Evaluating risk management practices in construction organizations

Abstract

Construction organizations in developing countries, approach risk management in construction projects by using a set of practicesthat are normally insufficient, produce poor results often, and limit the success of project management. This paper describes thedevelopment of an instrument based on an organizational maturity model for evaluating the risk-management capability ofconstruction organizations. This instrument has been applied to both, clients and contractors and is part of a general knowledgebasedsystem. Outcomes of this research will allow a client or contractor first, to develop or improve its project risk managementcapability based on international and local best practices and second, to continuously improve the performance of this functionalong the realization of new projects. The novelty of this approach is that it addresses the risk management function from aknowledge-based perspective and that it will be based in a web application that will be available to every organization.