Matching Items (2)
Description
The construction industry has accepted the uncertainty that is included with every project that is initiated. Because of the existing uncertainty, best practices with risk management are commonly recommended and educated to industry participants. However, the current status of the construction industry's ability to manage risk was found to be limited, unstructured, and inadequate. Furthermore, many barriers block organizations from implementing and improving risk management practices. A significant barrier with improving risk management methods is the lack of evidence that clearly demonstrates the need to improve risk management practices. Logical explanations of the benefits of risk management doesn't provide the necessary justification or motivation needed for many organizations to dedicate resources towards improving risk management.
Nevertheless, some organizations understand the importance of risk management practices and have begun to measure their risk maturity in order to identify weaknesses and improve risk management practices. Risk maturity measures the organization's ability and perceptions towards risk management. It is possible that many of the barriers to improving risk management would not exist if increased risk maturity was found to have a positive correlation with successful project performance.
The comprehensive hypothesis of the research is that increased risk maturity improves project performance. An exploratory study was conducted on data collected to identify measurable benefits with risk management. Quantitative and qualitative data was collected on 266 construction projects over a seven year period. Multiple statistical analyses were performed on the data and found a positive correlations between risk maturity and project performance. A positive correlations was found between customer satisfaction and contractors risk maturity. Additional findings from the recorded data included the increased ability to predict risks during construction projects within an organization. These findings provide clear reasoning for organizations to devote additional resources in which improve their risk management practices.
Nevertheless, some organizations understand the importance of risk management practices and have begun to measure their risk maturity in order to identify weaknesses and improve risk management practices. Risk maturity measures the organization's ability and perceptions towards risk management. It is possible that many of the barriers to improving risk management would not exist if increased risk maturity was found to have a positive correlation with successful project performance.
The comprehensive hypothesis of the research is that increased risk maturity improves project performance. An exploratory study was conducted on data collected to identify measurable benefits with risk management. Quantitative and qualitative data was collected on 266 construction projects over a seven year period. Multiple statistical analyses were performed on the data and found a positive correlations between risk maturity and project performance. A positive correlations was found between customer satisfaction and contractors risk maturity. Additional findings from the recorded data included the increased ability to predict risks during construction projects within an organization. These findings provide clear reasoning for organizations to devote additional resources in which improve their risk management practices.
ContributorsPerrenoud, Anthony (Author) / Sullivan, Kenneth T. (Thesis advisor) / Weizel, Avi (Committee member) / Badger, William (Committee member) / Arizona State University (Publisher)
Created2014
Description
Human resources have always been the most critical factor in the construction industry, and now, with a historic generation entering the age of retirement, the construction industry needs to place greater effort in preparing for the succession of their most important of human resource, their leaders. A significant body of research has shown that succession planning minimizes the negative effects that come with leadership transition; however, little research has focused specifically on the construction industry. The majority of construction companies are family owned or have small pools of potential successors, which make them more susceptible to the negative impacts that occur with poor planning for succession. The objective of this research focuses on developing a methodology that will assist construction companies plan and prepare for a leadership transition. Data is gathered from case studies of twelve construction companies that have recently experienced leadership succession. The data is analyzed for practices and characteristics that correlate to successful leadership transitions. Through the findings in the literature review and data analysis of the case studies, the research successfully achieves the objective of developing a potential methodology for increasing the effectiveness of succession planning in a construction company.
ContributorsPerrenoud, Anthony (Author) / Sullivan, Kenneth T. (Thesis advisor) / Badger, William (Committee member) / Schleifer, Thomas (Committee member) / Arizona State University (Publisher)
Created2012