Using Debiasing Strategies to Manage Cognitive Biases in Construction Risk Management: Recommendations for Practice and Future Research

Abstract

Construction risk management processes necessarily rely on subjective assessments and heuristic rules. Historic data are desirable, but rarely are available due to the unique nature of individual construction project and the required risk assessments. A comprehensive literature review highlighted the lack of attention by researchers and industry professionals to understanding the influence of cognitive biases on construction risk management processes. The authors reviewed a representative list of 18 relevant cognitive biases from the literature that could influence risk-based perceptions, assessments, and decisions among industry practitioners. This paper discussed the application of empirically validated debiasing strategies and experimental controls for professional and academic settings. The authors also discussed the limitations associated with debiasing strategies to promote a deeper understanding of results and accurate reporting of research validity for future researchers. This work is at the nexus of risk management and behavioral psychology. It provides detailed discussion and impetus for future research to improve the rigor of the risk management process.