IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/109901.html
   My bibliography  Save this paper

Exploring Critical Risk Factors of Office Building Projects

Author

Listed:
  • Nguyen, Phong Thanh
  • Phu Pham, Cuong
  • Thanh Phan, Phuong
  • Bich Vu, Ngoc
  • Tien Ha Duong, My
  • Le Hoang Thuy To Nguyen, Quyen

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.

Suggested Citation

  • Nguyen, Phong Thanh & Phu Pham, Cuong & Thanh Phan, Phuong & Bich Vu, Ngoc & Tien Ha Duong, My & Le Hoang Thuy To Nguyen, Quyen, 2020. "Exploring Critical Risk Factors of Office Building Projects," MPRA Paper 109901, University Library of Munich, Germany, revised 30 Dec 2020.
    • Handle: RePEc:pra:mprapa:109901
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/109901/1/MPRA_paper_109901.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Thanh NGUYEN, Phong & Le Hoang Thuy To NGUYEN, Quyen, 2020. "Critical Factors Affecting Construction Price Index: An Integrated Fuzzy Logic and Analytical Hierarchy Process," MPRA Paper 103437, University Library of Munich, Germany, revised 31 May 2020.
    2. Phong Thanh Nguyen, 2020. "Attitude of construction workers toward labour safety," International Journal of Business Continuity and Risk Management, Inderscience Enterprises Ltd, vol. 10(2/3), pages 181-193.
    3. Nguyen, Phong Thanh & Phu Nguyen, Cuong, 2019. "Risk Management in Engineering and Construction," MPRA Paper 103509, University Library of Munich, Germany, revised 09 Jan 2020.
    4. Thanh Nguyen, Phong, 2018. "Attitude of construction workers toward labour safety," MPRA Paper 103438, University Library of Munich, Germany, revised 27 Feb 2020.
    5. Dang Vo, Khoa & Thanh Nguyen, Phong & Le Hoang Thuy To Nguyen, Quyen, 2020. "Disputes in Managing Projects: A Case Study of Construction Industry in Vietnam," MPRA Paper 103436, University Library of Munich, Germany, revised 05 Jul 2020.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Katarina Buganova & Maria Luskova & Jozef Kubas & Michal Brutovsky & Jaroslav Slepecky, 2021. "Sustainability of Business through Project Risk Identification with Use of Expert Estimates," Sustainability, MDPI, vol. 13(11), pages 1-17, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ngo, Chin & Nguyen, Quyen Le Hoang Thuy To & Nguyen, Phong Thanh, 2020. "Social Capital and Corporate Performance: Evidence from State Capital Enterprises in Vietnam," MPRA Paper 103440, University Library of Munich, Germany, revised 18 Apr 2020.
    2. Thanh NGUYEN, Phong & Le Hoang Thuy To NGUYEN, Quyen, 2020. "Critical Factors Affecting Construction Price Index: An Integrated Fuzzy Logic and Analytical Hierarchy Process," MPRA Paper 103437, University Library of Munich, Germany, revised 31 May 2020.
    3. Tien Ha Duong, My & Van Nguyen, Diep & Thanh Nguyen, Phong, 2019. "Using Fuzzy Approach to Model Skill Shortage in Vietnam’s Labor Market in the Context of Industry 4.0," MPRA Paper 103512, University Library of Munich, Germany, revised 07 May 2020.
    4. Quang Tran, Phu & Thi Quynh Tran, Nhu & Nguyen, Phong Thanh, 2020. "Practical Solutions to Ensure the Schedule Management of Ho Chi Minh City Urban Railway Project in Vietnam: Survey of Expert's Opinions," MPRA Paper 103532, University Library of Munich, Germany, revised 28 Jun 2020.
    5. Hasan Mahmoud & Vian Ahmed & Salwa Beheiry, 2021. "Construction Cash Flow Risk Index," JRFM, MDPI, vol. 14(6), pages 1-17, June.
    6. Quoc Vu, Thong & Phu Pham, Cuong & Anh Nguyen, Thu & Thanh Nguyen, Phong & Thanh Phan, Phuong & Le Hoang Thuy To Nguyen, Quyen, 2020. "Factors Influencing Cost Overruns in Construction Projects of International Contractors in Vietnam," MPRA Paper 103435, University Library of Munich, Germany, revised 28 Jul 2020.
    7. Nguyen, Phong Thanh, 2020. "Application Machine Learning in Construction Management," MPRA Paper 109899, University Library of Munich, Germany, revised 01 Aug 2021.

    More about this item

    Keywords

    Construction Management; Office Buildings Projects; Risk Management; Project Management;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L74 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Construction
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:109901. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.