The influence of procurement practices on project risk in the Australian construction industry
Date
2018
Authors
Earl Spurr, J.
Wood, A.
Martin, C.
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Rameezdeen, A.
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Book chapter
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Source details - Title: Perspectives in project management: a selection of masters degree research projects, 2018 / Rameezdeen, A. (ed./s), Ch.6, pp.107-122
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Abstract
Poorly managed procurement risks can lead to large project delays,cost overruns and quality defects, yet many procurement decisions do not consider risk as highly as other criteria such as cost. This contradicts directly with what some researchers believe – that procurement risk should be the prominent criterion that determines the selection of a procurement method. The aim of this research is to investigate the influence that procurement practises have on project risk to better understand their effectiveness. The study consisted of a case study of a single organisation with multiple, large construction projects and a supporting literature review. The case study method primarily involved interviews with procurement specialists within the case-study organisation. The research found that the selection of an appropriate vendor is more effective in mitigating project risk than attempting to transfer risk onto partners or using monitoring and control practises. Therefore, most efforts to mitigate procurement risk should be directed to those practises that assist in choosing the best project partner.
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Copyright 2018 by Anthony Wood, Raufdeen Rameezdeen and contributors