Multi-party risk management helps manage cement plant construction in Thailand Online publication date: Fri, 10-Apr-2009
by Prasanta Kumar Dey, Chotchai Charoenngam, Stephen O. Ogunlana, Dechjaroen Kajornkiat
International Journal of Services Technology and Management (IJSTM), Vol. 11, No. 4, 2009
Abstract: 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.
Online publication date: Fri, 10-Apr-2009
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