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A Model of the Risk Response Repeat Process in the Construction Project  

Kim Seon-Gyoo (강원대학교 건축학부)
Publication Information
Korean Journal of Construction Engineering and Management / v.3, no.1, 2002 , pp. 107-114 More about this Journal
Abstract
Recently, a few major construction companies in Korea have a growing interests to the risk management system, and they are trying to apply it to their construction projects. However, the existing methodologies to be applied to the foreign public projects are not proper to the construction environments due to its adaptabilities, that has one time process and heavily depends on personal judgement. The purpose of this paper is to propose a risk response process in consideration of the residual risks, which would be more adaptable and practical in the construction environment, overcoming the current obstacles to be mentioned above. This process has systematic repeat process until the residual risks go down to the risk thresholds based on the efficiency of specific response strategy.
Keywords
Risk Response Process; Risk Value; Residual Risk; Response Strategy;
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