Exploring Critical Risk Factors of Office Building Projects

Phong Nguyen, Cuong Phu Pham, Phuong Thanh Phan, Ngoc Bich Vu, My Tien Ha Duong and Quyen Nguyen

MPRA Paper from University Library of Munich, Germany

Abstract: Risks and uncertainty are unavoidable problems in management of projects. Therefore, project managers should not only prevent risks, but also have to respond and manage them. Risk management has become a critical interest subject in the construction industry for both practitioners and researchers. This paper presents critical risk factors of office building projects in the construction phase in Ho Chi Minh City, Vietnam. Data was collected through a questionnaire survey based on the likelihood and consequence level of risk factors. These factors fell into five groups: (i) financial risk factors; (ii) management risk factors; (iii) schedule risk factors; (iv) construction risk factors; and (v) environment risk factors. The research results showed that critical factors affecting office building projects are natural (i.e., prolonged rain, storms, climate effects) and human-made issues (i.e., soil instability, safety behaviors, owner’s design change) and the schedule-related risk factors contributed to the most significant risks for office buildings projects in the construction phase in Ho Chi Minh City. They give construction management and project management practitioners a new perspective on risks and risk management of office buildings projects in Ho Chi Minh City and are proactive in the awareness, response, and management of risk factors comprehensively.

Keywords: Construction Management; Office Buildings Projects; Risk Management; Project Management (search for similar items in EconPapers)
JEL-codes: G32 L74 O18 (search for similar items in EconPapers)
Date: 2020-08-04, Revised 2020-12-30
New Economics Papers: this item is included in nep-cfn, nep-ppm, nep-rmg and nep-sea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published in Journal of Asian Finance, Economics and Business 2.8(2021): pp. 0309-0315

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/109901/1/MPRA_paper_109901.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:109901

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().