Community Research and Development Information Service - CORDIS

FP7

RIMACON Report Summary

Project ID: 324387
Funded under: FP7-PEOPLE
Country: United Kingdom

Periodic Report Summary 1 - RIMACON (Risk Management Software System for SMEs in the Construction Industry)

Small and medium-sized enterprises (SMEs) especially in the construction sector are vulnerable, facing daily exposure to a wide variety of business risks, whilst they operate without a risk management system in place. There is abundant evidence both from informal market research and industry surveys to confirm that SMEs are continuously handicapped and therefore underperforming due to their inability to manage operational risk challenges facing them on a daily basis. RiMaCon consortium has been constituted to address this problem by developing a robust risk management software system that will proactively identify, analyse and manage a large variety of risks faced by SMEs in the construction sector.

The goal of the project therefore is to implement a collaborative effort to promote the sharing of knowledge and competencies in a long-term strategic research partnership around the development, testing and validation of a cost-effective and user-friendly risk management system for SMEs in the construction sector. This system will improve productivity based on risk identification, analysis and proactive management. The objectives of the RiMaCon project have been defined to respond to this problem in a flexible way, with a top-down approach as follows;

• Development of conceptual framework model targeted at the construction sector based on the balanced score card (WP1-WP2):
• Quantitative analysis of impacts and risk monitoring achieved through modelling and simulation (WP3)
• Development, testing and validation of new robust risk management tool (WP4-WP5)

Over the last two years, the first two objectives are being achieved through organised, systematic secondment of researchers between industry and academia during which primary and secondary data were collected and knowledge transferred. Seventy percent of the scheduled secondments have been achieved so far, and a post doctoral researcher was recruited and has been based at a partner site for one year. In terms of dissemination, five research papers on various aspects of the study have been published and presented at International conferences, a workshop run for stakeholders in the construction sector and a risk management symposium proposed for Flexible Automation and Intelligent Manufacturing (2015) international conference. Two newsletters have been produced so far for outreach activities and a functional website (www.rimacon.eu) is in place to market the project and also to serve as a medium for communication and interaction with consortium members.

Contact

CHIKE F. ODUOZA, (PROFESSOR IN PROCESS AND MANUFACTURING ENGINEERING)
Tel.: +44 1902323944
Fax: +44 1902322754
E-mail

Subjects

Life Sciences
Record Number: 192293 / Last updated on: 2016-12-15
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