Management of Risk in Construction

The aim of this learning package is to introduce you to the importance of Risk Management as part of Project Management in the Construction Industry. In life there are risks: in driving a car, crossing the road or playing various sports. So too in business although in many cases such risk uncertainties are naturally associated with a financial risk compared to the market volatility. Whilst the management of corporate financial risk is undertaken through a very specialist risk discipline, this learning package looks at the subject of risk management from a construction project viewpoint where such risks can be internally or externally driven and may impact on the project’s stated scope, schedule and cost objectives.

The learning package will introduce you to risk in construction projects and covers how to identify risk, considers risk and organisational culture, and looks in detail at the management of risk and the processes and systems associated with it.

  • Learning Material

    • Document 1: Introduction to Risk ManagementSubmitted: Wed, 08 Jun 2011

      First read through this opening Word document which explains the concept of risk management in construction.

    • Presentation 1: Introduction to Risk ManagementSubmitted: Wed, 08 Jun 2011

      A series of 37 introductory PowerPoint slides outlining Risk Management in construction projects.

      External Resource: Further Reading - Supply Chain Risk
      - Paper: Burtonshaw - Gunn, S. (2004) Examining Risk and Supply Chain Collaborative Working in the UK Construction Industry. In: C. BRINDLEY, ed. Supply Chain Risk. Ashgate Publications, 2004.

    • Presentation 2: Culture and Risk Management PlanningSubmitted: Wed, 08 Jun 2011

      A series of 24 PowerPoint slides covering the approaches to risk in contractor organisations and outlining the risk management process.

    • Presentation 3: Risk Management in the Project lifecycle Submitted: Wed, 08 Jun 2011

      A series of 15 PowerPoint slides covering risk management from corporate to project implementation levels.

    • Presentation 4: Risk Management on International Projects Submitted: Wed, 08 Jun 2011

      A series of 8 PowerPoint slides designed to prompt thoughts on the risks involved for primary contractors in managing international construction projects.

      External Resource: Further Reading - International Risks
      - Technical Article: Dey, P. (2009) Managing Risks of Large Scale Construction Projects, Cost Engineering 51 (6), 23
      - Paper: Considerations of pre- Contract risks in International PFI Construction Projects

  • Evidence Based Case Study

    • Case Study: Risk Assessment for Contract BricklayersSubmitted: Thu, 25 Aug 2011

      Provides an example risk assessment for a contract bricklayer to help you see ehat a risk assessment might look like.

      Online: http://www.hse.gov.uk/risk/casestudies/pdf/bricklayers.pdf

      Supportive Documents:
      - External Resource: Five steps to risk assessment

    • Case Study: Sydney Opera House (Part One)Submitted: Thu, 25 Aug 2011

      A general case study using Sydney Opera House. Part One of this case study will present questions based on the learning materials.

    • Case Study: Sydney Opera House (Part Two)Submitted: Thu, 25 Aug 2011

      The second part of the case study will present ideas for best practice and conclusions.

  • Self Assessment and Solutions

  • External Resource

    • Further Reading: Risk ManagementSubmitted: Wed, 08 Jun 2011

      Sources of information and a list of web sites for additional help.

    • Further Reading: Supply Chain RiskSubmitted: Wed, 08 Jun 2011

      Paper: Burtonshaw-Gunn, S. (2004) Examining Risk and Supply Chain Collaborative Working in the UK Construction Industry. In: C. BRINDLEY, ed. Supply Chain Risk. Ashgate Publications, 2004.

    • Further Reading: International RisksSubmitted: Wed, 08 Jun 2011

      Technical Article: Dey, P. (2009) Managing Risks of Large Scale Construction Projects, Cost Engineering 51 (6), 23

    • Further Reading: International Risk 2Submitted: Wed, 08 Jun 2011

      Paper: Burtonshaw-Gunn, S. (2009) Considerations of pre- Contract risks in International PFI Construction Projects

    • Further Reading: Achieving Excellence in Construction Procurement GuideSubmitted: Wed, 08 Jun 2011

      Risk and Value Management; Achieving Excellence in Construction Procurement Guide, Office of Government Commerce (2007)

      The guide summarises the key principles of risk and value management in the context of construction projects and describes the practical steps that need to be taken over the project lifecycle.

    • HSE Five Steps to Risk AssessmentSubmitted: Thu, 25 Aug 2011

      Great Britain (2011) Five Steps to Risk Assessment. Sudbury, Health and Safety Executive.

    • Further Reading: Project Risk ManagementSubmitted: Thu, 25 Aug 2011

      Sudirman, W., & Hardjomuljadi, S. (2001) Project Risk Management in Hydropower Plant Projects: a Case Study from the State-owned Electricity Company of Indonesia, Social Science Research Network. (Online) Available at http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1853943#

    • IOD Risk Assessment GuideSubmitted: Thu, 25 Aug 2011

      Online: www.iod.com/hsguide


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