Multi-party risk management helps manage cement plant construction in Thailand

Prasanta Kumar Dey, Chotchai Charoenngam, Stephen O. Ogunlana, Dechjaroen Kajornkiat

    Research output: Contribution to journalArticle

    2 Citations (Scopus)

    Abstract

    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.

    Original languageEnglish
    Pages (from-to)411-435
    Number of pages25
    JournalInternational Journal of Services Technology and Management
    Volume11
    Issue number4
    DOIs
    Publication statusPublished - Apr 2009

    Keywords

    • Cement plant construction
    • Fault tree analysis
    • FTA
    • Multi-party
    • Risk management
    • Risk responses

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