IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-3-031-35557-8_7.html
   My bibliography  Save this book chapter

Risk Management Practices in Sri Lanka

In: Risk Management Practices in Construction

Author

Listed:
  • Ayodeji E. Oke

    (Federal University of Technology Akure)

  • Pelumi E. Adetoro

    (Malawi University of Business and Applied Sciences)

  • Seyi S. Stephen

    (University of Johannesburg)

  • Clinton O. Aigbavboa

    (University of Johannesburg)

  • Lukman O. Oyewobi

    (Federal University of Technology Minna)

  • Douglas O. Aghimien

    (De Mont Fort University)

Abstract

Risk management is considered an emerging concept in the Sri Lankan construction industry. It is gradually gaining prominence because of rising construction activity, increased complexity and sophistication in construction projects, and strong market competition. This chapter addressed risk concepts and identified the risks associated with construction projects. It also highlighted the risk management processes and the tools that can be employed to execute each phase. It was concluded that there was a certain constraint to the application of risk management in Sri Lanka, as most clients were not proficient about risk management benefits and felt that contractors and consultants have the obligation to bear the risk effects by their own cost. Also, clients that were willing to actualize risk management practices in their projects were not prepared to spend extra cost in implementing risk management process.

Suggested Citation

  • Ayodeji E. Oke & Pelumi E. Adetoro & Seyi S. Stephen & Clinton O. Aigbavboa & Lukman O. Oyewobi & Douglas O. Aghimien, 2023. "Risk Management Practices in Sri Lanka," Springer Books, in: Risk Management Practices in Construction, chapter 0, pages 67-93, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-35557-8_7
    DOI: 10.1007/978-3-031-35557-8_7
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    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:spr:sprchp:978-3-031-35557-8_7. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.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.