TY - JOUR
T1 - Multi-party risk management helps manage cement plant construction in Thailand
AU - Dey, Prasanta K.
AU - Charoenngam, Chotchai
AU - Ogunlana, Stephen O.
AU - Kajornkiat, Dechjaroen
PY - 2009/4
Y1 - 2009/4
N2 - Several parties (stakeholders) are involved in a construction project. The conventional Risk Management Process (RMP) manages risks from a single party perspective, which does not give adequate consideration to the needs of others. The objective of multi-party risk management is to assist decision-makers in managing risk systematically and most efficiently in a multi-party environment. Multi-party Risk Management Processes (MRMP) consist of risk identification, structuring, analysis and developing responses from all party perspectives. The MRMP has been applied to a cement plant construction project in Thailand to demonstrate its effectiveness.
AB - Several parties (stakeholders) are involved in a construction project. The conventional Risk Management Process (RMP) manages risks from a single party perspective, which does not give adequate consideration to the needs of others. The objective of multi-party risk management is to assist decision-makers in managing risk systematically and most efficiently in a multi-party environment. Multi-party Risk Management Processes (MRMP) consist of risk identification, structuring, analysis and developing responses from all party perspectives. The MRMP has been applied to a cement plant construction project in Thailand to demonstrate its effectiveness.
KW - risk management
KW - multi-party risks
KW - cement plant construction
KW - FTA
KW - fault tree analysis
KW - risk responses
KW - construction management
KW - Thailand
UR - http://www.scopus.com/inward/record.url?scp=64549100351&partnerID=8YFLogxK
UR - http://www.inderscience.com/offer.php?id=24577
U2 - 10.1504/IJSTM.2009.024577
DO - 10.1504/IJSTM.2009.024577
M3 - Article
SN - 1460-6720
VL - 11
SP - 411
EP - 435
JO - International Journal of Services Technology and Management
JF - International Journal of Services Technology and Management
IS - 4
ER -