- Title
- An assessment of enterprise risk management process in construction firms
- Creator
- Renault, Berenger Y., Agumba, Justus N., Ansary, N.
- Subject
- Construction firms, Enterprise risk management (ERM), Enterprise risk management process (ERMP)
- Date
- 2016
- Type
- Conference proceedings
- Identifier
- http://hdl.handle.net/10210/215052
- Identifier
- uj:21359
- Identifier
- Citation: Renault, B.Y., Agumba, J.N & Ansary, N. 2016. An assessment of enterprise risk management process in construction firms.
- Description
- Abstract: Though the construction industry is project-based, risk management should address risks at both projects, and enterprise levels as an overemphasis on project risk management would lead to some limitations. As a comprehensive and strategy-focused risk management discipline, enterprise risk management (ERM), which agrees with the modern portfolio theory, manages the whole risk portfolio of a firm and has been recommended in the construction industry. This study provides an understanding of ERM and investigates an ERM process for construction firms. The work methodology included a comprehensive literature search relating to ERM. The literature review was conducted through accredited academic and Professional journals, books, the internet, theses, and dissertations. Literature revealed environment and strategy, risk identification, risk assessment and prioritising, risk mitigation and control, information and communication and monitoring, reporting and continuous improvement as the essentials of ERM. The investigated process could be used as a guide for ERM process in construction firms. As few studies have attempted to investigate ERM in construction firms, it is believed that this study expands the existing literature relating to ERM.
- Language
- English
- Rights
- ©2016, authors
- Full Text
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