Transcription of Construction€Risk€Identification - irbnet.de
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Construction€Risk€Identification - irbnet.de
304 construction Risk IdentificationMaytorena, E., Winch, G. M, and Kiely, for Research in the Management of Projects,Manchester Business School, The University of Manchester, M15 6PB, UKAbstractThe management of risks in projects is a growing area of concern in the construction industry. Both theidentification and analysis phases of the risk management process are considered the most important,for they can have a big impact on the accuracy of the risk assessment exercise. Currently it is assumedthat construction project managers rely largely on experience to identify projects risks . These decisions,influenced by individual perception and attitudes, are made primarily under conditions of individuals respond to risky or uncertain situations therefore requires an understanding of howindividuals intuitively assess the situation they perceive, before expressing a response.
307 information€envisaged€by€expected€utility€theory€and€bounded€rationality€envisioned€by€prospect theory.€The€research€methodology€used€in€this€research€is€based€on€active€information€search€(AIS).
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