Risk Management Practices in the United States of America

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 12 in Risk Management Practices in Construction, 2023, pp 141-152 from Springer

Abstract: Abstract The study of risk management (RM) began in the aftermath of World War II. It began with market insurance and then moved to other industries, such as finance, stock exchange, and construction projects, before finally becoming widespread. In its most basic form, risk management seeks to safeguard individuals and businesses against financial losses that may result from accidents. The US construction industry is one of the major pioneers of risk management concepts developed over the years. This concept has been reviewed over time in order to meet the present demand for sustainable buildings. Through different sections, by identifying the sources of risk, the purpose of risk management, and other related practices, the study gave an exclusive overview of risk management practices to achieve enhanced project delivery.

Keywords: Project risk; Project success; Risk identification; Risk management; Risk properties; Sustainable building (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_12

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DOI: 10.1007/978-3-031-35557-8_12

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