scholarly journals Risk Management in Engineering and Construction: A Case Study in Design-Build Projects in Vietnam

2020 ◽  
Vol 10 (1) ◽  
pp. 5237-5241 ◽  
Author(s):  
P. T. Nguyen ◽  
P. C. Nguyen
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Developing Countries ◽  
Quality Assurance ◽  
Construction Industry ◽  
Management Tools ◽  
Design Build ◽  
Good Identification ◽  
Contract Form

The constant demand for construction in developing countries like Vietnam causes more and more challenges and difficulties to Project Management Units (PMUs) in carrying projects to completion on schedule, with quality assurance and fewer costs. In order to do this, PMUs need to have better and tighter management tools and forms. However, in order to minimize risks during project implementation, the binding terms in contracts are also becoming stricter with more and more new forms of contracts. One of them is the design-build (DB) contract form. This paper presents the critical risk factors for design-build projects in the construction industry. Good identification and management of these risk factors will help projects succeed and will increase the confidence of owners and contractors who seek to use the design-build form.

Foreign Aid and Family at Risk

2020 ◽  
pp. 154-168
Author(s):  
Kana Takamatsu
Keyword(s):  
At Risk ◽  
Risk Management ◽  
Developing Countries ◽  
Foreign Aid ◽  
Migrant Workers ◽  
Management Tools ◽  
And Migration ◽  
Aid Policy ◽  
Policy Discussion

This chapter uses the case study of Myanmar to examine how the foreign aid policy should have supported families facing risks. The chapter addresses the issue of poverty, which continues to be the gravest risk in the developing countries. Family could be the cause of poverty as well as the solution of poverty in foreign aid policy discussion. The situation of poverty and migration as risk management tools is examined. Interviews of migrant workers in Thailand and Japan were conducted. There is also a discussion about the developments of Myanmar and foreign aid and how the international community has inadequately responded to the democratization of Myanmar and to the needs of its people.

Foreign Aid and Family at Risk

2015 ◽  
pp. 425-439
Author(s):  
Kana Takamatsu
Keyword(s):  
At Risk ◽  
Risk Management ◽  
Developing Countries ◽  
Foreign Aid ◽  
Migrant Workers ◽  
Management Tool ◽  
And Migration ◽  
Aid Policy ◽  
Policy Discussion

This chapter examines how the foreign aid policy should and should have supported families facing risks by using the case study of Myanmar. The chapter starts by addressing the issue of poverty, which continues to be the gravest risk in the developing countries, and how family could be the cause of poverty as well as the solution of poverty in foreign aid policy discussion. The situation of poverty and migration as a risk management tool are then examined in the second section of the chapter. Interviews with migrant workers in Thailand and Japan were conducted. Finally, there is a discussion about the developments of Myanmar and how the foreign aid and international community has inadequately responded to the democratization of Myanmar and to the needs of its people.

Developing a Model for Risk and Responsibility Management Share Amongst Stakeholders Consortium in Construction Projects

2013 ◽  
Vol 684 ◽  
pp. 639-643 ◽  
Author(s):  
Alireza Ghaffari
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Construction Industry ◽  
Construction Projects ◽  
Construction Project ◽  
Significant Risk ◽  
Interest Rate Risk ◽  
Extensive Literature ◽  
Productivity Cost ◽  
Management Techniques

The construction project is a complex sector which characterized with low productivity, cost and time overruns and conflicts. The major challenges in construction project risk assessment which may attributed to knowledge requirements for determining the level of uncertainty and development of complex models to predict . Portfolio theory and capital market theory stipulate that risk consists of two types, First, systematic risk, which cannot be controlled, emanates from external factors such as acts of God, natural disasters, market risk, interest-rate risk, and purchasing-power risk. Second, unsystematic risk, which can be controlled, relates to organization-specific factors such as business risk and financial risk (Fischer and Jordan 1996).) . To identifies the risk factors that influence the cost-effective management, operation, and maintenance of construction project, as well as how and when in the project life cycle the identified risk factors impact to the associated costs . The identification and design of risk is the first step of risk management. It contain the recognition of potential risk event conditions in a project and the clarification of risk responsibilities. A total of 50 risk factors on construction for stake holders (client , contractor ,consultant ) share projects were identified after conducting an extensive literature survey. A questionnaire survey was conducted from 60 project managers(20 from each category) in all three proficiencies with background experience in buildings ,road and bridges with minimum 15 years experience , to identify the most significant risk factors impact in construction projects . Interviews were conducted face to face, ensuring a 100 percent response rate. The questionnaire was amended by incorporating feedback of the experts to suit the local environments of the construction industry. The weight or rate of each risk factor gained by using a five-point Liker scale from a consolidated conceptual framework of all 50 risk factors identified from the deep literature work . The main aim of these research is to identify ,categorize and ranking common risks, exert management techniques to address those risks , effective risk management and risk status in the construction industry and to help stakeholders to take stock of their ongoing and future projects, with a focus on important risks, their management techniques and barriers to effective implementation of risk management systems.

scholarly journals IMPACT OF COVID 19 PANDEMIC ON PROJECT PORTFOLIO MANAGEMENT-A CASE STUDY ON CONSTRUCTION INDUSTRY IN SOUTHERN INDIA

2021 ◽  
Vol 12 (2) ◽  
pp. 168-178
Author(s):  
Ajay Krishnan ◽  
Ajithkumar S ◽  
Manishankar G ◽  
Upendra K ◽  
Kabilan A ◽  
...  
Keyword(s):  
Risk Factors ◽  
Real Estate ◽  
Construction Industry ◽  
Portfolio Management ◽  
Construction Projects ◽  
Project Portfolio ◽  
Project Portfolio Management ◽  
Management Tools ◽  
Real Estate Sector ◽  
The Impact

In India, Project Portfolio Management (PPM) is in practice as a tool for prioritizing and managing real estate projects in construction organizations. But due to insufficient funding, improper judgment of experts during the crisis situation, the selection of optimal project portfolio prototype can be viewed as a risk based decision making process involving various risk factors. The objective of this study is to analyze the importance of project portfolio management and the risks associated with it in the construction industry taking into account the impact of novel corona virus COVID 19. This research identifies the adoption of more consistent project governance, risk management techniques and way more careful project portfolio management as the core area of study. A conceptual framework for Project Portfolio Management is also designed after analyzing various parameters of Project Portfolio Management of construction industry with the help of Bayesian framework. The key motive for undertaking this part of examination on real estate sector of Indian construction industry in southern part of India to reduce the impacts and increase the return on investment from the projects by mitigating the effect of risk factors associated in the projects.  Project Portfolio Management tools and techniques are very useful for managing multiple construction projects.

scholarly journals Dealing with unpredictable risk - The influence of external factors on information systems development and implementations

2021 ◽  
Author(s):  
◽  
Ettiene Esterhuizen
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Project Management ◽  
Information Systems ◽  
Systems Development ◽  
Information Systems Development ◽  
Management Processes ◽  
Huge Impact ◽  
Risk Processes

<p>Organisations and especially Government departments develop information systems for their own specific needs, due to this Government departments invests a great deal in information systems development and implementation projects. The intention is to save on cost and develop information systems according to their needs and requirements. Unfortunately such projects are vulnerable and subject to a range of risks.  This case study identifies the risk factors involved in information systems development and implementation projects and the risk processes that are in place to mitigate against those risk factors. Furthermore the case study investigates an information systems development and implementation project where four legacy systems were to be merged into one newly developed system. The project was interrupted when an organisational merger resulted in the loss of key members of the governance board and the project team, either through redundancy or being allocated other responsibilities within the organisation. This exposed the project to unpredictable risk which caused the project to head down the path of possible failure.  The case study outlines the project plan, what actually happened and what according to the interviewed participants happened during the project. It is clear that the risk management processes wasn't followed and that wrongful decisions were made during the organisational merger. Unpredictable risks as a result of the merger and the decision to continue the project required a strong governance board, proper project management, proper risk management and the execution of the risk management processes. The lack of governance and project management had a huge impact on the project while the loss of expertise and knowledge added to the risk profile which resulted in further complications to the project. It’s during these situation that a strong governance board and proper project management is needed to make those critical decisions and steer the project towards success.</p>

QUALITY MANAGEMENT IN A CONSTRUCTION COMPANY AS AN ELEMENT OF RISK MANAGEMENT SYSTEM

2020 ◽  
Vol 2 (8) ◽  
pp. 70-75
Author(s):  
M. V. RAKHOVA ◽  
◽  
I. I. SAVEL’EV ◽  
Keyword(s):  
Risk Management ◽  
Quality Assurance ◽  
Quality Management ◽  
Construction Industry ◽  
Point Of View ◽  
Management Systems ◽  
Construction Company ◽  
Construction Enterprises ◽  
Risk Management System

The main issues of quality management in the construction industry and their role in the company are highlighted in the article. The main subsystems of quality management are defined. The grouping of the most significant risks in construction from the point of view of quality assurance of documentary, personnel, material and technical support is conducted. The necessity of joint formation of quality management and risk management systems for the purpose of effective and long-term functioning of construction enterprises has been argued.

DISPUTED RISKS IN CONSTRUCTION

2019 ◽  
Vol 6 (1) ◽  
Author(s):  
Rita Awwad ◽  
Joe Karam
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Construction Industry ◽  
Mitigation Strategy ◽  
Descriptive Statistics ◽  
Cost Overrun ◽  
Project Risks

The construction industry is perceived as one of the most crucial fields in risk management studies due to its inherent risks and complexity. Despite the large amount of research presented in this area, experts still prefer relying on their own knowledge and experience to manage project risks. This approach leads to various disputes among construction stakeholders over the ownership of these risks and their mitigation. Such disputes normally affect the project’s goals in terms of budget and schedule. Many researchers have addressed risk factors in the construction field; however, none has tackled the disputed risks among construction parties. This research aims at identifying the different disputed risk factors among project stakeholders along with their respective mitigation strategy. It is based on an empirical questionnaire sent to construction practitioners with various expertise. An analysis of the results is conducted using descriptive statistics and one-on-one interviews. This research provides experts with a list of the most disputed risks in construction, along with their mitigation approach. In the end, construction parties will be able to meet the project’s goals and steer clear of any delay or cost overrun resulting from the occurrence of disputed risks.

The main causes of risk in residential real estate projects

2020 ◽  
Vol 45 (3) ◽  
pp. 152-162
Author(s):  
Leandro Pereira ◽  
Sandra Ferreira ◽  
José Santos
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Real Estate ◽  
Real Estate Market ◽  
Risk Indicators ◽  
Management Tools ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Projects ◽  
Potential Risks

In the recent years, the Portuguese Real Estate Market has been increasing exponentially. This growth, has generated, in the real estate companies, the need to implement effective project management tools and frameworks in order to provide important metrics of budget control, deadlines and increase risk management. This study aims to understand the different causes of risks in real estate projects and to measure the risk factors that provoke deviations, in terms of cost, time and quality in the real estate market in Portugal. To measure these risk factors, a new methodology has been implemented, namely a new real estate risk plan model for predicting the risks inherent to new construction projects. This methodology aims to produce new and more accurate strategies and plans so as to effectively respond to potential risks and thus achieve the proposed objectives through the desired success. This methodology allows companies to effectively implement a project in a timely manner in order to reduce and mitigate the probability of risk failure based on risk management tools and techniques. The results of this case study have shown that implementing a risk management project is crucial to highlight and measure the risk of project failures and that Companies must implement risk indicators or triggers that give visibility to potential risks/losses that impact company objectives and, on the other hand, establish metrics that translate the organization’s appetite and tolerance into critical risks.

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