GUIDELINES TO RISK MANAGEMENT MATURITY IN CONSTRUCTION PROJECTS

Abstract

Purpose – This article aims to provide the guidelines to assess the risk management maturity (RMM) of construction projects. Design/methodology/approach – This article presents a literature review of the main risk management models, which aims to support a survey research to define, according to experts, the market preference and knowledge of RMM models. Findings – We pointed out in this article a set of guidelines to direct the maturity analysis of RM in the Construction Industry and proposed a model matrix to help companies to evaluate the maturity of the RM of a whole project or each activity separately. Research limitations/Implications – Limitations of this article include the search options originally defined by the researches in literature review and concepts and measures chosen to be evaluated by experts in the survey. Other approaches could explore the implementation of a RMM model considering quantitative measures in others areas. Practical Implications – The article provide to construction companies a way to measure their risk management capacity against four standard levels of maturity, allowing them to make benchmarking and to improve and increase their ability to manage risk. Originality/value – We highlighted to professionals and academics what factors were essential seeking to improve the risk management continuously.

Keywords

• Risk Management Maturity
• Risk Management
• Construction Management.