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Assembling integrated project teams for joint risk management

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  • M. Motiar Rahman
  • Mohan Kumaraswamy

Abstract

Exhaustive risk allocation cannot be achieved through contract conditions, because all risk items cannot be foreseen at the planning stage. Effective management of unforeseen risks/events at post-contract stage needs the collective efforts of all major contracting parties. The attitude and motivation of project participants are critical to such collaborative arrangements. Project 'partners' need to be conditioned, starting with their selection processes, by incorporating appropriate 'soft' or relational qualities as important selection criteria. They would then need to work under suitable teambuilding protocols, with flexible contract conditions and appropriate adjustment mechanisms that would all be tailored to suit each specific project. The theoretical construct so developed is examined through a series of recent Hong Kong based studies on 'joint risk management'. Results lead to the development of a framework for building a coalesced team that includes owners, consultants, contractors, subcontractors and suppliers.

Suggested Citation

  • M. Motiar Rahman & Mohan Kumaraswamy, 2005. "Assembling integrated project teams for joint risk management," Construction Management and Economics, Taylor & Francis Journals, vol. 23(4), pages 365-375.
    • Handle: RePEc:taf:conmgt:v:23:y:2005:i:4:p:365-375
    DOI: 10.1080/01446190500040083
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    References listed on IDEAS

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    1. M. Motiar Rahman & Mohan Kumaraswamy, 2002. "Joint risk management through transactionally efficient relational contracting," Construction Management and Economics, Taylor & Francis Journals, vol. 20(1), pages 45-54.
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    Cited by:

    1. Hemanta Doloi, 2009. "Relational partnerships: the importance of communication, trust and confidence and joint risk management in achieving project success," Construction Management and Economics, Taylor & Francis Journals, vol. 27(11), pages 1099-1109.
    2. Gabriel Jobidon & Pierre Lemieux & Robert Beauregard, 2019. "Comparison of Quebec’s Project Delivery Methods: Relational Contract Law and Differences in Contractual Language," Laws, MDPI, vol. 8(2), pages 1-75, April.
    3. Agnieszka Jagoda & Tomasz Kolakowski & Jakub Marcinkowski, 2020. "Project Teams as a Supply Chain Integration Tool," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 2), pages 1160-1177.
    4. Khwaja Mateen Mazher & Albert P. C. Chan & Rafiq M. Choudhry & Hafiz Zahoor & David J. Edwards & Ahmed M. Ghaithan & Awsan Mohammed & Mubashir Aziz, 2022. "Identifying Measures of Effective Risk Management for Public–Private Partnership Infrastructure Projects in Developing Countries," Sustainability, MDPI, vol. 14(21), pages 1-19, October.

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