Fang, D; Fong, P S W and Li, M (2004) Risk assessment model of tendering for Chinese building projects. Journal of Construction Engineering and Management, 130(6), pp. 862-868. ISSN 0733-9364
Abstract
This paper presents a risk assessment model for tendering of Chinese building projects on the basis of identification and evaluation of the major risk events in the Chinese construction market, investigations and interviews from which the factors inducing the risk events were determined, questionnaires on building projects within China's borders, and the logistic regression method. The findings show that, to a certain extent, the risk of tendering for projects and the risk of a contracted project can be assessed through analysis of factors such as owner type, source of project financing, existence or lack of past cooperation between contractors and owners, the intensity of competition for tendering, the reasonableness of the bid price, and the degree of support from the contracting company to its projects. The model can serve as a supplementary tool for Chinese contractors in making decisions for project tendering within Chinese borders. At the same time, it is of reference significance for international contractors, enabling them to further understand the risks in the contract market for Chinese building projects.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | China; contractors; regression models; risk management |
| Index terms: | risk assessment, investigation, risk management, construction market, regression model, logistic regression, owner, questionnaire, competition, China, cooperation, financing, interview |
| Subjects: | psychology, economic analysis, data collection methods, risk assessment, sociology, market analysis, statistical analysis, financial risk, Geography |
| Topics: | Geographical Context, Research Practice, Business Strategy, Cost Management, Stakeholder Management, Risk Management, Organizational Design |
| Descriptive scope: | 4 PCEA |
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