IDEAS home Printed from https://ideas.repec.org/a/taf/conmgt/v15y1997i4p363-369.html
   My bibliography  Save this article

An analysis of contractors' approaches to risk identification in New South Wales, Australia

Author

Listed:
  • D. Bajaj
  • J. Oluwoye
  • D. Lenard

Abstract

This study addresses the process of risk identification at the tendering and estimating stage, which is the first stage of the risk management process, and for the risk management process be of benefit and for the project objectives to be achieved, the risk identification stage should be very detailed and thorough. The aim of this study is to identify, investigate and evaluate the process of risk identification at the tendering and estimating stage for construction contractors in the NSW region. The data for this were collected during the months of December '94 and January '95 using a sample survey of a cross-section of 19 construction contractors, and the results were analysed using frequency distribution. The results show that the most frequently used methods of risk identification are the top-down approach techniques, where the project is analysed from an overall point of view. Techniques based on top-down approach lead to guesswork in terms of contingency for risks accepted by the construction contractors. Bottom-up risk identification techniques are not popular except for a questionnaire and check-list approach. Also, it was unlikely that the contractors would discuss risk allocation with the clients. All the contractors interviewed agreed that when a risk identification process is followed it improves the accuracy of their estimates.

Suggested Citation

  • D. Bajaj & J. Oluwoye & D. Lenard, 1997. "An analysis of contractors' approaches to risk identification in New South Wales, Australia," Construction Management and Economics, Taylor & Francis Journals, vol. 15(4), pages 363-369.
    • Handle: RePEc:taf:conmgt:v:15:y:1997:i:4:p:363-369
    DOI: 10.1080/014461997372917
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/014461997372917
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/014461997372917?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:conmgt:v:15:y:1997:i:4:p:363-369. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RCME20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.