Role of Quantity Surveyor in Construction Risk Management
Role of Quantity Surveyor in Construction Risk Management
Role of Quantity Surveyor in Construction Risk Management
• Risk assessment: Assess the determined risks using a graded scale to gauge their
adverse impact to the project. categorize the risks with the most significant potential
consequences.
• Risk mitigation: Develop strategies and action plans to reduce the likelihood of
these risks occurring. Additionally, establish clear protocols specifying the steps to be
taken in case any of the identified risks materialize.
• Risk monitoring: Continuously and routinely scrutinize the project's progress and
remain vigilant for emerging risks, ensuring that any new threats are promptly addressed.
AIMS AND OBJECTIVES
The aim of this study is to evaluate Quantity Surveyors’ role in risk management practice in UAE
construction projects.
In order to fulfil the study's aims, the study will be guided by the following specific goals or
objectives:
1. To examine the challenges facing the execution of the risk management process in UAE Villa
construction project delivery.
2. To identify the common practice of risk management of QS’s in the UAE Villa Construction
Projects.
3. To evaluate the extent of perception and the degree of acceptance of risk management practices of
Quantity Surveyors in UAE Villa Construction Projects.
4. To detect the impact of the recognized risk management process on enhancing competitive risk
management within the UAE Villa construction projects.
LITERATURE REVIEW
1. Construction Risk
Design: Common issues in the construction industry encompass imprecise quantity
assessments, disjointed design plans, hurried or hasty design work, assigning design
tasks to inadequately qualified professionals, and the absence of harmonization among
the BOQ, Drawings, and Project Specifications.
2 Physical: Accidents can arise due to inadequate safety protocols, the use of
substandard materials, concerns regarding material and equipment security, public safety
issues, workforce variations, and fluctuations in equipment efficiency.
5. Environmental: The harsh desert environment and potential climate challenges, such as
extreme temperatures, sandstorms, and limited freshwater resources, pose unique risks to
construction projects.
9. Financial: Delays in contract payments, poorly managed cash flow, the impact of
inflation, financial instability of the contractor, fluctuations in exchange rates, the
monopolization of construction materials due to shutdowns, and unforeseen political
developments represent significant financial challenges within the construction industry.
10. Political: Fresh government regulations or laws, rising inflation, and precarious
security conditions, including potential military invasions.
2. CONSTRUCTION RISK MANAGEMENT
Identification of Risk - The process of identifying risks serves as the cornerstone for
subsequent risk analysis and control steps, providing organizations with valuable
insights into the areas vulnerable to risk exposure.
Risk Assessment - Risk assessment is an approach that leverages existing data and
knowledge to gauge how often a risk might materialize and the extent of its impact
within the context of risk management.
Risk Mitigation - Risk mitigation is the “process of recognition, developing risk
response options and influence actions for treating the risk, targeting magnify
opportunities and reducing any threats to projects objectives”
Risk Monitoring - Once risks recognized, evaluated, and suitable responses formulated,
it's crucial to put these insights into practice. The risk management plan, an essential
component of the project plan, should be integrated and executed during this stage.
RESEARCH METHODOLOGY
Literature Review - An extensive review of existing literature is conducted to gather
information on both the informal and formal construction sectors within the specific context of
UAE, while also considering the international perspective.
Collection Data - An extensive inquiry is conducted to acquire firsthand data through the
utilization of questionnaires and semi-structured interviews. These interviews encompass
discussions with 30 - 40 pivotal industry figures, professionals engaged in villa construction sites,
and various stakeholders such as Villa builders and developers.
Analysis of Data - Collected data, quantitative and qualitative are analysed statistically.
https://docs.google.com/forms/d/1v_DufDSTQf3BczpklT2uMtpx-mAeK2h3lCjP567j6qE/edit
Are there any specific opportunities you see for enhancing the role
of quantity surveyors in risk reduction and cost management