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Risk management in the Pakistan construction industry : a contractors' perspective | |
Author | Malik, Asif Hameed |
Call Number | AIT Thesis no.CM-05-1 |
Subject(s) | Risk management--Pakistan Construction industry--Pakistan Contractors--Pakistan |
Note | A thesis submitted in partial fulfillment of the requirements for the degree of Master of Engineering., School of Engineering and Technology |
Publisher | Asian Institute of Technology |
Abstract | The research study, on the basis of a questionnaire survey, describes the perception of construction contractors in Pakistan about the risk associated with its activities and the extent to which the industry uses risk analysis and management techniques. The study has investigated the perception of the contractors regarding risk importance and risk allocation. The purpose was to provide insight into the current attitude of Pakistani contractors towards construction risk allocation and also to examine the importance of different risk categories. Risk management practices in the construction industry of Pakistan have also been presented and discussed. First the organizational culture and support to the risk management is described and it is found that the importance of systematic risk management is well recognized in the Pakistan construction industry while the practice is far behind its importance. Then the extent/scope, responsibilities and problems in the risk identification; risk analysis; risk response; risk monitoring and control processes are discussed. The research results indicated that the application of the formal risk management techniques in the Pakistan construction industry is limited. It is also investigated that there is a lack of formal risk management teams in organizations and roles and responsibilities are not stated. The main difficulties during the risks management processes in the descending order are: the lack of qualified experts; lack of budget; complexity of tools and techniques; lack of top management commitment and support; and lack of historical data. This research also presents two types of risk management methods: preventive, which are effective at the early stages of the project life, and mitigative, which are remedial actions aimed at risk minimization during construction. At the end, risk allocation between the parties involved, through contract and insurance, is discussed |
Year | 2005 |
Type | Thesis |
School | School of Engineering and Technology (SET) |
Department | Department of Civil and Infrastucture Engineering (DCIE) |
Academic Program/FoS | Construction Engineering and Infrastructure Management (CM) |
Chairperson(s) | Ogunlana, Stephen 0. |
Examination Committee(s) | Hadikusumo, Bonaventura H. W.;Hanaoka, Shinya |
Scholarship Donor(s) | AIT and Higher Education Commission of Pakistan |
Degree | Thesis (M.Eng.) - Asian Institute of Technology, 2005 |