Application of risk management techniques in small and medium-sized construction companies
The article discusses the practical application of the theoretical foundations of risk management. Subject classification of risks for small and medium-sized construction organizations is given. The paper presents the main tools and methods for identifying risks, such as: the brainstorming method, the Delphi method, the cause-and-effect method (Ishikawa diagram), the hierarchical structure of risks, the method of mental maps. In order to form an objective assessment of the likelihood and strength of the risk impact, experts were involved. The experts' assessments were reduced to the arithmetic mean and on the basis of them the rank (weight) of each risk was estimated and a ranked risk register was built. Based on the estimates obtained, a probability-impact matrix was compiled. As part of the risk analysis, measures were identified that are designed to prevent the implementation of the identified risk events of the project to improve the project management system in the organization and the implementation of the risk management system, and the cost of their implementation was also determined.