1. IDENTIFYING ENVIRONMENTAL RISK IN CONSTRUCTION PROJECTS IN MALAYSIA: STAKEHOLDER PERSPECTIVE.
- Author
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OMRAN, Abdelnaser, MohdSHAFIE, Mohd Wira, and KULAIB, Hadiel Mustafa Osman
- Subjects
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ENVIRONMENTAL risk , *STAKEHOLDERS , *EXECUTIVES , *PROBABILITY theory - Abstract
Construction projects are unique and face many different types of risks even though every business endeavor is known to contain risks, construction related risks are unique. There are two major categories of risks faced by any construction project; they include internal and external environment risk. This study was carried out to identify the construction environment risks facing construction projects. A questionnaire survey was conducted where 70 questionnaires were sent out and only 24 were of them were returned, yielding a response rate of 60%. However, questionnaires were for non-compliance and 31 were analyzed. This paper was attempted to identify the environment related risk in the construction projects, and rank the environment risks according to their significance in relation to project objectives. In addition, it intended to measure the use of risk management in construction companies. A questionnaire survey was carried out to get the opinions of stakeholders with regards to ranking of factors, and use of risk management. As results, it was found that there were 10 construction environment risks, and the three most ranked significant factors according to the analyzed results were 'variation by client', 'tight schedules' and 'lack of enough trained professional managers'. In measuring the use of risk management, 61.3% of construction companies surveyed were found to apply risk management and this helped them in improving their business profits while those who did not apply risk management had lower profits. As conclusion, professionals in the industry should provide effective leadership through the proper identification and management of construction. [ABSTRACT FROM AUTHOR]
- Published
- 2015