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Risk Management Software System for SMEs in the Construction Industry

Project information

Grant agreement ID: 324387

Status

Closed project

  • Start date

    1 April 2013

  • End date

    31 March 2017

Funded under:

FP7-PEOPLE

  • Overall budget:

    € 921 317,23

  • EU contribution

    € 921 317,23

Coordinated by:

UNIVERSITY OF WOLVERHAMPTON

United Kingdom

Objective

The construction sector is one of Europe's biggest industries accounting for 10% of Gross Domestic Product with approximately 92% of manufacturers being SMEs. This sector directly employs 12 million EU citizens and 26 million workers are dependent on the sector. However, due to the global economic crisis, the last few years have been full of uncertainty for many companies in the construction and engineering industry. These companies are facing fierce competition and winning new contracts as well as delivering on schedule and on budget is fundamental to their survival. Core to these problems are, enterprises and more especially SMEs are operating in a dynamic business environment with constant exposure to risk leading to underperformance, low productivity and sometimes businesses could stop trading overnight. This project therefore, aims at developing a cost effective, user friendly risk management system, which evaluates, monitors, and reviews both imminent and impending risks with a view to completely eliminate or minimise their impact. RiMaCon consortium wishes to challenge and overcome the current non trivial, interdisciplinary and intersectoral barriers currently preventing the development and implementation of efficient risk management systems in SMEs. It will therefore design and develop a robust, reliable, and sustainable risk management prototype system suitable and affordable for the construction SMEs, possibly in a software format or a portal. This risk management prototype will be dynamic, flexible to adapt to different construction contexts. RiMaCon has already carried out preliminary survey / investigation and confirmed this need especially for SMEs who are under resourced, vulnerable and also lack the technology to develop a robust risk management system. RiMaCon (two Universities and two SMEs) is balanced in terms of expertise and knowledge to tackle this problemn and will work with a large database of construction SMEs who would provide the data.

Coordinator

UNIVERSITY OF WOLVERHAMPTON

Address

Wulfruna Street
Wv1 1ly Wolverhampton

United Kingdom

Activity type

Higher or Secondary Education Establishments

EU Contribution

€ 409 912,52

Administrative Contact

Chike F. Oduoza (Prof.)

Participants (5)

ZAPADOCESKA UNIVERZITA V PLZNI

Czechia

EU Contribution

€ 89 137,67

DANSK BRAND- OG SIKRINGSTEKNISK INSTITUT FORENING

Denmark

THYME SOFTWARE LIMITED

United Kingdom

EU Contribution

€ 1 100

VETTORAZZO COSTRUZIONI SRL

Italy

EU Contribution

€ 380 790,47

COMPUTORS LIMITED

United Kingdom

EU Contribution

€ 40 376,57

Project information

Grant agreement ID: 324387

Status

Closed project

  • Start date

    1 April 2013

  • End date

    31 March 2017

Funded under:

FP7-PEOPLE

  • Overall budget:

    € 921 317,23

  • EU contribution

    € 921 317,23

Coordinated by:

UNIVERSITY OF WOLVERHAMPTON

United Kingdom