Bing, L; Tiong, R L K; Fan, W W and Chew, D A S (1999) Risk management in international construction joint ventures. Journal of Construction Engineering and Management, 125(4), pp. 277-284. ISSN 0733-9364
Abstract
This paper identifies the risk factors associated with international construction joint ventures (JVs) from and 'integrated' perspective. The risk factors are grouped into three main groups: (1) Internal; (2) Project-specific; and (3) External. It examines the most effective mitigating measures adopted by construction professionals in managing these risks for their construction projects in East Asia. Based on an international survey of contractors, it was found that the most critical risk factors exist in the financial aspects of JVs, government policies, economic conditions, and project relationship. When entering a foreign construction market in the form of a JV, a foreign construction company could reduce its risks if it would carefully select its local partner, ensure that a good JV agreement is drafted, choose the right staff and subcontractors, establish good project relationships, and secure a fair construction contract with its client.
| Item Type: | Article |
|---|---|
| Index terms: | international construction, risk factor, construction contract, international survey, government policy, mitigating measure, Asia, risk management, subcontractor, joint venture, construction market, construction professional, construction project, economic condition, construction company |
| Subjects: | financial risk, public policy, professional development, environmental hazards, economic analysis, production management, regions and continents, market analysis, business, strategic management, risk assessment, practitioner, organization, research products and data, contract type |
| Topics: | Business Strategy, Geographical Context, Governance, Cost Management, Procurement, Project Management, International Construction, Sustainability, Information Management, Risk Management, Roles and Professions, Research Practice |
| Descriptive scope: | 2 PC |
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