Adopting Contractors’ Risk Management (CIRIM) Framework using Multi Dimensional Theories
AbstractIn general, many contractors in Malaysia are found to have a limited expertise in developing an appropriate strategy to mitigate project risks. Consequently, this has led contractors struggling to complete the project on schedule, within the client’s budget and quality parameters. This was proven by the current issues on the delayed projects reported in the Ninth Malaysian Plan. Currently in Malaysia, there is no existing risk management framework specifically designed for contractors. Thus, the idea of introducing CIRIM among the Malaysian contractors is a proactive approach to achieve better project objectives. This paper therefore proposes to introduce the CIRIM framework to be adopted by the Malaysian contractors. The research methodology applied in the main research includes literature reviews, questionnaires and interviews. It is found that although there are some forms of risk management systems being used in the Malaysian construction industry, most of them are not well structured, documented and implemented in a formal manner. Therefore, the idea of establishing the CIRIM framework among Malaysian contractors is paramount and justified.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 33877.
Date of creation: 25 Sep 2011
Date of revision:
Keywords: Risk Management; Contractors; CIRIM; Construction; Malaysia;
Find related papers by JEL classification:
- N6 - Economic History - - Manufacturing and Construction
- L7 - Industrial Organization - - Industry Studies: Primary Products and Construction
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-10-15 (All new papers)
- NEP-PPM-2011-10-15 (Project, Program & Portfolio Management)
- NEP-SEA-2011-10-15 (South East Asia)
You can help add them by filling out this form.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht).
If references are entirely missing, you can add them using this form.