Towards a risk management prototype for small and medium enterprises in the construction sector

The construction sector is one of the largest industries in terms of economic significance and employment, with a huge importance for human safety. The complex process of bidding, contracting, design, operation, and delivery on schedule and on budget often exceeds the capabilities of conventional management. Small and medium enterprises (SMEs) in the construction sector are exposed to an array of different risks, and are operating nowadays in a dynamic and competitive business environment. So, the risk attitude of an SME is not merely a matter of perspective and business strategy, but rather a subject of a careful and detailed quantification. The lack of familiarity, experience, and resources in managing risks can lead the SMEs in the construction industry to lowperformance and productivity. Decision support tools and software systems build for risk management need to implement different usage modes, to cover the widest possible range of user expertise, data availability, and desired sophistication. In the present paper, developments on this front over the last two decades are reviewed and evaluated with regard to their suitability and usability. In particular, we examine whether basic decisions on the part of the user can be used in a risk management system, or extensive data and specialised training in uncertainty quantification are actually needed. Advances and remaining challenges are examined, and desired features are considered, in terms of feasibility and efficiency. Finally, the implications of a reliable and user-friendly risk management prototype for the performance of SMEs are discussed.