Risk Management as an Approach to Control Construction Projects Costs
El-Ahwal, M., El- Attar, S., Abdel-Hafez, W. (2016). Risk Management as an Approach to Control Construction Projects Costs. EKB Journal Management System, 20(1), 44-62. doi: 10.21608/pserj.2016.33636
Mostafa El-Ahwal; Sherif Sabry El- Attar; Walaa Ahmed Abdel-Hafez. "Risk Management as an Approach to Control Construction Projects Costs". EKB Journal Management System, 20, 1, 2016, 44-62. doi: 10.21608/pserj.2016.33636
El-Ahwal, M., El- Attar, S., Abdel-Hafez, W. (2016). 'Risk Management as an Approach to Control Construction Projects Costs', EKB Journal Management System, 20(1), pp. 44-62. doi: 10.21608/pserj.2016.33636
El-Ahwal, M., El- Attar, S., Abdel-Hafez, W. Risk Management as an Approach to Control Construction Projects Costs. EKB Journal Management System, 2016; 20(1): 44-62. doi: 10.21608/pserj.2016.33636

Risk Management as an Approach to Control Construction Projects Costs

Port-Said Engineering Research Journal
Article 5, Volume 20, Issue 1, March 2016, Page 44-62  XML PDF (1.06 MB)
Document Type: Original Article
DOI: 10.21608/pserj.2016.33636
View on SCiNiTO View on SCiNiTO
Authors
Mostafa El-Ahwal1; Sherif Sabry El- Attar2; Walaa Ahmed Abdel-Hafez email orcid 3
1Department of architecture and urban planning, faculty of engineering, Port Said University
2Professor at Department of Architectural Engineering and Urban Design, Faculty of Engineering, Port Said, Egypt,
3M.Sc. Candidate at Architectural Engineering and Urban Design Department, Faculty of Engineering, Port Said, Egypt
Abstract
Cost overrun risks are very common in construction sector. These risks are the possibility of a cost deviation occurrence consequently, affecting the project costs and the involved parties. Cost overrun risks also affect investment in construction sector negatively and focusing on risk reduction measures. Cost control isn't confined to cost management only but also, risk management is considered an effective control tool of project costs. Cost overrun risks are identified and then risk assessment and analysis are done. Then risk management and risk mitigation are carried out. The purpose of this study is to present an approach that can assess cost overrun risks after identifying them. Then, resorting to response strategies to create a response plan for high-priority risks, the researcher conducted a survey research by applying a questionnaire among the specialists in the construction industry and chose the touristic projects in Port Said as a case study. The risk identification techniques more frequently applied in construction are checklist and Brain storming, in addition the risk assessment and analysis technique (the qualitative technique).
Keywords
Cost Overrun; Risk; Matrix; qualitative analysis; Response Plan
Statistics
Article View: 957
PDF Download: 1,521