Key risks in construction projects in Italy: contractors’ perspective

2.50
Hdl Handle:
http://hdl.handle.net/2436/620536
Title:
Key risks in construction projects in Italy: contractors’ perspective
Authors:
Rostami, Ali; Oduoza, Chike F.
Abstract:
Purpose Risks play an important role in the success of construction projects. Failure in identification and assessment of risks can lead to inadequacy in the process of managing risks, which in turn can critically affect the projects’ resources. A formal risk management is rarely practised in construction projects due to the lack of contractors’ awareness of key risks. The purpose of this paper is to focus on the investigation of risk factors in construction projects in Italy from contractors’ perspective. Design/methodology/approach Semi-structured interviews were conducted to collect data, based on which a total of ten key risks were ascertained. The identified risks were compared with the findings of the surveys conducted in the Australian and Chinese construction industry to address the unique risks associated with construction projects in Italy. Findings The key risks included delays in payments, client variations, design variations, inaccurate cost estimates, and tight project schedules. The comparison between those three countries specified the delays in payments and project funding problems as the most critical factors that are related to cultural influences and behaviour of clients. The findings assist contractors in the risk identification process, and can be applied to the development of a risk management framework for construction projects. Research limitations/implications The findings of this study cannot be generalised statistically for the whole of Italy as it was constrained geographically, with respondents drawn only from a self-selection sample of construction projects in the Veneto region of Northern Italy. The findings represent a snapshot of the key potential internal and external risks from the perspective of contractors. Originality/value The results of the study specified the key risks of construction projects from the perspective of contractors which can contribute to risk management for construction projects.
Citation:
Key risks in construction projects in Italy: contractors’ perspective 2017, 24 (3):451 Engineering, Construction and Architectural Management
Publisher:
Emerald
Journal:
Engineering, Construction and Architectural Management
Issue Date:
15-May-2017
URI:
http://hdl.handle.net/2436/620536
DOI:
10.1108/ECAM-09-2015-0142
Additional Links:
http://www.emeraldinsight.com/doi/10.1108/ECAM-09-2015-0142
Type:
Article
Language:
en
ISSN:
0969-9988
Appears in Collections:
FSE

Full metadata record

DC FieldValue Language
dc.contributor.authorRostami, Alien
dc.contributor.authorOduoza, Chike F.en
dc.date.accessioned2017-06-27T08:39:44Z-
dc.date.available2017-06-27T08:39:44Z-
dc.date.issued2017-05-15-
dc.identifier.citationKey risks in construction projects in Italy: contractors’ perspective 2017, 24 (3):451 Engineering, Construction and Architectural Managementen
dc.identifier.issn0969-9988en
dc.identifier.doi10.1108/ECAM-09-2015-0142-
dc.identifier.urihttp://hdl.handle.net/2436/620536-
dc.description.abstractPurpose Risks play an important role in the success of construction projects. Failure in identification and assessment of risks can lead to inadequacy in the process of managing risks, which in turn can critically affect the projects’ resources. A formal risk management is rarely practised in construction projects due to the lack of contractors’ awareness of key risks. The purpose of this paper is to focus on the investigation of risk factors in construction projects in Italy from contractors’ perspective. Design/methodology/approach Semi-structured interviews were conducted to collect data, based on which a total of ten key risks were ascertained. The identified risks were compared with the findings of the surveys conducted in the Australian and Chinese construction industry to address the unique risks associated with construction projects in Italy. Findings The key risks included delays in payments, client variations, design variations, inaccurate cost estimates, and tight project schedules. The comparison between those three countries specified the delays in payments and project funding problems as the most critical factors that are related to cultural influences and behaviour of clients. The findings assist contractors in the risk identification process, and can be applied to the development of a risk management framework for construction projects. Research limitations/implications The findings of this study cannot be generalised statistically for the whole of Italy as it was constrained geographically, with respondents drawn only from a self-selection sample of construction projects in the Veneto region of Northern Italy. The findings represent a snapshot of the key potential internal and external risks from the perspective of contractors. Originality/value The results of the study specified the key risks of construction projects from the perspective of contractors which can contribute to risk management for construction projects.en
dc.language.isoenen
dc.publisherEmeralden
dc.relation.urlhttp://www.emeraldinsight.com/doi/10.1108/ECAM-09-2015-0142en
dc.rightsArchived with thanks to Engineering, Construction and Architectural Managementen
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.subjectItalyen
dc.subjectConstruction managementen
dc.subjectRisk managementen
dc.subjectContractorsen
dc.subjectRisk factorsen
dc.subjectConstruction projectsen
dc.titleKey risks in construction projects in Italy: contractors’ perspectiveen
dc.typeArticleen
dc.identifier.journalEngineering, Construction and Architectural Managementen
dc.date.accepted2017-05-
rioxxterms.funderInternalen
rioxxterms.identifier.projectUoW270617COen
rioxxterms.versionAMen
rioxxterms.licenseref.urihttps://creativecommons.org/CC BY-NC-ND 4.0en
rioxxterms.licenseref.startdate2018-06-27en
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