Risk Management in Engineering and Construction

Phong Nguyen and Cuong Phu Nguyen

MPRA Paper from University Library of Munich, Germany

Abstract: The constant demand for construction in developing countries like Vietnam causes more and more challenges and difficulties to Project Management Units (PMUs) in carrying projects to completion on schedule, with quality assurance and fewer costs. In order to do this, PMUs need to have better and tighter management tools and forms. However, in order to minimize risks during project implementation, the binding terms in contracts are also becoming stricter with more and more new forms of contracts. One of them is the design-build (DB) contract form. This paper presents the critical risk factors for designbuild projects in the construction industry. Good identification and management of these risk factors will help projects succeed and will increase the confidence of owners and contractors who seek to use the design-build form.

Keywords: design-build (DB); risk management; project manager; construction management; Vietnam (search for similar items in EconPapers)
JEL-codes: D81 G32 L33 R42 (search for similar items in EconPapers)
Date: 2019-02-02, Revised 2020-01-09
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 (8)

Published in Engineering, Technology & Applied Science Research 01.10(2020): pp. 5237-5241

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:103509

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