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- Title
RISK MANAGEMENT STANDARDISATION IN POLISH CONSTRUCTION ENTERPRISES UNDER UNCERTAINTY.
- Authors
MYRCZEK, Józef; TWOREK, Piotr
- Abstract
Purpose: The paper aims to outline the issues related to the standardisation of risk management in construction enterprises operating in the conditions of uncertainty. In particular, it discusses possible applications of international risk management standards in the operations of major Polish contractors as participants of investment and construction processes. This is particularly important now, when contractors have to operate in the conditions of volatile and uncertain surroundings. Design/methodology/approach: The paper uses the method of synthesis, as well as deduction and the basics of induction. The authors draw on their own expertise and experience gained from long-term research into risks faced by organisations from the construction industry in their operations. The publication uses a case study analysis; for that an analysis of source materials available on the Internet was carried out. All the deliberations included in the paper are based on a review of scientific literature. Findings: The discussions here focus on the applicability and the utilitarian dimension of the knowledge contained in the paper. They concern major organisations which render construction and assembly services in Poland. In the context of the research one of the biggest listed construction companies in Poland, included in the stock-exchange index of WIG-Construction, is analysed. For the needs of the paper the organisation is anonymised. Some conclusions apply to all the remaining 35 companies from the WIG-Construction index. Research limitations/implications: The paper presents only the selected and most relevant issues related to the standardisation of risk management in the operations of construction enterprises. The conclusions drawn from the findings apply to the construction risk, which is seen in the science as a separate research category. They also refer to the problem of uncertainty. The empirical illustration is provided by one construction enterprise only; in the scientific research a case study analysis has both its advantages and its drawbacks. Practical implications: The paper contains a proposal that standard risk management solutions should be implemented by construction contractors, which have to deal with uncertainty and risks in their operations. The implicational dimension of the paper is determined by the discussed issues. Originality/value: The deliberations contained in the paper may be seem as casting light on the problems of risk management standardisation in the operations of construction companies. The paper constitutes an attempt to transfer the frameworks – offered by the subdiscipline that is referred to in the scientific literature as Enterprise Risk Management (ERM) – to construction organisations i.e. contractors. The deliberations contained in the paper may encourage broader empirical studies in this field to be conducted in the future.
- Subjects
POLAND; SCIENTIFIC literature; RISK management in business; CONSTRUCTION contractors; BUSINESS enterprises; CONSTRUCTION workers; CONSTRUCTION industry
- Publication
Scientific Papers of Silesian University of Technology. Organization & Management / Zeszyty Naukowe Politechniki Slaskiej. Seria Organizacji i Zarzadzanie, 2023, Issue 184, p327
- ISSN
1641-3466
- Publication type
Article
- DOI
10.29119/1641-3466.2023.184.16