Low, S P; Liu, J Y; Ng, S H M and Liu, X (2013) Enterprise risk management and the performance of local contractors in Singapore. International Journal of Construction Management, 13(2), pp. 27-41. ISSN 1562-3599
Abstract
Enterprise risk management has been creating value in many industries around the world. However, there is still lack of study about its influence on the Singaporean construction industry. This study is to investigate the nexus between ERM and the performance of Singaporean contractors, and to identify the main hindrances that impede ERM implementation. Questionnaire-based survey is conducted with Singaporean contractors to test their awareness and implementation of ERM, and to what extent ERM has affected different aspects of their performance. The result shows that, apart from health, 10 selected performance indicators have benefited from ERM. The main factors impeding the implementation of ERM are: inadequate time for implementation, lack of experienced staff, and inadequate resources. The study clarifies the reasons why ERM has not fully performed as anticipated. Suggestions to further tap the benefit of ERM are also given.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | enterprise risk management; nexus; performance; Singaporean contractors |
| Index terms: | Singapore, enterprise risk management, construction industry, implementation, performance indicator, survey, questionnaire, local contractor |
| Subjects: | industry analysis, financial risk, Geography, performance management, contractual arrangements, practitioner, data collection methods |
| Topics: | Quality Management, Procurement, Roles and Professions, Research Practice, Geographical Context, Cost Management |
| Descriptive scope: | 5 PCTEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here