A Conceptual Risk Management Framework in the Construction of Mega Housing Projects in Egypt

Conference paper

Ibrahim, M., Ofori, G., Morcos, M. and Egbu, C. (2020). A Conceptual Risk Management Framework in the Construction of Mega Housing Projects in Egypt. Urban Regeneration. University of East London - UK
AuthorsIbrahim, M., Ofori, G., Morcos, M. and Egbu, C.
TypeConference paper
Abstract

Recent years have seen an increase in the number of Mega housing Projects around the world. This increase was to
cater for increased population and urbanization. Construction of mega housing projects in Egypt faced a lot of
challenges during the construction phase. There is no targeted framework that allows contractors to improve their risk
management practice and project success during the construction of mega housing projects in Egypt. The aim of the
paper is to design a conceptual Risk Management Framework for Mega Housing Projects in Egypt to improve risk
practices and project success during the construction phase. The objective of the paper is to design a conceptual risk
management framework to guide contractors to an efficient risk management practice during construction of mega
housing projects in Egypt. The study is to review risk standards, to recognize developed risk frameworks, and to
design a conceptual risk management framework (CRMF). The framework guide contractors’ in Egypt towards
successful risk management practice. The CRMF included steps of risk identification, assessment, response, and risk
control. Risk identification adopted risk principles from the International Standardization (ISO31000, 2018).
Principles of risk management included knowledge, risk skills, challenges, and opportunities. Interviews and NVivo
analysis are used as a technique of risk identification. Qualitative risk analysis included risks obtained from the
identification process as input. Technique of questionnaire can guide contractors to prioritize risks based on their
significance. Contractors can use Monte Carlo simulation as a quantitative technique to obtain time and cost
contingency before and after adding responses. The technique of Monte Carlo analysis is used in the risk control
process to highlight new contingencies after adding responsive strategies. The literature of risk management and
standards were used as a backdrop to design a CRMF. The framework recognized contractors’ recent knowledge and
skills and improves risk management practices during construction of mega housing projects. Contractors can use the
designed conceptual risk management framework in reporting and communicating risk activities during construction
of mega housing projects in Egypt.

KeywordsRisk Management; Risk Frameworks; Risk Standards; Project Management
Year2020
Web address (URL)https://www.researchgate.net/publication/345433627_A_Conceptual_Risk_Management_Framework_in_the_Construction_of_Mega_Housing_Projects_in_Egypt
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Print07 Apr 2020
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Deposited24 Apr 2021
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