Framework for Risk Management Software System for SMEs in the Engineering Construction Sector

2.50
Hdl Handle:
http://hdl.handle.net/2436/620807
Title:
Framework for Risk Management Software System for SMEs in the Engineering Construction Sector
Authors:
Oduoza, Chike F.; Odimabo, Onengiyeofori; Tamparapoulos, Alexios
Abstract:
Small and medium-sized enterprises (SMEs) in construction sector are vulnerable and face exposure to risks whilst operating without risk management system in place. Evidence from market research and industry surveys confirm that SMEs underperform due to inability to manage operational risk challenges facing them. The objective of this study is to develop risk management software enabling SMEs in the construction sector to proactively identify, analyse and manage risks facing them to enhance business performance. Performance in the construction sector is assessed in terms of completion time, project execution cost and overall quality of delivery. Research framework based on balanced score card highlights risk indicators affecting performance. The risk software guides operator to avoid, minimise, mitigate or manage the relevant risks to enable successful performance outcome. The system will enable systematic risk management to achieve minimum cost and time overrun while optimising quality of delivery in a project management environment.
Citation:
Framework for Risk Management Software System for SMEs in the Engineering Construction Sector 2017, 11:1231 Procedia Manufacturing
Publisher:
Elsevier (Science Direct)
Journal:
Procedia Manufacturing
Issue Date:
2017
URI:
http://hdl.handle.net/2436/620807
DOI:
10.1016/j.promfg.2017.07.249
Additional Links:
http://linkinghub.elsevier.com/retrieve/pii/S2351978917304572
Type:
Article
Language:
en
ISSN:
2351-9789
Sponsors:
EU FP7 Marie Curie Award
Appears in Collections:
FSE

Full metadata record

DC FieldValue Language
dc.contributor.authorOduoza, Chike F.en
dc.contributor.authorOdimabo, Onengiyeoforien
dc.contributor.authorTamparapoulos, Alexiosen
dc.date.accessioned2017-10-27T08:51:45Z-
dc.date.available2017-10-27T08:51:45Z-
dc.date.issued2017-
dc.identifier.citationFramework for Risk Management Software System for SMEs in the Engineering Construction Sector 2017, 11:1231 Procedia Manufacturingen
dc.identifier.issn2351-9789en
dc.identifier.doi10.1016/j.promfg.2017.07.249-
dc.identifier.urihttp://hdl.handle.net/2436/620807-
dc.description.abstractSmall and medium-sized enterprises (SMEs) in construction sector are vulnerable and face exposure to risks whilst operating without risk management system in place. Evidence from market research and industry surveys confirm that SMEs underperform due to inability to manage operational risk challenges facing them. The objective of this study is to develop risk management software enabling SMEs in the construction sector to proactively identify, analyse and manage risks facing them to enhance business performance. Performance in the construction sector is assessed in terms of completion time, project execution cost and overall quality of delivery. Research framework based on balanced score card highlights risk indicators affecting performance. The risk software guides operator to avoid, minimise, mitigate or manage the relevant risks to enable successful performance outcome. The system will enable systematic risk management to achieve minimum cost and time overrun while optimising quality of delivery in a project management environment.en
dc.description.sponsorshipEU FP7 Marie Curie Awarden
dc.language.isoenen
dc.publisherElsevier (Science Direct)en
dc.relation.urlhttp://linkinghub.elsevier.com/retrieve/pii/S2351978917304572en
dc.rightsArchived with thanks to Procedia Manufacturingen
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.subjectRisken
dc.subjectSoftwareen
dc.subjectSMEsen
dc.subjectConstruction Engineeringen
dc.subjectBalanced Scorecarden
dc.titleFramework for Risk Management Software System for SMEs in the Engineering Construction Sectoren
dc.typeArticleen
dc.identifier.journalProcedia Manufacturingen
dc.date.accepted2017-08-
rioxxterms.funderEU FP7 Marie Curie Awarden
rioxxterms.identifier.projectUoW271017CFOen
rioxxterms.versionVoRen
rioxxterms.licenseref.urihttps://creativecommons.org/CC BY-NC-ND 4.0en
rioxxterms.licenseref.startdate2017-10-27en
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