| dc.description.abstract | This master’s thesis is conducted at the University of Agder in cooperation with Kruse Smith
Entreprenør. The thesis is a case study on risk management in Kruse Smith. In 2018, Kruse Smith
implemented a new method for risk management for all levels in their organization and all phases
of their construction projects. Ever since the new method was implemented, a lot of qualitative and
quantitative data has been stored. Now, Kruse Smith wished to use the collected data to assess their
methodology and its usage. In collaboration with these thesis’ supervisors, the following research
question was formed: How does the risk management methodology contribute to the company’s risk
management? In addition, the making of three sub-questions and further limitations helped set the
scope of the master’s thesis.
The knowledge background consists of the following: different aspects of risk management; the concept
of Wisdom of Crowds – which is a central part of Kruse Smith’s risk management methodology; a
short explanation for sample space, and theory on early warning signs – a topic particularly relevant
for one of the sub-questions. A combination of literature study, observations, content analysis on
Kruse Smith’s stored risk data, and interviews of company personnel have been used to answer the
research question.
Some of the main findings are that: the company’s management now has a wider overview of the
company’s total risk exposure; they have gotten clearly defined risk management processes and a
defined risk culture; more people are now involved in the risk management; and that it is challenging
to use the risk data for continuous improvement in its current state. | |
