Application of Risk Significance Index Score to Construction Projects in Malaysia

2013 ◽  
Vol 838-841 ◽  
pp. 3102-3108
Author(s):  
Boon Hoe Goh ◽  
Byung Gyoo Kang ◽  
Chung Lian Liew ◽  
Wee Kang Choong ◽  
Tuck Wai Yeong
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Literature Review ◽  
Construction Industry ◽  
Questionnaire Survey ◽  
Construction Projects ◽  
Index Score ◽  
Project Risk ◽  
Interview Survey ◽  
Potential Risks

Risk management is one of the most important areas in project management particularly in the construction industry. However it is not possible to analyze all of the potential risks as it will require too much time and effort. Therefore in order to identify and analyze the significant risks, the risks should be categorized and ranked. This research applied the concept of risk significance index score to construction projects in Malaysia. A comprehensive list of 40-potential risks has been developed through literature review and an interview survey. A questionnaire survey was conducted to produce project risk significance index score for the risks. The ranks of the risks have been identified and solutions for the significant risks have been produced through interviews. This research proves the practical use of risk significance index score for construction projects in Malaysia.

BIM-Risk System for Chinese International Contractors

2015 ◽  
Vol 719-720 ◽  
pp. 181-186
Author(s):  
Ya Ting Li
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Construction Industry ◽  
Cost Management ◽  
External Environment ◽  
Project Risk ◽  
Building Information Model ◽  
International Construction ◽  
Potential Problems ◽  
Building Information

As the external environment of the international construction project has become increasingly complex, risk management is emphasized in the project management. BIM(Building Information Model) has bring change to the Construction Industry in China. It has contributed to the schedule and cost management. However, BIM is not widely used to solve the problem of risk management. This thesis cites the possibility about BIM application to risk management and evaluates the progress it may bring to the process of risk management. Furthermore, a BIM-Risk System is proposed for Chinese international contractors to solve some major risks the international contractors may face. By using this system, the level of the project risk management will significantly improve. Then the barriers and the potential problems of applying BIM to risk management in China are analyzed. The BIM application to risk management has great value to be further researched.

scholarly journals Identification of Causes and Minimization of Delays in Highway Projects of Pakistan

2019 ◽  
Vol 38 (1) ◽  
pp. 103-112
Author(s):  
Samiullah Sohu ◽  
Abdul Fattah Chandio ◽  
Kaleem ullah
Keyword(s):  
Literature Review ◽  
Construction Industry ◽  
Questionnaire Survey ◽  
Construction Projects ◽  
Structured Interview ◽  
Mitigation Measures ◽  
Structured Interviews ◽  
Highway Projects ◽  
Mean Values ◽  
Causes Of Delays

The problem of delay in construction industry is a regular phenomenon worldwide, and construction industry of Pakistan has no exception, particularly in highways projects. Delay can be described as the extension of time to complete the construction project. The aim of this paper is to identify main causes of delays in highway projects of Pakistan, and to determine mitigating measures for the identified causes. The research method of this study is based on literature review, questionnaire survey and semi structured interview. From in-depth literature review, twenty-six common causes of delay were found. A questionnaire survey was carried out among construction professionals of highway projects. The causes of delay in highways projects were ranked referring to their Mean values. A semi structured interview was carried out to determine mitigation measures for the top ten causes of delays. The data gathered from questionnaire survey was analyzed using SPSS (Statistical Package for the Social Sciences) while, data collected through semi structured interviews was analyzed using Nvivo software. The findings of this study are expected to be useful for construction parties, to mitigate the delays in highway construction projects of Pakistan.

Fuzzy Analytic Hierarchy in Project Risk Management - New Stadium Construction Project in Weifang City

2011 ◽  
Vol 243-249 ◽  
pp. 6362-6368
Author(s):  
Yan Zhang ◽  
Chang Jiang Liu
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Construction Projects ◽  
Large Scale ◽  
Construction Project ◽  
Construction Project Management ◽  
Analytic Hierarchy ◽  
Project Risk ◽  
Management Case Study

In the field of engineering and construction, unqualified construction quality, time delays, cost more than expected phenomena to occur. Because of these characteristics such as its large-scale construction projects, long cycle, the production of single and complex, there is greater risk than the production of general products, the risk increases the difficulty of construction project management, operating costs and the possibility of potential losses, therefore, risk management emerged and become an increasingly important integral part of project management. In this paper, fuzzy analytic hierarchy be used to construction project risk assessment, and to order the sort of each risk in order to prevent significant risks. On an actual project - the new stadium construction in Weifang City risk management case study, the reduction of risk of project failure is expected, but also the project is hoped for other industries to provide some reference for risk management.

Investigating the managerial ‘‘nuts and bolts’’ for the construction industry

2020 ◽  
Vol 10 (3) ◽  
pp. 331-348
Author(s):  
Jeffrey Boon Hui Yap ◽  
Ian Ni Chow
Keyword(s):  
Project Management ◽  
Construction Industry ◽  
Questionnaire Survey ◽  
Construction Projects ◽  
Rank Correlation ◽  
Construction Time ◽  
Content Type ◽  
Planning And Control ◽  
Spearman’S Rank Correlation ◽  
And Control

PurposeManagerial shortfalls can considerably undermine the delivery performance of construction projects. This paper appraises the project management essentials (PMEs) for successful construction project delivery.Design/methodology/approachFollowing a detailed literature review, a questionnaire survey was developed encompassing 20 PMEs that were identified. An opinion questionnaire survey was used to facilitate data collection from key construction stakeholders in the Malaysian construction industry. The survey data were subjected to descriptive statistics and exploratory factor analysis.FindingsFindings indicated that the leading PMEs are competency of the project team, competency of project manager, good leadership, effective planning and control and realistic cost and time estimate. Spearman’s rank correlation tests affirmed a good agreement on the ranking of PMEs across stakeholder groups. The present study found that PMEs for construction have a total of four dimensions, namely: scope, communication and competence management; stakeholder commitment and collaborative engagement; construction time–cost planning and control; and environment, health, safety and quality management.Practical implicationsThe findings could potentially contribute to the development of appropriate project management best practices to address managerial shortfalls in Malaysia and other developing countries.Originality/valueThis paper bridges the identified knowledge gap about critical managerial dimensions for successful project management in construction. The present study adds to the existing body of knowledge around this under-explored area in the construction management literature.

scholarly journals Identifying Motivational and Demotivational Productivity Factors in Qatar Construction Projects

2019 ◽  
Vol 9 (2) ◽  
pp. 3945-3948 ◽  
Author(s):  
M. H. Momade ◽  
M. R. Hainin
Keyword(s):  
Project Management ◽  
Literature Review ◽  
Construction Industry ◽  
Construction Projects ◽  
Vital Role ◽  
Motivational Factors ◽  
Key Factors ◽  
Structured Interviews ◽  
Effective Performance ◽  
The Impact

Motivation is one of the factors that influence productivity. Project management plays a vital role in the success of projects in Qatar construction industry (QCI). It relies profoundly on the team’s active participation and effective performance. Hence it is important to assess the impact of motivation and demotivation on performance. The main objective of this paper is to identify the key factors that cause motivation and de-motivation in QCI. Literature review, surveys with experts and semi-structured interviews were conducted to identify these factors. Using these factors to conduct specific motivational programs will help improve productivity in QCI. Research on motivational factors impacting productivity has not been conducted in Qatar before, so this work will provide insight on how to deal with productivity issues that QCI faces ahead of a major world event that Qatar will host in 2022.

scholarly journals Detailed Study on Critical Delay Factors Affecting the Construction Industry

2019 ◽  
Vol 1 (1) ◽  
pp. 45-53
Author(s):  
Ravisankar K.L. ◽  
Bragateeswaran T
Keyword(s):  
Literature Review ◽  
Construction Industry ◽  
Questionnaire Survey ◽  
Construction Projects ◽  
Site Investigation ◽  
Site Management ◽  
Negative Effects ◽  
Local Conditions ◽  
Important Indicator ◽  
Factors Affecting

The Construction industry of India is an important indicator of the growth as it generates investment opportunities across various related sectors. Delay in construction projects is considered one of the most common problems causing a multitude of negative effects on the construction projects. Construction delays can be defined as the late completion of work compared to the planned schedule or contract schedule. Construction delays can be minimized only when their cause are identified. The objective of this study was to identify the major causes of construction delays. In this context the management of the delay may influence the financial performance of the project, since the overall value of contractual penalties may exceed ten percentage or more than that of the project budget. This study was carried out based on literature review and a questionnaire survey. The data for this study will be gathering through a detailed questionnaire survey. The questionnaire consists of total factors of seventeen group were contributed to the causes of construction delay based on literature review. In that seventeen groups have been consist of total 50 factors for delay. The questionnaire form is forwarded to various construction industries through email and in personal. The objectives of the study were successfully achieved. The top five most important factors that contributed to the causes of delays were Delay in financial support by owner to the contractor (Stage by stage payment), Design errors made by designers due to unfamiliarity with local conditions & environment, Equipment allocation problem, Poor site management & Inaccurate site investigation, Fluctuation of prices. To minimize delay in construction projects it has been identified that the top three effective methods of minimizing construction delays includes: site management and supervision, effective strategic planning, and clear information and communication channels.

scholarly journals The Importance and Use of Risk Management in Various Stages of Construction Projects Life Cycle (PLC)

2016 ◽  
Vol 11 (1) ◽  
pp. 48
Author(s):  
Kaveh Miladi Rad ◽  
O. Aminoroayaie Yamini
Keyword(s):  
Risk Management ◽  
Life Cycle ◽  
Project Management ◽  
Construction Industry ◽  
Construction Management ◽  
Construction Projects ◽  
Risk And Return ◽  
Industrial Sectors ◽  
Management Concept ◽  
The Way

Risk management is a step to make construction projects more efficient and practical such that uncertainties should be identified before occurring and changing into crisis and a balance should be made between threats and opportunities. Accordingly, construction industry is one of the most important and job creating industries in all countries. Compared to other economic-industrial sectors, construction management is highly influenced by the perception and employment of risk management concept. Additionally, there are abundant risks in such activities since Construction projects activities are very complex and various. Hence, it seems necessary to evaluate the proper use of risk management in various stages of Construction projects life cycle. In this regard, the present study attempts to describe Construction projects life cycle step by step and analyze the way of using risk management from designing stage to reviewing and supporting stage. The final objective of the study is to describe the process of using project management and its tools to create an optimal status in terms of risk and return balance in order to reach main objectives in construction projects.

scholarly journals Model for Identifying the Risk Level in Construction Projects

2019 ◽  
Vol 8 (3) ◽  
pp. 1343-1350
Keyword(s):  
Risk Management ◽  
Construction Industry ◽  
Survey Data ◽  
Risk Score ◽  
Construction Projects ◽  
Index Score ◽  
Management Model ◽  
Risk Level ◽  
Project Objectives ◽  
Industry Professionals

Risk is unexpected or unwanted happening of an event or activity. Risk management aims to identify unexpected happenings in the business or project, so that some decision can be taken to prevent further problems to the business or projects. Risk is categorized based on the influence of the key project objectives and sustaining the environment. Managing the risks successfully in the project leads to achieving the project objectives very quickly. To list out the project objectives, minimizing the risks and enhancing the priorities through questionnaire in the construction industry is planned through this research paper. Significance index score is obtained for each prioritized risk is used for developing a risk management model (RMM). With the help of survey data gathered from construction Industry professionals, risk score (RC) is determined and proposed a remedy for the same to an agreed level to reduce further risk in the projects.

scholarly journals GUIDELINES TO RISK MANAGEMENT MATURITY IN CONSTRUCTION PROJECTS

2016 ◽  
Vol 13 (3) ◽  
pp. 372 ◽  
Author(s):  
Rodrigo Goyannes Gusmão Caiado ◽  
Gilson Brito Alves Lima ◽  
Daniel Luiz de Mattos Nascimento ◽  
Julio Vieira Neto ◽  
Rodolpho Augusto Maultasch De Oliveira
Keyword(s):  
Risk Management ◽  
Literature Review ◽  
Construction Industry ◽  
Survey Research ◽  
Construction Projects ◽  
Construction Companies ◽  
Management Models ◽  
Management Capacity ◽  
Model Matrix ◽  
Market Preference

Purpose – This article aims to provide the guidelines to assess the risk management maturity (RMM) of construction projects.Design/methodology/approach – This article presents a literature review of the main risk management models, which aims to support a survey research to define, according to experts, the market preference and knowledge of RMM models.Findings – We pointed out in this article a set of guidelines to direct the maturity analysis of RM in the Construction Industry and proposed a model matrix to help companies to evaluate the maturity of the RM of a whole project or each activity separately.Research limitations/Implications – Limitations of this article include the search options originally defined by the researches in literature review and concepts and measures chosen to be evaluated by experts in the survey. Other approaches could explore the implementation of a RMM model considering quantitative measures in others areas.Practical Implications – The article provide to construction companies a way to measure their risk management capacity against four standard levels of maturity, allowing them to make benchmarking and to improve and increase their ability to manage risk.Originality/value – We highlighted to professionals and academics what factors were essential seeking to improve the risk management continuously.

scholarly journals Risk management in construction sector

2020 ◽  
Vol 8 (2) ◽  
pp. 237-243
Author(s):  
Oğuzhan Yavuz Bayraktar
Keyword(s):  
Risk Management ◽  
Construction Industry ◽  
Management System ◽  
Construction Projects ◽  
Cyclic Process ◽  
Project Risk Management ◽  
Construction Sector ◽  
Monitoring And Control ◽  
Project Risk ◽  
Risk Management System

The major requirement of every construction project is meeting client’s need of cost, quality and time. However, the construction industry is overwhelmed with risks more than any other industry due to the fact that they are present in every activity from design to completion. These risks need to be controlled early or face the possibility of cost overruns, time delays and poor quality work leading to displeasure of client and public. Although risk management in construction projects is a very important issue in terms of the firms operating in the construction sector, it has not yet gained clarity and prevalence in our country. Within the scope of this research, the aim of this research is to introduce the risk management system as a concept and to classify the risk in construction projects and to demonstrate the risk management techniques. Risk management system is a cyclic process. In the monitoring and control phase of applied risk responding strategies, some of the risks will be eliminated or reduced, some of unforeseen risks will appear and analysis steps will be realized again. At the end of the project, determination of to what degree project aims and targets have been reached and documentation of risk management system after evaluation regarding to the project will enable the company to use project risk management system more effectively and usefully in the projects undertaken later. Due to construction activities, processes, environment and organization’s structures, construction industry and the clients are broadly in relation with high risk degrees. Therefore, it is highly important for our country’s firms in construction industry to give necessary significance to project risk management idea and system and to consider them as a basic function of the projects for permanence of their enterprise existence.

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