IDEAS home Printed from https://ideas.repec.org/a/taf/conmgt/v22y2004i3p237-252.html
   My bibliography  Save this article

Risk management framework for construction projects in developing countries

Author

Listed:
  • Shou Qing Wang
  • Mohammed Fadhil Dulaimi
  • Muhammad Yousuf Aguria

Abstract

It is important to manage the multifaceted risks associated with international construction projects, in particular in developing countries, not only to secure work but also to make profit. This research seeks to identify and evaluate these risks and their effective mitigation measures and to develop a risk management framework which the international investors/developers/contractors can adopt when contracting construction work in developing countries. A survey was conducted and twenty-eight critical risks were identified, categorized into three (country, market and project) hierarchical levels and their criticality evaluated and ranked. For each of the identified risks, practical mitigation measures have also been proposed and evaluated. Almost all mitigation measures have been perceived by the survey respondents as effective. A risk model, named Alien Eyes' Risk Model, which shows the hierarchical levels of the risks and the influence relationship among the risks, is also proposed. Based on the findings, a qualitative risk mitigation framework was finally proposed which will benefit the risk management of construction project in developing countries.

Suggested Citation

  • Shou Qing Wang & Mohammed Fadhil Dulaimi & Muhammad Yousuf Aguria, 2004. "Risk management framework for construction projects in developing countries," Construction Management and Economics, Taylor & Francis Journals, vol. 22(3), pages 237-252.
    • Handle: RePEc:taf:conmgt:v:22:y:2004:i:3:p:237-252
    DOI: 10.1080/0144619032000124689
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/0144619032000124689
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/0144619032000124689?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:22:y:2004:i:3:p:237-252. 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.