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A systematic approach to risk management for construction

journal contribution
posted on 2001-01-01, 00:00 authored by Anthony MillsAnthony Mills
Systematic risk management is expecting the unexpected – it is a tool which helps control risks in construction projects. Its objective is to introduce a simple, practical method of identifying, assessing, monitoring and managing risk in an informed and structured way. It provides guidance for implementing a risk control strategy that is appropriate to control construction projects at all levels. This paper will review systematic management approaches to risk. It discusses the allocation of risk and suggests that risk needs to be identified and managed early in the procurement process. In addition, a case study of a small project that was affected by difficult economic circumstances is included to demonstrate the effectiveness of systematic risk management.

History

Journal

Structural survey

Volume

19

Issue

5

Pagination

245 - 252

Publisher

Emerald Group Publishing

Location

Bingley, England

ISSN

0263-080X

eISSN

1758-6844

Language

eng

Notes

Reproduced with the kind permission of the copyright owner.

Publication classification

C1.1 Refereed article in a scholarly journal

Copyright notice

2001, MCB University Press

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