Deploying Successful Project Controlling and Risk Management Techniques Within The German Construction Industry (2021)
Risk Management in Construction Projects Dissertation – Construction projects involve several risks that need proactive approach from the construction project teams to manage project costs, timeline and resources efficiently over the project life cycle. In order to exercise a better project control and risk management, various tools and techniques can be used as methodologies to control project scope, costs, timeline and quality when working in the construction industry to meet broader client needs.
A wide variety of constraints has to be realized in managing construction projects through optimum project control and risk management approach to be specific to design and build construction projects successfully. In order to do so, risk management and project management approaches has to be identified to identify risks, analyze and assess risks and propose a better project management approach to initiate a project with project scope, project documentation and achievement of project closure meeting client needs.
The current study identifies controlling and risk management approach that a construction company can adopt or exercise to achieve optimum satisfaction of their clients through efficient management of costs, timeline and budgetary resources to be sure about the successful accomplishment of project objectives. Risk is one of the key factor that has to be determined on priority basis because it can positively or negatively influence the working of a construction company.
In order to better control construction project activities and to mitigate project risks, a construction company has to build stronger competitive advantage by developing and maintaining key competencies and skills to maximize market share of the construction company by successfully completing construction projects and enhancing the reputation of the firm in maintaining the maturity stage of the firm’s life cycle in which it succeeds in maintaining the peak stage for all of its activities by reorganizing, encouraging and retaining peak performance in construction projects.
Dissertation objectives
The current study has been conducted to investigate the nature of relationship between the controlling and effective risk management and the success of construction company projects.
The following research aims and objectives are also taken into consideration in conducting this research work;
- To identify the risk factors that can damage the process of a construction project due to the severity of the risk
- To investigate the aware of the management of a construction company to ensure efficient controls and risk management principles by applying their knowledge to manage projects
- To identify the success criteria that has to be achieved in construction projects through efficient risk management approach
- 12,000 words – 36 pages in length
- Excellent use of literature
- Good analysis of subject area
- Well written throughout
- Ideal for construction project management students
1 – Introduction
2 – Definitions and Basics A Review of Existing Literature
Project Controlling
Risk Management in Construction
Definition of Risk
Classification of risks
Managing Risks in Construction Projects
Project Management in Construction Projects
Types of Construction Projects
Key Principles of Construction Project Management
Nature of the Construction Projects
Distinguishing between Private and Public-sector Construction Projects
Building Costs and Client Priorities in Construction Projects
Conception of Construction Projects Risks
3 – Controlling and Risk Management in the Construction Sector
Controls in Construction Projects
Managerial Control
Controlling Staff and Labor workforce
Financial and Budgetary Control
Auditing of Construction Projects
Risk Management in Construction Projects
Process of Risk Management (Planning, Risk identification, Risk Analysis)
Probability and Impact assessment
Cause and Effect diagram in Risk Management
Probability and Impact Matrix
Planning to ensure health and safety of Construction Projects
Consulting and engaging with Employees about their health, safety and welfare
Leadership commitment to employee health and safety management
Setting up Health and Safety Committees within the Business
Monitoring Health and Safety Programs and tracking results
Securing relevant references and other evidences by appointing knowledgeable, skillful and experienced safety professionals
4 – Empirical Investigation
Methods of Investigation
Data Collection and Investigation
Limitations of the current study
Interpretation of research results
The demographics of the research participants
Risk Probability and Impact of Risks across three construction projects of the construction company
Risk identification and risk management in selected construction company
Risk Mitigation, Health and ensuring safety of employees
5 – Conclusion
Summary of the Study
Recommendations for further research
References
Appendix
Questionnaire from Construction Company professionals
Risk Management in Construction project lifecycle
Illustration of Risk Management Approach in Construction Projects
Types of Construction Projects by Project Owner
Cause and Effect Diagram or Fischer Diagram
Probability and Impact Matrix
Case Study Method in Data Collection and Investigation
Demographics of the Interviewed Professionals of the Construction Projects
Responses received from the Interviewees on three construction projects
