Mohamed, O; Abd-Karim, S B; Roslan, N H; Mohd Danuri, M S and Zakaria, N (2015) Risk management: Looming the modus operandi among construction contractors in Malaysia. International Journal of Construction Management, 15(1), pp. 82-93. ISSN 1562-3599
Abstract
Construction projects are commonly afflicted by risk due to their uncertainty and complexity in nature. Thus this requires the contractor to have an effective risk management approach. Previous studies revealed that there was no formal risk management being used by the contractors in Malaysia. Hence, the study concentrated on the types of risk involves during construction project, the application of risk management by contractors in Malaysian construction industry and the strategy taken by them to mitigate risks. The research conducted surveys to the contractors registered with the Construction Industry Development Board, Malaysia (CIDB). The finding shows that there is a lack of standardization in the practice of risk management. Risk management has been mandated by the company and that the application has improved project performance. Besides formal approach and educating the people to conduct risk management, it is recommended that a standardized guideline of risk management is needed to improve the application of risk management among contractors in Malaysia.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction project; Malaysian contractors; risk management |
| Index terms: | construction industry development, Malaysia, construction industry, standardization, project performance, risk management, strategy, survey, construction contractor, complexity, construction project |
| Subjects: | Geography, production management, project management theory and practice, development economics, performance measurement, management, industry analysis, systems engineering, practitioner, risk assessment, data collection methods |
| Topics: | Quality Management, International Construction, Business Strategy, Project Management, Geographical Context, Research Practice, Engineering Principles, Roles and Professions, Risk 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