Home⇛International Journal of Multidisciplinary: Applied Business and Education Research⇛vol. 6 no. 8 (2025)

ISO 31000 Risk Management in Practice: Adoption Challenges and Benefits in Qatar’s Leading Construction Firm

Gerelyn S. Dela Cruz | Alex P Ocampo

Discipline: business and management

 



References:

  1. Alaa  Hussein,  H.,  &  Kamel  Jawad,  M.  (2024). Evaluation   of   risk   management   in   the ministry  interior  of  iraq  according  to  the standards  (ISO  31000:  2018).  Journal  of Economics  and  Administrative  Sciences, 30(142), 69–85. https://doi.org/10.33095/e21b7x84
  2. Albasyouni,   W.,   Kamara,   J.,   &   Heidrich,   O. (2025). Key challenges and opportunities to  improve  risk  assessments  in  the  con-struction    industry.    Buildings,    15(11), 1832. https://doi.org/10.3390/build-ings15111832
  3. Al-Khazaleh,  S.,  Badwan,  N.,  Qubbaj,  I.,  &  Al-mashaqbeh,  M.  (2025).  Level  of  financial disclosures  for  listed  insurance  compa-nies using ISO 31000: Empirical evidence from  Jordan  and  Palestine.  Asian  Review of Accounting, 33(2), 386–407. https://doi.org/10.1108/ARA-05-2024-0151
  4. Banaitiene, N., & Banaitis, A. (2012). Risk man-agement  in  construction  projects.  In  Risk Management—Current  Issues  and  Chal-lenges. IntechOpen. https://doi.org/10.5772/51460
  5. Barney,  J.  (1991).  Firm  resources  and  sus-tained  competitive  advantage.  Journal  of Management, 17(1), 99–120. https://doi.org/10.1177/014920639101700108
  6. Becker, G. S. (1993). Human Capital: A Theoret-ical  and  Empirical  Analysis,  with  Special Reference  to  Education  (3rd  ed.).  Univer-sity of Chicago Press.
  7. Berends,  T.,  Stewart,  R.,  Cretu,  O.  (2011).  Risk Management for Design and Construction. John Wiley & Sons, Inc.
  8. British   Standards   Institution.   (2011).   Risk management –Code of practice and guid-ance  for  the  implementation  of  BS  ISO 31000  (BS  31100:2011).  British  Stand-ards Institution.
  9. Chenya,  L.,  Aminudin,  E.,  Mohd,  S.,  &  Yap,  L.  S. (2022).  Intelligent  risk  management  in construction  projects:  Systematic  litera-ture   review.   IEEE   Access,   10,   72936–72954. https://doi.org/10.1109/AC-CESS.2022.3189157
  10. Connair,  S.  (2013).  Enterprise  risk  manage-ment:  From  silos  to  strategic  objectives. Armed Forces Comptroller, 24-26.
  11. COSO.  (2004).  Enterprise  Risk  Management -Integrated    Framework.    Committee    of Sponsoring  Organizations  of  the  Tread-way Commission.
  12. Cronbach, L. J. (1951). Coefficient Alpha and the Internal Structure of Tests. Psy-chometrika, 16, 297-334. https://doi.org/10.1007/BF02310555
  13. Dela Cruz, G. S., & Polinar, M. A. N., (2023). Con-tract management system among selected construction companies in qatar. Interna-tional   Journal   of   Multidisciplinary:   Ap-plied  Business  and  Education  Research, 4(8), 2853–2862. https://doi.org/10.11594/ijma-ber.04.08.23
  14. Elbashbishy,  T.  S.,  Hosny,  O.  A.,  Waly,  A.  F.,  & Dorra,  E.  M.  (2022).  Assessing  the  impact of  construction  risks  on  cost  overruns:  A risk   path   simulation–driven   approach. Journal  of  Management  in  Engineering, 38(6), 04022058. https://doi.org/10.1061/(ASCE)ME.1943-5479.0001090
  15. Fraser, J., Quail, R., & Simkins, B. (2021). Enter-prise Risk Management: Today’s Leading Research  and  Best  Practices  for  Tomor-row’s Executives (2nd ed.). Wiley.Fraser,  J.,  &  Simkins,  B.  (2016).  The  challenges of  and  solutions  for  implementing  enter-prise  risk  management.  Business  Hori-zons, 59(6), 689–698. https://doi.org/10.1016/j.bushor.2016.06.007
  16. Gleißner, W., & Berger, T. B. (2024). Enterprise risk  management:  Improving  embedded risk  management  and  risk  governance. Risks, 12(12), 196. https://doi.org/10.3390/risks12120196GWC  secures  ISO  31000:2018  recertification. (2025, March 20). The Peninsula. https://thepeninsulaqatar.com/arti-cle/20/03/2025/gwc-secures-iso-310002018-recertifica-tion?utm_source=chatgpt.com
  17. Hardjomidjojo,  H.,  Pranata,  C.,  &  Baigorria,  G. (2022).  Rapid  assessment  model  on  risk management  based  on  ISO  31000:2018. IOP Conference Series: Earth and Environ-mental Science, 1063(1), 012043. https://doi.org/10.1088/1755-1315/1063/1/012043
  18. Hopkin,  P.  (2018).  Fundamentals  of  Risk  Man-agement:  Understanding,  Evaluating  and Implementing Effective Risk Management (Fifth). Kogan Page.Hutchins,  G.  (2018).  ISO  31000:2018  Enter-prise Risk Management.ISO.  (2018).  ISO  31000:2018 –Risk  manage-ment –Guidelines.  International  Organi-zation for Standardization.
  19. ISO  31000:2009  Certificate  Award  for  QPM. (2019, August 27). Qatar Project Manage-ment Company (QPM). https://www.qpm.com.qa/english/Me-diaCenter/News/Pages/Press-28082019.aspx?utm_source=chatgpt.comISO  31000  Certification  in  Qatar.  TopCertifier. Retrieved April 3, 2025, from https://www.iso-certification-qa-tar.com/iso-31000-certifica-tion.html?utm_source=chatgpt.com
  20. Kendrick,  T.  (2015).  Identifying  and  Managing Project  Risk:  Essential  Tools  for  Failure-Proofing  Your  Project  (Third).  American Management Association.
  21. Kerstin,  D.,  Simone,  O.,  Nicole,  Z.,  &  Lehner,  O. (2014).  Challenges  in  implementing  en-terprise  risk  management.  ACRN  Journal of Finance and Risk Perspectives, 3(3). 1-14.
  22. Kotter,  J.  P.  (1996).  Leading  change.  Boston, MA: Harvard Business School Press.
  23. Leitch,  M.  (2010).  Iso  31000:2009—The  new international  standard  on  risk  manage-ment.    Risk    Analysis,    30(6),    887–892. https://doi.org/10.1111/j.1539-6924.2010.01397.x
  24. Lewin, K. (1951). Field theory in social science: Selected    theoretical    papers    (D.    Cart-wright,  Ed.).  New  York:  Harper  &  Broth-ers.
  25. Leyronnas, K. (2022, January 3). Better compli-ance   with   risk   framework   ISO   31000? Here’s  how.  Zenya  Software  Blog. https://zenya-soft-ware.com/en/knowledge/iso-31000/Msheireb Properties awarded the international ISO 31000:2009 Risk Management Stand-ard.    (2013,    March    16).    BSI    Group. K
  26. Moeller,  R.  R.  (2011).  COSO  Enterprise  Risk Management:  Establishing  Effective  Gov-ernance, Risk, and  Compliance Processes. (2nd ed.). Wiley.
  27. Okika, M. C., Vermeulen, A., & Pretorius, J. H.  C. (2025). A systematic approach to identify and  manage  supply  chain  risks  in  con-struction   projects.   Journal   of   Financial Management  of  Property  and  Construc-tion, 30(1), 42–66. https://doi.org/10.1108/JFMPC-09-2023-0057
  28. Ökmen,   Ö.,   Leijten,   M.,   Stratton,   T.,   Bosch-Rekveldt,  M.,  &  Bakker,  H.  (2024).  Em-ployee  perspectives  on  risk  management in a construction company. Journal of Risk Research, 27(3), 404–422. https://doi.org/10.1080/13669877.2024.2328202
  29. Pagach,  D.P.,  &  Warr,  R.S.  (2011).  The  charac-teristics  of  firms  that  hire  chief risk  offic-ers.  Journal  of  Risk  and  Insurance,  78(1), 185-211.PMI.  (2013).  A  guide  to  the  project  manage-ment    body    of    knowledge    (PMBOK® Guide)  (5th  ed.).  Project  Management  In-stitute.
  30. PMI.  (2021).  A  guide  to  the  project  manage-ment    body    of    knowledge    (PMBOK® Guide)  (7th  ed.).  Project  Management  In-stitute.
  31. Purwanti,     L.,     Triyuwono,     I.,     Maski,     G., Pusposari,  D.,  Prakoso,  A.,  &  Ibrahim,  M. (2025). The impact of ISO 31000 adoption on the performance of banking companies in  Indonesia.  Cogent  Business  &  Manage-ment, 12(1), 2507222. https://doi.org/10.1080/23311975.2025.2507222
  32. Putri, N. L., & Wijaya, A. F. (2023). Information technology  risk  management  in  educa-tional institutions using iso 31000 frame-work. Journal of Information Systems and Informatics, 5(2), 630–649. https://doi.org/10.51519/journal-isi.v5i2.468Qatar Charity obtains 5 ISO certificates. (2024, January 2). Qatar Charity. https://www.qchar-ity.org/en/qa/news/details/22827-qa-tar-charity-obtains-5-iso
  33. Renault,   B.,   Agumba,   J.N.,   &   Balogun,   O.A. (2016). Drivers for and obstacles to enter-prise  risk  management  in  construction firms:  a  literature  review.  Procedia  Engi-neering, 164, 402-408. doi: 10.1016/j.proeng.2016.11.637
  34. Schein,  E.  H.  (Ed.).  (2010).  Organizational  cul-ture and leadership (4th ed). Jossey-Bass.Sharma, S. & Gupta, A.K. (2019). Risk identifica-tion and management in construction pro-jects:    literature    review.    International Journal of Humanities, Arts and Social Sci-ences, 5(6), 224-231,  https://dx.doi.org/10.20469/ijhss.5.20002-6
  35. Smiechewicz,  W.  (2001).  Case  study:  imple-menting    enterprise    risk    management. Bank Accounting & Finance, 14(4):21-27.
  36. Sousa,  V.,  Almeida,  N.,  &  Dias,  L.  (2012).  Risk management framework for the construc-tion    industry    according    to    the    iso 31000:2009   standard.   Journal   of   Risk Analysis  and  Crisis  Response,  2(4),  261-274.
  37. Soubra,  L.,  Al-Mohannadi,  A.,  Berzan,  Y.,  Con-sunji,  R.,  El  Menyar,  A.,  Al  Thani,  H.,  Al-Marri,  M.  A.,  &  Al-Hajri,  H.  S.  (2025).  Im-pact  of  risk  mitigation  strategies  on  non-fatal injuries in the construction sector in Qatar:  A  retrospective  analysis.  Interna-tional Archives of Occupational  and Envi-ronmental Health. https://doi.org/10.1007/s00420-025-02126-x
  38. Truslow,  D.K.  (2003).  Operational  Risk  Man-agement: It’s Everyone’s Job. The RMA Journal, 85(5):34-37
  39. Yousri, E., Sayed,  A. E. B., Farag, M. A. M., & Ab-delalim,  A.  M.  (2023).  Risk  identification of building construction projects in Egypt. Buildings, 13(4), 1084. https://doi.org/10.3390/build-ings13041084

Tools


Copyright © 2025  KITE Digital Educational Solutions |  Exclusively distributed by CE-Logic