Practice of Risk Management In Butajira Town Asphalt Road Construction Project
| dc.contributor.advisor | Mohammed, Abdurezak (PhD) | |
| dc.contributor.author | Negash, Bereket | |
| dc.date.accessioned | 2018-11-01T11:10:47Z | |
| dc.date.accessioned | 2023-11-04T14:25:08Z | |
| dc.date.available | 2018-11-01T11:10:47Z | |
| dc.date.available | 2023-11-04T14:25:08Z | |
| dc.date.issued | 2017-06 | |
| dc.description.abstract | Risk is prevalent in all project activities and influences the achievement or non-achievement of project goals. This necessitates the need for a structured process for effective risk management. Risk management in a project context is a formal process that enables the planning, identification, analysis, response and management of risks throughout the life cycle of the project. This paper reviews the risk management practice of Butajira Asphalt Road Construction project. The study was a descriptive type and questionnaire and interview were used to collect information from 24 individuals working on the project under study. The findings obtained about the practice of risk planning revealed that the project does not have a systematic risk planning process even though it is prepared with the involvement of relevant stakeholders and consideration of an expert judgment or meetings are done while planning for risks. However, team members do not receive training or have enough knowledge about how to handle risks. Regarding the practice of risk identification, the management with the involvement of all team members, used physical inspection, and the experience of the organization only to identify risk. The project uses a measurement system to analyze risk and subjective probability assessment to assess the probability of risk occurrence. Moreover there is consideration of the characteristics of the risk before analysis and the project updates documents after assessment of risk that might occur. While responding to risk the project considers factors such as budget, schedule and resources but the response strategy used is not a well-developed strategy. There is little practice of risk monitoring and control and this little practice is not done in accordance with the goal and objective of the project. Overall the project does not treat risk management as a continuous process and it does not have a policy or guideline that recommends how to manage unexpected Uncertainties. The practice of assigning a responsible person to handle risk is also weak. Therefore, the project should improve it’s risk management practice by filling the gap between the real practice in the project and the theory. It is expected that the output of this study will have a good and beneficial contribution to save time and money for both public and private road construction sectors and regulatory bodies due to expected awareness and improvements in the risk management practice | en_US |
| dc.identifier.uri | http://etd.aau.edu.et/handle/123456789/13609 | |
| dc.language.iso | en_US | en_US |
| dc.publisher | Addis Ababa University | en_US |
| dc.subject | Risk management, | en_US |
| dc.subject | risk management processes | en_US |
| dc.subject | subjective probability | en_US |
| dc.title | Practice of Risk Management In Butajira Town Asphalt Road Construction Project | en_US |
| dc.type | Thesis | en_US |