A Conceptual Risk Management Framework in the Construction of Mega Housing Projects in Egypt
Document Type
Article
Publication Date
Winter 11-1-2020
Abstract
Recent years have seen an increase in the number of Mega housing Projects around the world. This increase was to cater for increased population and urbanization. Construction of mega housing projects in Egypt faced a lot of challenges during the construction phase. There is no targeted framework that allows contractors to improve their risk management practice and project success during the construction of mega housing projects in Egypt. The aim of the paper is to design a conceptual Risk Management Framework for Mega Housing Projects in Egypt to improve risk practices and project success during the construction phase. The objective of the paper is to design a conceptual risk management framework to guide contractors to an efficient risk management practice during construction of mega housing projects in Egypt. The study is to review risk standards, to recognize developed risk frameworks, and to design a conceptual risk management framework (CRMF). The framework guide contractors in Egypt towards successful risk management practice. The CRMF included steps of risk identification, assessment, response, and risk control. Risk identification adopted risk principles from the International Standardization (ISO31000, 2018). Principles of risk management included knowledge, risk skills, challenges, and opportunities. Interviews and NVivo analysis are used as a technique of risk identification. Qualitative risk analysis included risks obtained from the identification process as input. Technique of questionnaire can guide contractors to prioritize risks based on their significance. Contractors can use Monte Carlo simulation as a quantitative technique to obtain time and cost contingency before and after adding responses. The technique of Monte Carlo analysis is used in the risk control process to highlight new contingencies after adding responsive strategies. The literature of risk management and standards were used as a backdrop to design a CRMF. The framework recognized contractors’ recent knowledge and skills and improves risk management practices during construction of mega housing projects. Contractors can use the designed conceptual risk management framework in reporting and communicating risk activities during construction of mega housing projects in Egypt. (16) (PDF) A Conceptual Risk Management Framework in the Construction of Mega Housing Projects in Egypt. Available from: https://www.researchgate.net/publication/345433627_A_Conceptual_Risk_Management_Framework_in_the_Construction_of_Mega_Housing_Projects_in_Egypt [accessed Aug 06 2023].
Recommended Citation
Mohamed Nabawy, George Ofori, Maged Morcos, Charles Egbu, (2020), A Conceptual Risk Management Framework in the Construction of Mega Housing Projects in Egypt, International Journal on: The Academic Research Community Publication, Archive, IREK Press,