This volume describes risk management practices in the construction industry in selected countries, with an emphasis on developing countries and how these countries can learn from the practices in more developed ones. Risk management in the construction industry can be difficult to understand due to the various complex procedures that are involved and to the unique concerns and contexts associated with each project. The industry has been a key contributor to the economic and social development of many countries of the world and is increasingly incorporating sustainability into its practices. However it is plagued by various risks that can affect the quality, cost, time and overall sustainability of projects. Therefore, there is need to effectively manage risk in order to ensure timely completion of construction projects in good quality and within budget, which in turn results in more efficient and often more sustainable practices.
The book is divided into four parts. The first section features a primer on risk management practices as they pertain to the construction industry. The second part dives in to describe risk management in selected developing countries, including Malaysia, Qatar, Saudi-Arabia, South Africa, Sri-Lanka and Tanzania, as well as the city of Hong Kong. The third section describes the construction risk management practices of a selection of more developed countries with known risk management institutes and established practices of risk management. These countries include Australia, Canada, Sweden and United States of America. The fourth part offers a general overview of the definition, concepts and process of risk management based on reviewed literature. It also discusses the benefits of effective risk management to clients and to project teams, especially from the perspective of ensuring sustainability. This last section also summarizes the risk management practices in both developing and developed countries for the purpose of improving the practices in the former by learning from the latter.
Ayodeji Emmanuel Oke is an author and lecturer with several years of teaching and research involvement in higher institutions of learning across the world. He founded the Research Group on Sustainable Infrastructure Management plus (RG-SIM+) and he is currently the leader of the team. He has over 350 publications including eight (8) books in the area of Sustainable Infrastructure Management (SIM) with focus on Sustainable Development, Digital Construction, Quantity Surveying, Value Management and other multidisciplinary research areas. He is a member of the Department of Quantity Surveying, Federal University of Technology Akure, Nigeria. He is also a Research Associate at University of Johannesburg, South Africa and an Academic Fellow at Universiti Sains Malaysia.
Pelumi Elijah Adetoro is a construction project manager and currently a postgraduate student of Infrastructure Development and Management at the Malawi University of Business and Applied Sciences, Blantyre, Malawi under the Africa Sustainable Infrastructure Mobility Scheme. He is a Building Information Management (BIM) enthusiast. His areas of specialization are academic consultancy, BIM education and general construction. He is a construction cost engineer with practical experience in costing and managing construction projects.
Seyi Segun Stephen is a Construction Manager and a graduate of Federal University of Technology, Akure, Nigeria. He is a Social Psychology and Behavioural Sciences Enthusiast. He also has a flair for literature and his areas of specialization are academic consultancy, psychological education and teaching. He is a Construction Manager and has authored books including Sustainable Construction in the era of the Fourth Industrial Revolution, Value Management Implementation in Construction, and Smart Cities: A Panacea for Sustainable Development. He is currently a postgraduate students at the University of Johannesburg, South Africa
Clinton Ohis Aigbavboa is a Professor in the Department of Construction Management and Quantity Surveying and Director of the DSI/ NRF Research Chair in Sustainable Construction Management and Leadership in the Built Environment and the cidb Centre of Excellence & Sustainable Human Settlement and Construction Research Centre, University of Johannesburg, South Africa. He completed his PhD in Engineering Management and has published several research papers in the area of housing, construction and engineering management and research methodology for construction students. He has extensive knowledge in practice, research, training and teaching.
Lukman Oyekunle Oyewobi has a background in Quantity Surveying and publishes in the general area of construction projects management and strategic management in construction. He is an Associate Professor in the Department of Quantity Surveying, Federal University of Technology Minna, Nigeria. He is a cooperate member of the Nigerian Institute of Quantity Surveyors and a Registered Quantity Surveyor with the Quantity Surveyors Registration Board of Nigeria. Dr Oyewobi has extensive tertiary teaching and research experience in the general area of Quantity Surveying.
Douglas Omoregie Aghimien is a Senior Lecturer in Built Environment at the Faculty of Art Design and Humanities, De Montfort University, Leicester, United Kingdom. He is a vibrant researcher with a keen interest in construction digitalisation, smart and sustainable construction, and value management. He has a PhD in engineering management from the University of Johannesburg and has published over 80 peer-reviewed articles, book and book chapters.
