Risk Management Practices in Sweden

Ayodeji E. Oke, Pelumi E. Adetoro, Seyi S. Stephen, Clinton O. Aigbavboa (), Lukman O. Oyewobi () and Douglas O. Aghimien
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Ayodeji E. Oke: Federal University of Technology Akure
Pelumi E. Adetoro: Malawi University of Business and Applied Sciences
Seyi S. Stephen: University of Johannesburg
Clinton O. Aigbavboa: University of Johannesburg
Lukman O. Oyewobi: Federal University of Technology Minna
Douglas O. Aghimien: De Mont Fort University

Chapter Chapter 11 in Risk Management Practices in Construction, 2023, pp 133-140 from Springer

Abstract: Abstract Infrastructural development in any country would certainly enhance the economic growth of such a country and generate job opportunities. Through different practices and concepts, the construction industry in Sweden has improved tremendously over the years. Several attempts have been made in Sweden to address the issue of risk management using various methodologies. This chapter assessed the Work Environment Act (AML) and other construction bodies or regulations that are part of Swedish law that ensures adequate risk management in construction contracts with the aim of bridging knowledge gap. Other sections of the chapter discussed the history of risk management in the country, factors that affect effective implement of the practice, and other related topics. The chapter concluded that more still needs to be done in order to move the country’s construction toward that which is risk-free through identified risk management frameworks used in several other developed countries of the world.

Keywords: Construction risk; Project delivery; Project risk; Risk framework; Risk management; Risk valuation (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-35557-8_11

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DOI: 10.1007/978-3-031-35557-8_11

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