Risk Management

When a doctor makes a wrong, then one person is affected or may be died but when an engineer makes a wrong then huge peoples may be affected or died.So the construction (Civil) management is a very important subject in all over the world especially in developing countries as Bangladesh. Construction management is a combination of Engineering, Technology and Management. Actually, construction is the area of execution. In Bangladesh, the field of Civil construction-most of the cases we find result as “more time than expected which causes more expenses andon the other handbuildings, bridges & roads failure & collapse which causes of life safety & huge losses of money”. This paper presents an in-depth analysis of construction management practices in Bangladeshsurveyed more than 50 of govt. & private construction projects of Buildings, Bridges & Culverts and Pavements (Roads) both Flexible & Rigid), Power Plant etc.,highlighting the critical challenges and opportunities within the industry from an engineering perspective. The study explores key issues such as the prevalence of unskilled project managers, inadequate project planning, the involvement of technically unqualified personnel, and the impact of unskilled labor on project outcomes. It also examines the weaknesses of regulatory bodies, the lack of awareness about Health, Environment, and Safety (HES) standards, and the negative effects of excessive interference by project owners in operational activities. Through this analysis, the paper aims to identify the root causes of inefficiencies in construction management in Bangladesh and propose actionable recommendations for improving project execution, ensuring compliance with safety and environmental regulations, and enhancing overall industry standards. The findings underscore the need for systemic reforms, including the development of skilled professionals, strengthening of regulatory frameworks, and fostering a culture of safety and quality in construction projects across the country.

As modern business and financial institutions have come to rely more and more on large scale computers for management support, the magnitude of the risks and their potential consequences has increased correspondingly. In addition, large systems involving multiprocessing, resource sharing, and distributed processing have given rise to a new generation of risks due to the increased vulnerabilities of such large scale systems and the potential for fraudulent or malicious misuse of their resources. Somehow, these risks must be managed since either deliberate or accidental impairment of these large scale systems can have serious consequences for the business. That is, threats must be identified, and the likelihood of their occurrences and the elements of the system vulnerable to each of these threats must be established. Any program for risk management must begin with a risk analysis to compare the vulnerabilities in order to pinpoint and rank the system's weaknesses and to provide a...

ABSTRACTClaims, being the heartbeat of the workability of insurance, are the most critical contact influencer between the insuring public and the insurer. It serves as a critical path to truth that shapes the policyholders’ ultimate perceptions of their insurers. This study evaluated the relationship between gross premium income and claims settlement with specific focus on fire insurance business in the Nigerian insurance industry from 2010 to 2021. Data on gross premiums income and gross claims paid over the period were extracted from Nigerian Insurers Association (NIA) annual reports and digest. Stationarity test carried out on the data revealed that data is stationary at the 1%, 5% and 10% levels of significance. Using the ordinary least squares regression, the calculated probability value of 0.0000 is lower than the 0.05 significant value, which shows that there is a significant significance of the data. The computed linear co-efficient of determination (R2= 0.928731) shows that...

This paper provides an evaluation of safety culture in the construction industry. Safety culture is part of an organisation's culture. The concepts of safety culture and organisational culture are discussed, including the main characteristics of organisational culture. The cultural changes that health and safety law has sought to bring about in the construction industry are provided; these include top management commitment, employee involvement, training, co-ordination, communication, information sharing, forward planning, risk assessment and control. Research on safety culture in the aviation, mining, nuclear and offshore sectors is assessed with a view to drawing lessons for the construction industry. It is concluded that the safety climate or culture of an organisation can be assessed and a toolkit to assist in this process has been developed and published by the UK Health and Safety Executive. However, studies are required to develop this toolkit further to take account of t...

The duties of Quantity surveyors, who are the construction economists is to support cost-effective of construction spanning through the pre-construction stage to post-construction stage of projects. Despite being recognised as a professional discipline, quantity surveyors are not immune to the threats and risks in their operating environment. Consequence of which when poorly managed may be detrimental to quantity surveying practice and overall performance of construction project. Therefore, this paper assessed the risk management techniques adopted by the quantity surveyors in construction projects with a view to enhancing a better performance in project delivery. It identified the risk factors affecting quantity surveying practices also assessed the existing risk management practices that are being adopted by quantity surveyors in Lagos State. Fifteen (15) risk factors were identified and assessed by the consultant and contracting quantity surveyors through the administration of qu...

In both the mountain town of Chamonix, France and the desert city of Abu Dhabi, United Arab Emirates, multilingual transnational residents and visitors, from a wide range of backgrounds, vastly outnumber local citizens. Abu Dhabi has a foreign population of 88.5 per cent who speak over 100 languages (World Bank, 2015), and Chamonix’s local population of approximately 10,000 seasonally swells to 100,000 when non-residents flood the town for work and winter sports. The official languages of Chamonix and Abu Dhabi are French and Arabic respectively, and English is used as a lingua franca in both contexts. While in ordinary times, accessing signage is important for information and a sense of belonging in a space, in times of crisis, lives are endangered if messages are not clearly understood. While inclusive tendencies toward transnationalism and cultural diversity have been on the rise over the last few decades, the Covid-19 pandemic has ‘transformed citizenship into a more strictly defined membership in which insiders ought to be distinguished from outsiders’ (Ramsari, 2021, p. 101). Such a phenomenon extends to linguistic inclusion/ exclusion where those not proficient in the dominant language/ languages are often disadvantaged as ‘linguistic outsiders’. The lack of multilingual crisis communication during the Covid-19 pandemic has been named ‘disaster linguicism’ (Uekusa, 2019) or a ‘linguademic’ (Phyak, 2020).

As transnational residents, researchers, and linguists, we were stationed in Abu Dhabi and Chamonix during spring 2021 where we became participant observers (Spradley, 1980). In an earlier study investigating linguistic diversity and inclusion on Abu Dhabi signage at the onset of the pandemic in spring 2020, we found very few languages used on signage other than English and Arabic (Hopkyns & van den Hoven, 2021). A year later in what has been labelled the ‘late pandemic’ (Martel, 2021), travel restrictions may have eased in many places, but public signage continues to play an important role in directing health and safety procedures and shaping the identity of spaces during the ongoing pandemic. In our current comparative study, we assess crisis communication on public signage in two multilingual global contexts characterized by transient and diverse transnational populations. We take an ethnographic approach to linguistic landscaping (LL) where we look at the visible representation of multiple languages in a globalized world (Pütz & Mundt, 2019). We report on main trends seen from a joint corpus by looking not only at language / languages used but also position, size, space, images, readership and sociolinguistic implications of messages (Shohamy, 2019). Our walking ethnographies of Covid-19 signage in Chamonix and Abu Dhabi public spaces revealed little textual visibility of languages other than the dominant (and more powerful) language French, Arabic, and English despite the multilingual composition of the populations. The chapter will critically discuss issues of linguistic inclusion and exclusion on Covid-19 signage in relation to access, belonging, and symbolic power in public spaces. Practical suggestions for ways in which to reduce the vulnerability of multilingualism during the pandemic and beyond will be provided.

References

Hopkyns, S., & van den Hoven, M. (2021). Linguistic diversity and inclusion in Abu Dhabi’s linguistic landscape during the COVID-19 period. Multilingua.

Martel, J. (2021, June 21). A lexicon for the late pandemic (p. 25). The New Yorker.

Phyak, P. (2020). Citizen multilingualism: Communication during the COVID-19 pandemic in Nepal. https://aushimalaya.net/2020/12/10/citizen-multilingualism-communication- during-the-covid-19-pandemic-in-nepal/?fbclid=IwAR3YSPdYjt4Ilr_h3Ozc6OdCPitqIzrILM6BXz24O_4aRI_8l3cnLnl3Q3Y  (accessed 10 December 2020).

Pütz, M., & Mundt, N. 2019. Multilingualism, multimodality and methodology: Linguistic landscape research in the context of assemblages, ideologies and (in)visibility: An introduction. In M. Pütz  & N. Mundt (eds.), Expanding the linguistic landscape (pp. 1–22). Bristol: Multilingual Matters.

Ramsari, A. (2021). The rise of the Covid-19 pandemic and the decline of global citizenship. In J. M. Ryan (Ed.) Covid-19: Global pandemic, societal responses, ideological solutions (pp. 94-105). London: Routledge.

Shohamy, E. (2019). Linguistic landscape after a decade: An overview of themes, debates and future directions. In Pütz Martin & Neele Mundt (eds.), Expanding the linguistic landscape. Bristol: Multilingual Matters.

Spradley, J. P. (1980). Participant observation. Belmont, CA: Cengage Learning.

The World Bank (2015).  Retrieved from: https://data.worldbank.org/indicator/SM.POP.TOTL.ZS?year_high_desc=true&locations=AE

Uekusa, S. (2019). Disaster linguicism: Linguistics minorities in disasters. Language in Society 48(3), 353–375.

Risk management has reduced vulnerability to floods and droughts globally1,2, yet their impacts are still increasing3. An improved understanding of the causes of changing impacts is therefore needed, but has been hampered by a lack of empirical data4,5. On the basis of a global dataset of 45 pairs of events that occurred within the same area, we show that risk management generally reduces the impacts of floods and droughts but faces difficulties in reducing the impacts of unprecedented events of a magnitude not previously experienced. If the second event was much more hazardous than the first, its impact was almost always higher. This is because management was not designed to deal with such extreme events: for example, they exceeded the design levels of levees and reservoirs. In two success stories, the impact of the second, more hazardous, event was lower, as a result of improved risk management governance and high investment in integrated management. The observed difficulty of man...

Processes (management and engineering business processes) used in project lifecycles are very salient instruments for products (goods and services) to do work right the first time and achieve continuous improvement in a proactive and risk-based manner, and these processes highly influence the quality of the products developed in projects. In this perspective, audits conducted and managed with respect to processes specifically and contracts and relevant plans additionally are almost the most vital ones of quality assurance practices aimed at both providing confidence to relevant stakeholders by means of collecting evidences for compliance and identifying opportunities on behalf of continuous improvement. As a result, project-level audits are essential. In this study, explanatory and guiding information about audits part of the quality assurance process established and maintained in a continuously improved manner at TUBITAK BILGEM ILTAREN and pertinent lessons learned are shared. Prec...

AbstrakPascacovid 19 merupakan suasana baru yang meminta perlakuan baru juga. Pada semua bidangkehidupan dituntut untuk kreatif agar bisa bertahan dan melanjutkan hidup. Dunia usaha baik kecilmaupun besar diuji kreativitasnya. Demikian juga di sector usaha mikro kecil menengah yang bergerakdi bidang apapun, misalnya di bidang keuangan dengan bentuk usaha koperasi. Seriring denganadanya wacana bahwa koperasi juga akan masuk ke ranah otoritas jasa keuangan maka koperasi harusbanyak belajar dan berbenah diri terutama dari segi sumber daya manusia (SDM). Sekalipun saat initelah berkembang Artificial Intelligence (AI) namun tetaplah SDM yang mengendalikan semua itu.Untuk itu dilaksanakan pelatihan pengembangan SDM pada koperasi simpan pinjam mitra UniversitasKatolik Darma Cendika (UKDC) guna upgrading dan mengatasi kecanggungan kerja secara luringagar SDM semakin siap menyiapkan diri kembali secara baik untuk menjalankan tugas pokok danfungsi (tupoksi) pascapandemi di tempat meniti karie...

Contractors are facing an increasing degree of complexity in their construction projects. Due to inadequately prepared project plans, they have been suffering significant losses during the execution of construction projects. One of the key disadvantages of such plans is that during the planning process, a construction project is mostly defined as a linear rather than a dynamic and complex process with a high degree of uncertainty. Therefore, a contractor who is in the planning phase of a construction project should consider the impact of the project characteristics on its implementation according to the elements of project complexity. In this research, we therefore first made an overview of the existing research related to the elements of project complexity. Based on the frequency of their occurrence in existing surveys, this paper singled out eight groups of complexity characteristics that contractors should be aware of during construction projects. After that, based on the frequen...

All significant construction projects involve the project owner and the contractor, as well as their project managers. Following upon recent research into the multiple principal-agent problem, which was applied to the minimization of communication risk in construction projects, the focus here is on communication issues between the four project parties. Recent research has shown that the relationship between the project owner and the contractor is paramount for risk minimization before the contract between them is signed. However, the relationship between project managers is dominant for risk minimization after the contract is signed. To further explore risk minimization at this stage of the project, the Delphi method was employed. A panel of highly-experienced project managers working for both project owners and contractors was asked several rounds of questions in an attempt to arrive to a consensus concerning the most important relationships between project parties in terms of risk...

The object of research is the risk appetite of an IT project. It is important for the implementation of an IT project to determine the critical values of indicators important for the activity, which predetermines the need to define and manage risk appetite. Risk appetite management in the implementation of an IT project directly affects its successful implementation and requires theoretical and methodological foundations for its consideration in the project management system. By establishing risk appetite, the project manager determines how much risk s/he is willing to take in order to achieve the key goals of the project. The definitions of "risk appetite", "risk tolerance", "risk appetite" in the implementation of IT projects have been clarified. It is determined that risk appetite should be considered as an integral set of IT project risk, which affects the achievement of the set goals: completion of the project in time, volume and budget that have b...

Construction industries are exposed to wide array of risks, such as financial, design, and contractual ones, which might have a direct impact on their performance toward achieving the desired objectives. Risk Management is a proactive decision-making process used to minimize and manage the risks in the most efficient and appropriate manner. However, most construction firms in Malaysia do not apply formal risk management in their projects. Thus, this study aims to identify the actual process of risk management that is being applied in the construction projects and to determine the effects of risk management implementation on the performance of the construction projects in terms of time and cost. The data were obtained from four case studies in Kuala Lumpur, Malaysia, through semistructured interviews. It was found that the implementation of risk management process in Malaysian construction industry is still at a low level, mainly due to the fact that most of the construction employee...