The paper “ Identifying Key Risks in Construction Projects - Life Cycle and Stakeholder Perspectives” is an intriguing variant of the case study on management. The research was carried out in Australia and it involved the stakeholders in the construction industry. It was conducted in 2005 and it involved 60 companies that are major stakeholders in the Australian construction industry. (Zou, Zhang & Wang, 2005). The main aim of the research is to identify the risks that are associated with the construction industry from the perspective of the stakeholders. According to the research, most of the previous research has not dealt conclusively with risks from the perspectives of the stakeholders.
A literature review has been provided which deals with the past research that has been carried out in the industry. The research also intends to identify the importance of an effective risk management strategy in the construction industry in Australia. The practices that are involved in managing the risks in the Australian construction industry also form the objective of the research. However, the research does not provide any specific research question which could have played an essential role in ensuring that the research is well understood.
The research is properly scoped as it provides the reasons for carrying out the research. Background information regarding the risks in the construction industry has also been identified which plays an important role in providing more information with regards to the research. The scope plays an important role in enabling the audience to understand the problem being addressed by the research. It is also important to note that the research has clearly specified its aims and objectives.
The research does not provide a clear hypothesis and it has referred to results of the previous research regarding risk management in general. The keywords in the research have been identified and have been outlined. A total of 5 keywords that are relevant to the research have been provided for the purpose of ensuring that the access to the research is simplified. Methodology analysisThe methodology of the research has been clearly outlined. According to the methodology, literature review, as well as questionnaires, were the main tools that were used during the process of data collection.
A precise and exact description of the methodology has been provided. The methodology indicates that 60 respondents were provided with the questionnaires. This is important information when it comes to the description of the study. All the respondents that were involved in the research were stakeholders in the construction industry. This is an indication that the methodology is useful in terms of answering the research question. The research question mainly targeted the stakeholders in the construction industry. This is also an indication that the research methodology is precise and exact. A good research methodology should always target the research question.
This is considering that different research questions require different methodologies in order to address the research question conclusively (Nilsson & Halina, 2012). The research methodology can, therefore, be considered rigorous due to the precise and exact nature of the methodology in terms of addressing the needs of the research question. The description for the rationale of describing the research methodology has also been provided. Indicating the reasons for using a particular methodology is important in terms of creating an understanding among the audience.
The reason for using the methodology is for the purposes of ensuring that detailed information regarding the risks is provided from the perspectives of the stakeholders. It is also important to note that the methodology has provided information with regard to how the data will be analyzed in the research. The methodology is also accurate in terms of its description participants that were involved in the research. This is also an indication that the research methodology has a high level of accuracy.