A New Risk Management Model

DOI

10.2991/jrarc.2012.2.4.3How to use a DOI?

Keywords

risk, deductive logic, risk model, dominant information, construction management, IT management

Abstract

The identification of the source of project risk has been a troubling issue in construction management. A new risk management model has been developed. Analysis of the risk in the IT industry, construction industry, and also industry structure and supply chain delivery has resulted in the identification of the major source of risk: the major source of risk is the buyer. The buyer's attempt to transfer this risk to the contractor causes confusion and an increase of risk. The owner's lack of expertise and accountability, their use of management, direction and control to minimize risk, their inability to listen to the expert contractors who have no risk and the owner's decision making and expectations has resulted in increased project risk. This study uses deductive logic to design the new risk model. The new risk model is used by the expert contractor to minimize the risk they do not control. The new model identifies risk, mitigates risk by use of transparency and dominant information. The new model has been tested and the results have been documented. The preliminary test results are encouraging.

Copyright

© 2017, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - JOUR
AU  - Dean Kashiwagi
AU  - Jacob Kashiwagi
PY  - 2012
DA  - 2012/12/01
TI  - A New Risk Management Model
JO  - Journal of Risk Analysis and Crisis Response
SP  - 233
EP  - 251
VL  - 2
IS  - 4
SN  - 2210-8505
UR  - https://doi.org/10.2991/jrarc.2012.2.4.3
DO  - 10.2991/jrarc.2012.2.4.3
ID  - Kashiwagi2012
ER  -