Enterprise Risk Management in Construction Companies: Recent Trend

摘要

Traditionally, risk management is segmented and conducted inseparate business units or departments (i.e. silos) within a company.Under silo-based risk management, silos deal with their own risks, andnone single group or person in the company has a grasp of the entireexposure that the company faces. Нis is attributed to the way peoplethink about solving problems, the existing organizational structure,and the evolution of risk management practice. In addition, this is dueto the fact that each silo within a company possesses the best expertiseto address the risks within its area of responsibility