Insights into the application of risk tools and techniques by construction project managers

This study analyses the practical application of risk management tools by project managers in their construction projects. Using a grounded theory approach we applied purposive sampling to select 25 Australian construction project managers to identify tools utilised to analyse risk and tool preferences. Themes were developed though analysis of the in-depth interviews using QSR-NVivo11. The results indicate that the most common methods are within the look-up and supporting methods categories, followed by the evaluation and scenario methods. There is poor utilisation of statistical methods, due to the uniqueness of projects, the lack of data and time pressure on projects. The results were consistent across project managers; irrespective of project size, type of organisation or experience. However, more experienced project managers rely less on evaluation tools. The research provides evidence that many of the tools promoted by the risk standards/associations do not seem to reflect current project manager practice. The implication is that more effort should be given to appreciating the risk tools that are appropriate for projects and the importance of transferring and spreading experience among PMs.