Risk management in the construction environment: the effects of decision making and communication
| dc.contributor.advisor | Ramabodu, M. S. | |
| dc.contributor.author | Cerff, Wesley David | |
| dc.date.accessioned | 2016-11-22T12:46:33Z | |
| dc.date.available | 2016-11-22T12:46:33Z | |
| dc.date.issued | 2015 | |
| dc.description.abstract | English: A number of factors contribute to cost overruns, time complications, specification details, and weak communication. Some are within the control of the project team, but most of them are not. These complications lead to additional costs and loss of productivity on construction sites due to time loss. Optimism bias, inability to produce on certain levels, lack of experience and knowledge, inability to understand the seriousness of executing risk management duties as well as strategic misrepresentation are identified as the main causes. In the ideal world every project will make its estimated profit, the client will be satisfied with the product and the professional teams on the client’s side and the contractor’s side will have made all the correct decisions as originally planned at the pre-contract meetings. Every single decision made by a member of the project team (including contractors and consultants), from the principal agent to the labourer on site, has an effect on the results of a project. The concepts of decision making, teamwork and communication play a significant role in the construction industry and are dominant in this study. The construction industry is in a more challenging environment than before. Client expectations have increased and clients want quality products and services that use new advanced resources and equipment at lower cost and that need to be done in less time – which eventually leads to risk. Risk management is a relatively new addition to the wider concept of commercial and trade authority. Risk management may be seen as an ignored part in the planning and completion of building projects, but its significance and effect in the construction industry cannot be stressed enough. This study aims to create awareness of risk by all parties involved and to show that better planning will limit or mitigate the source of risk on a project. Furthermore, effective risk management will only be possible with efficient communication. With communication and awareness, there will be better quality and control of the project. Lastly, the study aims to educate future generations regarding the importance of risk. | en_ZA |
| dc.description.abstract | Afrikaans: ’n Groot aantal faktore dra by tot addisionele koste met betrekking tot die begroting, tydsprobleme, spesifikasie-besonderhede en swak kommunikasie. Sommige kan deur die projekspan beheer word, maar die meeste nie. Hierdie komplikasies lei tot addisionele kostes en verlies aan produktiwiteit op die konstruksieterrein as gevolg van verlore tyd. Optimistiese vooroordeel, die onvermoë om op sekere vlakke te produseer, 'n gebrek aan ervaring en kennis, onvermoë om die erns van die uitvoering van risikobestuurspligte, sowel as strategiese wanvoorstelling te verstaan word as die belangrikste oorsake geïdentifiseer. In die perfekte en ideale wêreld sal elke projek die geraamde wins lewer, sal die kliënt tevrede wees met die produk en die professionele spanne sal, aan beide die kliënt en die kontrakteur se kant, al die regte besluite geneem het, soos oorspronklik beplan is by die vergaderings wat gehou is voordat die kontrak gesluit is. Elke besluit wat deur ’n lid van die projekspan (insluitende kontrakteurs en konsultante) gemaak is, van die hoofagent tot die werkers op die perseel het ’n uitwerking op die resultate van ’n projek. Die konsepte van besluitneming, spanwerk en kommunikasie speel ’n belangrike rol in die konstruksiebedryf en is die fokus van hierdie studie. Die konstruksiebedryf staan voor 'n groter uitdaging as voorheen. Die kliënt het hoër verwagtinge en wil kwaliteit produkte en dienste hê wat nuwer en meer gevorderde voorraad en masjinerie teen ’n laer koste gebruik en wat vinniger voltooi moet word – wat tot risiko lei. Risikobestuur is 'n relatiewe nuwe bydrae tot die wyer konsep van kommersiële en handelsgesag. Risikobestuur kan beskou word as die deel wat in die beplanning en voltooiing van bouprojekte geïgnoreer word, maar die betekenis en uitwerking in die konstruksiebedryf kan nie genoeg beklemtoon word nie. Die studie het ten doel om bewustheid van risiko by alle betrokke partye te skep en om aan te toon dat beter beplanning die oorsaak van risiko op ’n projek kan beperk of verwyder. Verder sal doeltreffende risikobestuur slegs moontlik wees indien daar effektiewe kommunikasie is, en met kommunikasie en bewustheid sal daar beter kwaliteit en beheer oor die projek wees. Laastens het die studie ten doel om die toekomstige geslagte op te voed oor die belangrikheid van risiko. | af |
| dc.identifier.uri | http://hdl.handle.net/11660/4749 | |
| dc.language.iso | en | en_ZA |
| dc.publisher | University of the Free State | en_ZA |
| dc.rights.holder | University of the Free State | en_ZA |
| dc.subject | Dissertation (M.Sc. (Quantity Surveying and Construction Management))--University of the Free State, 2015 | en_ZA |
| dc.subject | Risk | en_ZA |
| dc.subject | Communication | en_ZA |
| dc.subject | Experience | en_ZA |
| dc.subject | Decision making | en_ZA |
| dc.subject | Knowledge | en_ZA |
| dc.title | Risk management in the construction environment: the effects of decision making and communication | en_ZA |
| dc.type | Dissertation | en_ZA |