data was collected from 87 construction professionals from the Iranian construction industry as a developing country. The results indicate that four factors are regarded as highly critical: ‘support from managers’, ‘inclusion of risk management in construction education and training courses for construction practitioners’, ‘attempting to deliver projects systematically’, and ‘awareness and knowledge of the process for implementing risk management’. Assessing the associations among CSFs also highlighted the crucial role of enhancing the effectiveness of knowledge management practices in construction organisations. Study also revealed that parties involved in projects do not agree on the level of importance of CSFs for implementing risk management in developing countries. This study contributes to practice and research in several ways. For practice, it increases understanding of how closely knowledge management is associated with the implementation of risk management systems in developing countries. For research, the findings would encourage construction practitioners to support effective knowledge management as a precursor to higher levels of risk management implementation on construction projects.
AB - A review of published studies on risk management in developing countries reveals that critical success factors for implementing risk management has remained an under-researched area of investigation. This paper is aimed at investigating the perceptions of construction professionals concerning the critical success factors (CSFs) for implementation of risk management systems (IRMS). Survey data was collected from 87 construction professionals from the Iranian construction industry as a developing country. The results indicate that four factors are regarded as highly critical: ‘support from managers’, ‘inclusion of risk management in construction education and training courses for construction practitioners’, ‘attempting to deliver projects systematically’, and ‘awareness and knowledge of the process for implementing risk management’. Assessing the associations among CSFs also highlighted the crucial role of enhancing the effectiveness of knowledge management practices in construction organisations. Study also revealed that parties involved in projects do not agree on the level of importance of CSFs for implementing risk management in developing countries. This study contributes to practice and research in several ways. For practice, it increases understanding of how closely knowledge management is associated with the implementation of risk management systems in developing countries. For research, the findings would encourage construction practitioners to support effective knowledge management as a precursor to higher levels of risk management implementation on construction projects.
KW - Critical success factors
KW - Developing countries
KW - Risk management
KW - The construction industry
UR - http://www.scopus.com/inward/record.url?scp=84960126249&partnerID=8YFLogxK
U2 - 10.5130/AJCEB.v1i1.4651
DO - 10.5130/AJCEB.v1i1.4651
M3 - Article
VL - 16
SP - 18
EP - 32
JO - Construction Economics and Building
JF - Construction Economics and Building
SN - 2204-9029
IS - 1
ER -