A study on risk management key performance indicators for developing comprehensive malaysian standard risk management performance level in construction industry

• Main Author: Ahmad Faisal, Zulkifli
• Format: Undergraduates Project Papers
• Language: English
• Published: 2014
• Subjects: HD Industries. Land use. Labor; HD61 Risk Management
• Online Access: http://umpir.ump.edu.my/id/eprint/9130/1/CD8469%20%40%2049.pdf; http://umpir.ump.edu.my/id/eprint/9130/

In managing project, manager will face risk in various situations, if risk is left unattended, a devastating impact may get on the project. In severe cases, risk not only retarded the project growth but also destroyed the project. In order to comprehend the impact of risk, project manager are using the risk management, not just that risk management also have become one of the big part in project management around the world. The importance of risk management has cause the risk management to have its own measure to establish the effectiveness performance of risk management. This research are conducted to study about risk management performance indicator and it also will give a good picture on how the key performance indicator for risk management are constructed base on the specific objective of the related department or organization. This proposed risk management indicator is suitable to be used in construction field because the research been conducted by using G7 contractor as respondent. The indicators are formulated base on the objective of implementing risk management that been extracted from previous research. After have obtained a complete list of objective it been distributed to the respondent in form of questionnaire. The feedback from the respondent will determine which the objectives are preferable to be used as indicator. The result is set of key performance indicator that can be used to evaluate risk management performance in construction industry. The indicators are formulated base on the chosen objective of implementing risk management after getting a complete list of the selected objective from the distributed questionnaire. Therefore, having this indicator can make the evaluation process of risk management performance easier and the benchmark in standardize order.