文献信息
文献标题：Drivers for and Obstacles to Enterprise Risk Management in Construction Firms: A Literature Review（建筑企业风险管理的推动与障碍：文献综述）
文献作者：BY Renault，JN Agumba，OA Balogun
文献出处：《Procedia engineering》,2016,164:402-408． 字数统计：英文 3238 单词，18260 字符；中文 5872 汉字
外文文献
Drivers for and Obstacles to Enterprise Risk Management
in Construction Firms: A Literature Review
Abstract Regardless of the increased number of studies on risk management (RM) in various firms, limited studies have strived to reveal the components driving and obstructing Enterprise Risk Management (ERM) implementation in construction firms. These firms are constantly exposed to business risks, thus requiring an integrated, focused RM approach to managing risks on an enterprise basis defined as ERM. Hence, this study aims to investigate the drivers for and obstacles to ERM implementation in construction firms. The work methodology included a literature search relating to ERM. The review spanned a decade and lustrum between January 2000 and December 2015 and was based on a combination keyword search in three databases namely; Science Direct, Taylor and Francis Online, and Emerald. Fifteen drivers and thirty-four obstacles were identified. The study revealed that proper ERM requires the board and senior management to ensure that all potential threats to ERM
are taken into account. They should also check the efficiency of the measures adopted at the enterprise level, document on the outcomes and review the assessment regularly to keep it updated. Construction firms can use the drivers and obstacles revealed in this treatise to prepare their customized list of drivers and obstacles. This study contributes to global knowledge relating to ERM and allows management to overcome the challenges posed by the significant obstacles.
Keywords: Construction Firms, Drivers, Entreprise Risk Management (ERM), Obstacles.
1．Introduction
In recent years, changes in the business landscape have occurred in the way firms perceive risk management (RM), and the trend has moved toward a more integrated, comprehensive RM discipline, defined as ERM. The Committee of Sponsoring Organisations of the Treadway Commission (COSO) attached a definition to ERM as “a process, effected by an entity’s board of directors, management and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives”. The definition is adopted in this study as it applies to various industries, including the construction industry (CI). Also, it reflects that ERM should be implemented at all levels across an enterprise and applied in strategy setting to assure the achievement of corporate objectives.
ERM allows firms to shift the focus of the RM function from primarily defensive to increasingly offensive and strategic and offers a new approach to enhance project risk management (PRM) in the CI. Therefore, ERM has been advocated in the CI and construction firms have been seen as prime candidates for ERM adoption.
However, various factors influence the successful implementation of ERM.
Some of them drive ERM implementation while others act as obstacles. Regardless of the increased number of studies on Enterprise Risk Management (ERM) in several industries, limited studies have strived to reveal the components are driving and obstructing ERM implementation in construction firms. Faced by these obstacles, firms in many industries tend to find it hard to implement fully ERM and the percentage of firms adopting or implementing ERM is often low. In a study conducted by Beasley et al, it was found that 46 percent of the global respondents had a formal ERM process while only 11 percent of American respondents possessed a complete ERM process. Similarly, Zhao et al. studies showed that none of the Chinese construction firms had high-level ERM implementation, hence making it essential to investigate the obstacles confronted by these firms. Therefore, this study aims to identity via a desktop literature review drivers and obstacles to ERM implementation. An understanding of the drivers for ERM implementation enables the management to acquire necessary support for the ERM program and reinforce the positive influence of the drivers. The identification of the obstacles enables the management to be clear about the challenges encountered by the ERM program and take corrective actions to reduce their undesirable effect and overwhelm them. Furthermore, the drivers and obstacles revealed in this treatise can be used as a base for future research relating to ERM in construction firms. Hence, this study significantly contributes to global knowledge relating to ERM and allows the management to overcome the challenges posed by the significant obstacles.
The following discusses the drivers for ERM and obstacles affecting the adoption or implementation of ERM identified by literature. Some advocated solutions to the obstacles of ERM implementation are also suggested followed by methodological approach adopted and discussions of the findings and implications of the study. The final section concludes the study.
2．Literature review
建筑企业风险管理中英文对照外文翻译文献
