The competition and challenges facing construction enterprises during the recent recession have brought risk management to the forefront of SMEs' agenda. Enterprises risk management has been extensively addressed in standards and guidelines; however, none of those has explained the fundamental principles of applying the process to the situation that SMEs could adapt themselves to. Evidence indicated that the required amount of resources to support risk management implementation and its continued application are unrealistic for SMEs and beyond their capability and affordability. There is a small number of empirical research in the area of risk management for small and medium-sized organisations. Most studies addressed risk management practices in large enterprises with less attention to SMEs. In order to facilitate risk management implementation ID SMEs in the UK construction industry, in this study an explanatory mixed method was adopted to discuss risk management issues from the organisational perspective. A total of 453 usable postal questionnaires were received and 30 semi-structured interviews were conducted: to identify the key difficulties associated with implementation and practice of risk management; to evaluate the degree of SMEs' awareness of the risk management tools and techniques; and to assess the nature of the training provisions that will be of benefit to SMEs with regard to their risk management process. Results achieved from the study identified the need for a framework for scaling risk management. The Scaling Risk Management (SRM) framework was developed to support SMEs to recognise the importance of risk management, key difficulties in risk management implementation, and how to adjust risk management processes and allocate resources within the organisational capability. This framework was designed based on the Kolb's learning cycle. The SRM framework was validated by senior training advisors from the National Construction College of Scotland (CITB) and SMEs within a workshop. The study recommends that risk management needs to be connected to organisational business plan through the scaling risk management process. Results achieved from the study identified the need for a framework for scaling risk management. The Scaling Risk Management (SRM) framework was developed to support SMEs to recognise the importance of risk management, key difficulties in risk management implementation, and how to adjust risk management processes and allocate resources within the organisational capability. This framework was designed based on the Kolb's learning cycle. The SRM framework was validated by senior training advisors from the National Construction College of Scotland (CITB) and SMEs within a workshop. The study recommends that risk management needs to be connected to organisational business plan through the scaling risk management process.
| Identifer | oai:union.ndltd.org:bl.uk/oai:ethos.bl.uk:687397 |
| Date | January 2015 |
| Creators | Rostami, Ali |
| Publisher | Glasgow Caledonian University |
| Source Sets | Ethos UK |
| Detected Language | English |
| Type | Electronic Thesis or Dissertation |
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