IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v15y2023i12p9577-d1171084.html

Risk Management on Concrete Structures as a Tool for the Control of Construction Efficiency

Author

Listed:
  • Matej Špak

    (Faculty of Civil Engineering, Technical University of Košice, Vysokoškolská 4, 04200 Košice, Slovakia)

  • Tomáš Mandičák

    (Faculty of Civil Engineering, Technical University of Košice, Vysokoškolská 4, 04200 Košice, Slovakia)

  • Marcela Spišáková

    (Faculty of Civil Engineering, Technical University of Košice, Vysokoškolská 4, 04200 Košice, Slovakia)

  • Dominik Verčimák

    (Faculty of Civil Engineering, Technical University of Košice, Vysokoškolská 4, 04200 Košice, Slovakia)

Abstract

Risk management in the construction industry has a significant role in the impact of a construction project. Risk management is needed to make processes more efficient in terms of the implementation of construction projects. This research is oriented to the management of risks regarding the concrete structures of residential buildings in Central Europe. This research provides insights into risk management procedures, based on a risk’s frequency, the probability of occurrence, and its impact on the effectiveness of construction projects for concrete structures. The aim of the research is to analyze the impact of risk management on the efficiency of construction projects for residential buildings and to propose a method of quantifying this impact, in terms of the technical and economic aspects, based on the calculated coefficients. This will assist in risk management by prioritizing those risks that will have the most significant impact on both the technical aspects and the efficiency of the project. The research results herein provide coefficients for determining the technical and economic impacts that can be implemented for risk management regarding the concrete structures used in the construction projects of residential buildings. The potential risks of concrete structures have been identified and divided into three groups. The scope and content of this study were chosen on the basis of the processes at individual stages. Construction management experts quantified the risk and probability levels according to the implemented projects. Based on the acquisition of these data, the rates of occurrence and impact, i.e., the extent of damaged parts (intensity), were determined. Subsequently, the significance factor was determined. To determine the efficiency, the net present value method was used, reflecting the investment’s time value. The values were adjusted for time and inflation, affecting the overall efficiency coefficient of construction projects. These data were obtained from Eurostat.

Suggested Citation

  • Matej Špak & Tomáš Mandičák & Marcela Spišáková & Dominik Verčimák, 2023. "Risk Management on Concrete Structures as a Tool for the Control of Construction Efficiency," Sustainability, MDPI, vol. 15(12), pages 1-15, June.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:12:p:9577-:d:1171084
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/15/12/9577/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/15/12/9577/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Agnieszka Leśniak & Filip Janowiec, 2019. "Risk Assessment of Additional Works in Railway Construction Investments Using the Bayes Network," Sustainability, MDPI, vol. 11(19), pages 1-15, September.
    2. Björn Johansson & František Sudzina & Andreja Pucihar, 2014. "Alignment of business and information strategies and its impact on business performance," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 15(5), pages 886-898, November.
    3. Adel Al-Kharashi & Martin Skitmore, 2009. "Causes of delays in Saudi Arabian public sector construction projects," Construction Management and Economics, Taylor & Francis Journals, vol. 27(1), pages 3-23.
    4. Emilia Conte, 2018. "The Era of Sustainability: Promises, Pitfalls and Prospects for Sustainable Buildings and the Built Environment," Sustainability, MDPI, vol. 10(6), pages 1-16, June.
    5. Nasanjargal Erdenekhuu & Balázs Kocsi & Domicián Máté, 2022. "A Risk-Based Analysis Approach to Sustainable Construction by Environmental Impacts," Energies, MDPI, vol. 15(18), pages 1-21, September.
    6. Mahboobe Peymankar & Mohammad Ranjbar, 2021. "Maximizing the Net Present Value in Project Scheduling Under Periodic Inflation," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 38(04), pages 1-28, August.
    7. Chien-Liang Lin & Bey-Kun Chen, 2021. "Research for Risk Management of Construction Projects in Taiwan," Sustainability, MDPI, vol. 13(4), pages 1-15, February.
    8. Shou Qing Wang & Mohammed Fadhil Dulaimi & Muhammad Yousuf Aguria, 2004. "Risk management framework for construction projects in developing countries," Construction Management and Economics, Taylor & Francis Journals, vol. 22(3), pages 237-252.
    9. Bon-Gang Hwang & Ming Shan & Helena Phua & Seokho Chi, 2017. "An Exploratory Analysis of Risks in Green Residential Building Construction Projects: The Case of Singapore," Sustainability, MDPI, vol. 9(7), pages 1-21, June.
    10. Kristina Galjanić & Ivan Marović & Nikša Jajac, 2022. "Decision Support Systems for Managing Construction Projects: A Scientific Evolution Analysis," Sustainability, MDPI, vol. 14(9), pages 1-23, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Huihua Chen & Hujun Li & Yige Wang & Baoquan Cheng, 2020. "A Comprehensive Assessment Approach for Water-Soil Environmental Risk during Railway Construction in Ecological Fragile Region Based on AHP and MEA," Sustainability, MDPI, vol. 12(19), pages 1-17, September.
    2. Nasanjargal Erdenekhuu & Balázs Kocsi & Domicián Máté, 2022. "A Risk-Based Analysis Approach to Sustainable Construction by Environmental Impacts," Energies, MDPI, vol. 15(18), pages 1-21, September.
    3. Basem Al Khatib & Yap Soon Poh & Ahmed El-Shafie, 2018. "Delay Factors in Reconstruction Projects: A Case Study of Mataf Expansion Project," Sustainability, MDPI, vol. 10(12), pages 1-18, December.
    4. Ahsan Nawaz & Xing Su & Qaiser Mohi Ud Din & Muhammad Irslan Khalid & Muhammad Bilal & Syyed Adnan Raheel Shah, 2020. "Identification of the H&S (Health and Safety Factors) Involved in Infrastructure Projects in Developing Countries-A Sequential Mixed Method Approach of OLMT-Project," IJERPH, MDPI, vol. 17(2), pages 1-18, January.
    5. Ming Shan & Yu-Shan Li & Bon-Gang Hwang & Jia-En Chua, 2021. "Productivity Metrics and Its Implementations in Construction Projects: A Case Study of Singapore," Sustainability, MDPI, vol. 13(21), pages 1-19, November.
    6. Agnieszka Bekisz & Magdalena Kowacka & Michał Kruszyński & Dominika Dudziak-Gajowiak & Grzegorz Debita, 2022. "Risk Management Using Network Thinking Methodology on the Example of Rail Transport," Energies, MDPI, vol. 15(14), pages 1-19, July.
    7. Lili Pan & Lin Wang & Qianqian Feng, 2022. "A Bibliometric Analysis of Risk Management in Foreign Direct Investment: Insights and Implications," Sustainability, MDPI, vol. 14(12), pages 1-18, June.
    8. Keonhyeong Lee & Liyuan Wang, 2023. "Chinese High-Tech Export Performance: Effects of Intellectual Capital Mediated by Dynamic and Risk Management Capabilities," SAGE Open, , vol. 13(1), pages 21582440231, February.
    9. Gholamreza Dehdasht & Rosli Mohamad Zin & M. Salim Ferwati & Mu’azu Mohammed Abdullahi & Ali Keyvanfar & Ronald McCaffer, 2017. "DEMATEL-ANP Risk Assessment in Oil and Gas Construction Projects," Sustainability, MDPI, vol. 9(8), pages 1-24, August.
    10. Jin Woo Won & Wooyong Jung & Seung Heon Han & Sungmin Yun & Bonsang Koo, 2019. "What Enables a High-Risk Project to Yield High Return from a Construction Contractor’s Perspective?," Sustainability, MDPI, vol. 11(21), pages 1-17, October.
    11. Kawther Mousa & Zenglian Zhang & Mohamed Abdelkhalek Omar Ahmed & Diana R. Anbar & Waleed Hemdan, 2025. "Risk Management and Strategies to Alleviate Risks of Public–Private Partnership (PPP) in Conflict-torn Palestine," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(2), pages 7112-7139, June.
    12. Kristina Galjanić & Ivan Marović & Tomaš Hanak, 2023. "Performance Measurement Framework for Prediction and Management of Construction Investments," Sustainability, MDPI, vol. 15(18), pages 1-20, September.
    13. Hui-Ping Tserng & I-Cheng Cho & Chun-Hung Chen & Yu-Fan Liu, 2021. "Developing a Risk Management Process for Infrastructure Projects Using IDEF0," Sustainability, MDPI, vol. 13(12), pages 1-22, June.
    14. Irem Dikmen & M. Talat Birgonul, 2006. "A review of international construction research: Ranko Bon's contribution," Construction Management and Economics, Taylor & Francis Journals, vol. 24(7), pages 725-733.
    15. Pablo Ortega Carrasco & Fabio Iannone & Vera Ferrón Vílchez & Francesco Testa, 2025. "Green public procurement as an effective way for sustainable development: A systematic literature review and bibliometric analysis," Sustainable Development, John Wiley & Sons, Ltd., vol. 33(2), pages 2364-2391, April.
    16. Goutom K. Pall & Adrian J. Bridge & Jason Gray & Martin Skitmore, 2019. "Causes of Delay in Power Transmission Projects: An Empirical Study," Energies, MDPI, vol. 13(1), pages 1-29, December.
    17. Aftab Hameed Memon & Abdul Qadir Memon & Shabir Hussain Khahro & Yasir Javed, 2023. "Investigation of Project Delays: Towards a Sustainable Construction Industry," Sustainability, MDPI, vol. 15(2), pages 1-17, January.
    18. Min-Yuan Cheng & Shu-Hua Yeh & Woei-Chyi Chang, 2020. "Multi-Criteria Decision Making of Contractor Selection in Mass Rapid Transit Station Development Using Bayesian Fuzzy Prospect Model," Sustainability, MDPI, vol. 12(11), pages 1-32, June.
    19. Yi Gao & Gaosheng Yang & Qiuhao Xie, 2020. "Spatial-Temporal Evolution and Driving Factors of Green Building Development in China," Sustainability, MDPI, vol. 12(7), pages 1-21, April.
    20. Yin Chen & Mei Ye Kho & Othman Mohamed, 2024. "Developing a Conceptual Model for Promoting Risk Management for Public–Private Partnerships Projects," Sustainability, MDPI, vol. 16(18), pages 1-22, September.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:15:y:2023:i:12:p:9577-:d:1171084. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.