Risk Management Software System for SMEs in the Construction Industry

The consortium behind RiMaCon identified a major gap between the available risk management methodologies and their practical and efficient application by SMEs in the construction sector. It found that there was no robust risk management system suitable for easy adoption or application by SMEs and that current risk management systems are used only for ad-hoc assessment rather than for continuous assessment, monitoring and review.

The RiMaCon consortium worked collaboratively, using expertise from academic and commercial partners in the UK, Italy and the Czech Republic to develop the prototype for a cost-effective, user friendly risk management system with a strong focus on SMEs in the construction sector in the form of affordable software, capable of continuous assessment, which evaluates, monitors, and reviews both imminent and impending risk with a view to eliminating or minimising their impact. Such robust, consistent and ongoing project analysis is essential to improve project management practice as well as overall project performance that will improve survival rates of construction SMEs.

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