Abstract
Project Risk Management is a critical construction management skillset for identifying risks, assessing risks, strategizing, and executing risk mitigation plans. Proactive risk management has been found to reduce negative impacts to project objectives and increase customer satisfaction. To improve project risk management contractors have a method of measuring perceptions and practices of risk management, also known as risk maturity. Previous research has identified a model for measuring five major attributes of risk maturity they are (1) management’s perspective of risk management; (2) organizational risk culture; (3) risk identification; (4) risk analysis; and, (5) standardized risk management process. This study presents the risk maturity of seventy-one electrical contractors in the United States. The study finds that the contractors have high levels of trust within their companies and emphasis on managing project risks. However, the group is found to lack standard project risk management tools and communication methods. The study provides contractors a benchmark of the industry’s risk maturity and identifies opportunities in which project risk management can be improved in the industry.
Recommended Citation
Perrenoud, Anthony J.
(2018)
"Assessment of Electrical Contractors’ Perception and
Practices with Project Risk Management,"
The Professional Constructor: Vol. 43:
No.
2, Article 5.
Available at:
https://open.clemson.edu/aic-journal/vol43/iss2/5
