Project risk management adaptation of infrastructures in the Greek context

Abstract

Last years in Greece there has been an increase in the number of "Small and Medium Enterprises, SMEs"active in the construction of infrastructures and specifically in the telecommunications sector. The research methodology was done with an appropriate questionnaire which is addressed mainly to construction companies. Large companies, for both operational and financial reasons, prefer to outsource projects and services related to their network infrastructure to third companies rather than using their own resources. SMEs undertake to implement many of these services. They are more flexible in terms of operation but also adapt faster to the requirements of the projects they undertake. However, unlike large companies, they lack in procedures and have limited administrative resources. This makes them more vulnerable to the risks presented in the various phases of the projects they undertake. Risk Management, as a process, includes the identification of risks, the prediction of the probability of occurrence and its consequences and finally proposes solutions to treat them. The research investigates the current situation regarding risk management by Greek SMEs. The results showed up that although the use of relevant risk management procedures is limited, the participants believe to the usefulness of the process according to international standards for the projects that SMEs implement.