Risk Management Practices in Australia

Ayodeji E. Oke, Pelumi E. Adetoro, Seyi S. Stephen, Clinton O. Aigbavboa (), Lukman O. Oyewobi () and Douglas O. Aghimien
Additional contact information
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 9 in Risk Management Practices in Construction, 2023, pp 107-117 from Springer

Abstract: Abstract Risks that have not been identified and handled pose an undeniable threat to the project’s objectives, potentially resulting in major cost and time overruns. Risk management is a proactive decision that entails several steps, including risk identification, analysis, risk response and communication, monitoring, review, and learning. This chapter focused on risk management practice in Australia by providing guidelines and principles for establishing an effective risk management framework. The chapter also provided the finest risk management framework and process for Australian construction projects, which was adapted from AS/NZS ISO 31000:2009. The concluding sections of the chapter gave the benefits and other related topics pertaining to the Australian construction industry.

Keywords: Construction risk; Project risk; Risk analysis; Risk communication; Risk identification; Risk response (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-35557-8_9

Ordering information: This item can be ordered from
http://www.springer.com/9783031355578

DOI: 10.1007/978-3-031-35557-8_9

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().