Several parties (stakeholders) are involved in a construction project. The conventional Risk Management Process (RMP) manages risks from a single party perspective, which does not give adequate consideration to the needs of others. The objective of multi-party risk management is to assist decision-makers in managing risk systematically and most efficiently in a multi-party environment. Multi-party Risk Management Processes (MRMP) consist of risk identification, structuring, analysis and developing responses from all party perspectives. The MRMP has been applied to a cement plant construction project in Thailand to demonstrate its effectiveness. Copyright © 2009 Inderscience Enterprises Ltd.
|Number of pages||25|
|Journal||International Journal of Services Technology and Management|
|Publication status||Published - Apr 2009|
- Cement plant construction
- Fault tree analysis
- Risk management
- Risk responses