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Risk Management in Residential Construction – An analysis of the risk management process of a Swedish construction company
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management.
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management.
2016 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesisAlternative title
Risk Management in Residential Construction – An analysis of the risk management process of a Swedish construction company (English)
Abstract [en]

Risk can be described as the absence of information when a decision is to be made at any time throughout a process. The construction industry is often considered as complex and defragmented due to working in a project based format; with a unique product and a process where there are times when decisions need to be made with insufficient information. Therefore, proper risk management processes can be vital to minimizing risks, maximizing opportunities and securing a successful project process.

This master thesis has been conducted at a large Swedish construction company that houses both a constructing unit and a residential development unit. Consequently, the focus of this thesis has been on analyzing the risk management process when a residential project is both developed and constructed by the same company.

The purpose of this master thesis is to describe and analyze risk management in a project based organization within the construction industry. The thesis aims to provide a better understanding of how risk management is used in practice but also what underlying factors that can affect risk management processes. The study will include both the perspective of the developer and the constructor; as well as their separate and joint processes facilitating risk management.

In regards to the purpose of this thesis, a general risk management model has been used to provide a framework for analysis. This model consists of four steps: risk identification, risk assessment, risk mitigation and risk monitoring.

The results from this study indicate that risk management within residential construction heavily depends on the personal knowledge and experience of project members. In turn, this creates discrepancies between how risk management is described in internal documents and how it is utilized in practice. Furthermore, it was found that risk management is considered an important part of the overall project process. However, opinions varied to what extent risk management was actually applied in projects. A reason for this could be that there is no joint understanding within the company of what processes are considered as part of risk management – thus, project members sometimes practice risk management without being aware of it.

Abstract [sv]

Risk kan definieras som avsaknaden av information när ett beslut måste tas, vid något tillfälle, under en pågående process. Byggindustrin anses ofta vara en komplex och splittrad bransch då man arbetar i projektformat och med en komplicerad slutprodukt, vilket skapar otaliga tillfällen när beslut måste fattas med otillräcklig information. Därför är en väl fungerande riskhanteringsprocess viktig för att minimera risker, maximera möjligheter och säkerställa lyckade projekt.

Detta examensarbete har genomförts på ett av de större svenska byggbolagen som har både bostadsutveckling och entreprenad inom den egna verksamheten. Därmed kommer detta examensarbete att fokusera på riskhanteringsprocessen inom bostadsbyggande då ett och samma företag agerar som både beställare och byggare.

Syftet med detta examensarbete är att beskriva och analysera riskhanteringsprocessen inom ett projektbaserat företag i byggbranschen. Uppsatsen har som mål att skapa en bättre förståelse för hur riskhantering används i praktiken, samt för de underliggande faktorer som påverkar riskhantering. Studien kommer att inkludera både beställarens och byggarens perspektiv, samt deras respektive, och gemensamma, processer i relation till riskhantering.

Med hänseende till studiens syfte har en generell modell för riskhantering använts för att ge ett ramverk till analysen. Denna modell består av fyra steg: riskidentifiering, riskvärdering, riskhantering och riskuppföljning.

Studien visar på att riskhantering inom bostadsbyggande till stor del grundar sig på projektmedlemmarnas personliga kunskap och erfarenhet. Detta leder till att det finns skillnader mellan den avsedda processen för riskhantering och hur riskhanteringsarbetet faktiskt genomförs. Vidare fann studien att riskhantering ansågs vara en viktig del av projektprocessen i sin helhet. Trots detta varierade åsikter kring hur riskhantering faktiskt genomfördes i projekt. En anledning till detta kan vara att det inte finns någon gemensam syn på vilka processer som faktiskt ingår i riskhanteringsarbetet – detta innebär i sin tur att projektmedlemmar ibland bedriver riskhantering utan att vara medvetna om det.

Place, publisher, year, edition, pages
2016. , 74 p.
Series
TRITA-FOB, ByF_PrK-MASTER-2016:38
Keyword [en]
Risk management, Construction industry, Construction projects
National Category
Engineering and Technology
Identifiers
URN: urn:nbn:se:kth:diva-190211Archive number: 444OAI: oai:DiVA.org:kth-190211DiVA: diva2:952124
Supervisors
Examiners
Available from: 2016-08-11 Created: 2016-08-11 Last updated: 2016-08-11Bibliographically approved

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