Investigating the impact of risk factors on project outcome of small and medium contractors in South Africa
- Renault, Berenger Y., Agumba, Justus N., Ansary, N.
- Authors: Renault, Berenger Y. , Agumba, Justus N. , Ansary, N.
- Date: 2017
- Subjects: Contractors , Project outcome , Risk impact
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/248146 , uj:25788 , Citation: Renault, B.Y., Agumba, J.N. & Ansary, N. 2017. Investigating the impact of risk factors on project outcome of small and medium contractors in South Africa.
- Description: Abstract: The delivery of construction project is often affected by several risks factors which can threaten the achievement of project outcome in terms of time, cost, quality and health and safety (H&S). Regrettably, there is a paucity of empirical studies investigating the impact of these risks on project outcome in the South African construction industry (SACI), especially in the small and medium enterprises (SMEs) sector. Hence, the current study sought to investigate the impact of these risk factors on project outcome of SMEs in the Gauteng province of South Africa. A structured questionnaire consisting of nineteen risk factors was used to collect data from SMEs who were conveniently sampled. The data was analysed using the Statistical Package for the Social Sciences (SPSS) version 23, computing descriptive statistics. Empirical findings revealed that time and cost were both impacted by variation by the client, design variation, incomplete approval and unsuitable construction program planning while incomplete or inaccurate cost estimates impacted highly on cost and quality objectives. Furthermore, accidents due to poor safety procedure, the absence of fire safety systems on site, equipment damage and labour injuries were deemed to have a high impact on project H&S outcome. The results of the study will boost the knowledge of industry practitioners on the risk factors affecting project outcome of SMEs.
- Full Text:
- Authors: Renault, Berenger Y. , Agumba, Justus N. , Ansary, N.
- Date: 2017
- Subjects: Contractors , Project outcome , Risk impact
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/248146 , uj:25788 , Citation: Renault, B.Y., Agumba, J.N. & Ansary, N. 2017. Investigating the impact of risk factors on project outcome of small and medium contractors in South Africa.
- Description: Abstract: The delivery of construction project is often affected by several risks factors which can threaten the achievement of project outcome in terms of time, cost, quality and health and safety (H&S). Regrettably, there is a paucity of empirical studies investigating the impact of these risks on project outcome in the South African construction industry (SACI), especially in the small and medium enterprises (SMEs) sector. Hence, the current study sought to investigate the impact of these risk factors on project outcome of SMEs in the Gauteng province of South Africa. A structured questionnaire consisting of nineteen risk factors was used to collect data from SMEs who were conveniently sampled. The data was analysed using the Statistical Package for the Social Sciences (SPSS) version 23, computing descriptive statistics. Empirical findings revealed that time and cost were both impacted by variation by the client, design variation, incomplete approval and unsuitable construction program planning while incomplete or inaccurate cost estimates impacted highly on cost and quality objectives. Furthermore, accidents due to poor safety procedure, the absence of fire safety systems on site, equipment damage and labour injuries were deemed to have a high impact on project H&S outcome. The results of the study will boost the knowledge of industry practitioners on the risk factors affecting project outcome of SMEs.
- Full Text:
Risk management in the construction industry : a new literature review
- Renault, Berenger Y., Agumba, Justus N.
- Authors: Renault, Berenger Y. , Agumba, Justus N.
- Date: 2016
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/93540 , uj:20359 , Citation: Renault, B.Y. & Agumba, J.N. 2016. Risk management in the construction industry : a new literature review.
- Description: Abstract: The construction industry is well known as a highly risk prone industry owing to the complexity of its activities and dynamic project environments generating an atmosphere of risks that must be taken into consideration in the decision process. For this reason, we have developed this treatise to elucidate the fundamentals of risk management through a concise new proposal of literature review for risk management in construction. Our explanation of this is venture is that over the years, this area has been acknowledged as a crucial process in the business institutions and the most discussed subject among experts and researchers in the construction sector. We have tried in this report to present the most recent studies considering the impossibility to present all definitions of the concept of risk. This study is mainly a literature review; it looks at the literature relating to the concept of risk, risk management in construction as well as methods used in construction industry.
- Full Text:
- Authors: Renault, Berenger Y. , Agumba, Justus N.
- Date: 2016
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/93540 , uj:20359 , Citation: Renault, B.Y. & Agumba, J.N. 2016. Risk management in the construction industry : a new literature review.
- Description: Abstract: The construction industry is well known as a highly risk prone industry owing to the complexity of its activities and dynamic project environments generating an atmosphere of risks that must be taken into consideration in the decision process. For this reason, we have developed this treatise to elucidate the fundamentals of risk management through a concise new proposal of literature review for risk management in construction. Our explanation of this is venture is that over the years, this area has been acknowledged as a crucial process in the business institutions and the most discussed subject among experts and researchers in the construction sector. We have tried in this report to present the most recent studies considering the impossibility to present all definitions of the concept of risk. This study is mainly a literature review; it looks at the literature relating to the concept of risk, risk management in construction as well as methods used in construction industry.
- Full Text:
Obstacles to risk management implementation in construction small and medium enterprises in South African
- Renault, Berenger Y., Agumba, Justus N., Ansary, N.
- Authors: Renault, Berenger Y. , Agumba, Justus N. , Ansary, N.
- Date: 2017
- Subjects: Obstacles , RMI , Construction SMEs
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/248136 , uj:25786 , Citation: Renault, B.Y., Agumba, J.N. & Ansary, N. 2017. Obstacles to risk management implementation in construction small and medium enterprises in South African.
- Description: Abstract: Risk management implementation (RMI) in construction projects is often affected by several obstacles which can endanger the achievement of project objectives. Regrettably, there is a paucity of empirical studies investigating these obstacles in the South African construction industry (SACI), especially in the small and medium enterprises (SMEs) sector. Hence, the current study sought to investigate the major obstacles hindering the IRMP at project level of SMEs. A structured questionnaire consisting of eighteen factors was used to collect data from SMEs who were conveniently sampled. The data was analysed using the Statistical Package for the Social Sciences (SPSS) version 23, computing descriptive statistics. The results indicated that: unsupportive organisation culture, lack of qualified personnel and inadequate training were the major obstacles hindering the IRMP. The results of the study could provide professionals in the CI with information on factors that hinder the IRMP in construction projects of SMEs. This will enable construction SMEs to conscientiously incorporate RM in their professional work and that would result in better project performance.
- Full Text:
- Authors: Renault, Berenger Y. , Agumba, Justus N. , Ansary, N.
- Date: 2017
- Subjects: Obstacles , RMI , Construction SMEs
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/248136 , uj:25786 , Citation: Renault, B.Y., Agumba, J.N. & Ansary, N. 2017. Obstacles to risk management implementation in construction small and medium enterprises in South African.
- Description: Abstract: Risk management implementation (RMI) in construction projects is often affected by several obstacles which can endanger the achievement of project objectives. Regrettably, there is a paucity of empirical studies investigating these obstacles in the South African construction industry (SACI), especially in the small and medium enterprises (SMEs) sector. Hence, the current study sought to investigate the major obstacles hindering the IRMP at project level of SMEs. A structured questionnaire consisting of eighteen factors was used to collect data from SMEs who were conveniently sampled. The data was analysed using the Statistical Package for the Social Sciences (SPSS) version 23, computing descriptive statistics. The results indicated that: unsupportive organisation culture, lack of qualified personnel and inadequate training were the major obstacles hindering the IRMP. The results of the study could provide professionals in the CI with information on factors that hinder the IRMP in construction projects of SMEs. This will enable construction SMEs to conscientiously incorporate RM in their professional work and that would result in better project performance.
- Full Text:
An assessment of enterprise risk management process in construction firms
- Renault, Berenger Y., Agumba, Justus N., Ansary, N.
- Authors: Renault, Berenger Y. , Agumba, Justus N. , Ansary, N.
- Date: 2016
- Subjects: Construction firms , Enterprise risk management (ERM) , Enterprise risk management process (ERMP)
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/215052 , uj:21359 , 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.
- Full Text:
- Authors: Renault, Berenger Y. , Agumba, Justus N. , Ansary, N.
- Date: 2016
- Subjects: Construction firms , Enterprise risk management (ERM) , Enterprise risk management process (ERMP)
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/215052 , uj:21359 , 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.
- Full Text:
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