Critical success factors for implementing risk management systems in developing countries

M. Reza Hosseini, Nicholas Chileshe, Jacqueline Jepson, Mehrdad Arashpour

Research output: Contribution to journalArticleResearchpeer-review

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 languageEnglish
Pages (from-to)18-32
Number of pages15
JournalConstruction Economics and Building
Volume16
Issue number1
DOIs
Publication statusPublished - 2016
Externally publishedYes

Keywords

  • Critical success factors
  • Developing countries
  • Risk management
  • The construction industry

Cite this

Reza Hosseini, M. ; Chileshe, Nicholas ; Jepson, Jacqueline ; Arashpour, Mehrdad. / Critical success factors for implementing risk management systems in developing countries. In: Construction Economics and Building. 2016 ; Vol. 16, No. 1. pp. 18-32.
@article{3de2a2522c1c4ce1b47258023adbf76d,
title = "Critical success factors for implementing risk management systems in developing countries",
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.",
keywords = "Critical success factors, Developing countries, Risk management, The construction industry",
author = "{Reza Hosseini}, M. and Nicholas Chileshe and Jacqueline Jepson and Mehrdad Arashpour",
year = "2016",
doi = "10.5130/AJCEB.v1i1.4651",
language = "English",
volume = "16",
pages = "18--32",
journal = "Construction Economics and Building",
issn = "2204-9029",
publisher = "UTS ePRESS",
number = "1",

}

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 journalArticleResearchpeer-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 -