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Implementation of risk management in small construction companies in Czechia

Author

Listed:
  • Vladislav ?ehá?ek

    (Czech Technical University in Prague)

Abstract

No matter the field, projects are always accompanied by many risks. It is necessaryto manage them in order to prevent complications. The paper deals with the implementation of risk management in Czechia, especially focusing on small to medium size companies. The paper is divided into 3 parts: In the first part we define what risk management and risks are and why it is important to manage them. This part also includes various methods of risk analysis and their advantages/disadvantages. In the second part we define risks in the field of construction, separate the risks into several categories and name a few examples. In the third part we talk about the construction field in Czechia, the specifics, and the implementation of risk management and other management systems. The paper ends with a conclusion, where examples of what could improve the situation are provided.

Suggested Citation

  • Vladislav ?ehá?ek, 2022. "Implementation of risk management in small construction companies in Czechia," Proceedings of Economics and Finance Conferences 13615609, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iefpro:13615609
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    File URL: https://iises.net/proceedings/16th-economics-finance-conference-prague/table-of-content/detail?cid=130&iid=011&rid=15609
    File Function: First version, 2022
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    More about this item

    Keywords

    risk; risk management; risk analysis; construction; Czechia; small and medium companies;
    All these keywords.

    JEL classification:

    • L74 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Construction
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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