Risk Management on Concrete Structures as a Tool for the Control of Construction Efficiency

Matej Špak, Tomáš Mandičák (), Marcela Spišáková and Dominik Verčimák
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Matej Špak: Faculty of Civil Engineering, Technical University of Košice, Vysokoškolská 4, 04200 Košice, Slovakia
Tomáš Mandičák: Faculty of Civil Engineering, Technical University of Košice, Vysokoškolská 4, 04200 Košice, Slovakia
Marcela Spišáková: Faculty of Civil Engineering, Technical University of Košice, Vysokoškolská 4, 04200 Košice, Slovakia
Dominik Verčimák: Faculty of Civil Engineering, Technical University of Košice, Vysokoškolská 4, 04200 Košice, Slovakia

Sustainability, 2023, vol. 15, issue 12, 1-15

Abstract: Risk management in the construction industry has a significant role in the impact of a construction project. Risk management is needed to make processes more efficient in terms of the implementation of construction projects. This research is oriented to the management of risks regarding the concrete structures of residential buildings in Central Europe. This research provides insights into risk management procedures, based on a risk’s frequency, the probability of occurrence, and its impact on the effectiveness of construction projects for concrete structures. The aim of the research is to analyze the impact of risk management on the efficiency of construction projects for residential buildings and to propose a method of quantifying this impact, in terms of the technical and economic aspects, based on the calculated coefficients. This will assist in risk management by prioritizing those risks that will have the most significant impact on both the technical aspects and the efficiency of the project. The research results herein provide coefficients for determining the technical and economic impacts that can be implemented for risk management regarding the concrete structures used in the construction projects of residential buildings. The potential risks of concrete structures have been identified and divided into three groups. The scope and content of this study were chosen on the basis of the processes at individual stages. Construction management experts quantified the risk and probability levels according to the implemented projects. Based on the acquisition of these data, the rates of occurrence and impact, i.e., the extent of damaged parts (intensity), were determined. Subsequently, the significance factor was determined. To determine the efficiency, the net present value method was used, reflecting the investment’s time value. The values were adjusted for time and inflation, affecting the overall efficiency coefficient of construction projects. These data were obtained from Eurostat.

Keywords: management and efficiency of construction projects; sustainability; net present value; risk factor significance (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
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