• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.309-315
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• 2021

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.

• Safety and Health at Work
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• v.9 no.1
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• pp.115-124
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• 2018

Background: Substantial empirical research has shown conflicting results regarding the influence of organizational external factors on construction risk management, suggesting the necessity to introduce a moderator into the study. The present research confirmed whether rules and regulations matter on the relationships between organizational external factors and construction risk management. Methods: Based on discouragement and organizational control theory, this research examined the effects of organizational external factors and rules and regulations on construction risk management among 238 employees operating in construction companies in Abuja and Lagos, Nigeria. A personally administered questionnaire was used to acquire the data. The data were analyzed using partial least squares structural equation modeling. Results: A significant positive relationship between organizational external factors and construction risk management was asserted. This study also found a significant positive relationship between rules and regulations and construction risk management. As anticipated, rules and regulations were found to moderate the relationship between organizational external factors and construction risk management, with a significant positive result. Similarly, a significant interaction effect was also found between rules and regulations and organizational external factors. Implications of the research from a Nigerian point of view have also been discussed. Conclusion: Political, economy, and technology factors helped the construction companies to reduce the chance of risk occurrence during the construction activities. Rules and regulations also helped to lessen the rate of accidents involving construction workers as well as the duration of the projects. Similarly, the influence of the organizational external factors with rules and regulations on construction risk management has proven that most of the construction companies that implement the aforementioned factors have the chance to deliver their projects within the stipulated time, cost, and qualities, which can be used as a yardstick to measure a good project.

• Journal of Information Technology Applications and Management
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• v.21 no.4
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• pp.173-186
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• 2014

This study outlines possible risk factors in the SCM of a company and correlates risk assessment, the strategy of risk management, and the supply chain performance. The data is surveyed from an international Korean company and is analyzed by the structure equation model of actual proof. The research model verifies the correlation between the risk assessment, the strategy of risk management, and the supply chain performance as dependent variables after the risk factors of the SCM are defined as independent variables. The research shows that there are consecutive links among the risk factors of the SCM, the risk assessment, and the strategy of risk management. The strategy of risk management was conclusively determined to have an effect on supply chain performance. Therefore, improving the supply chain performance of a company requires the constructive process for risk management based on a correlation between risk assessment and the strategy of risk management.

• Korean Management Science Review
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• v.15 no.2
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• pp.211-227
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• 1998

The process of implementing risk management systems for the organizations in financial service industry can be viewed as a diffusion of innovation since the introduction of the risk management systems changes the decision making process on risks faced by the organizations. The purpose of the reported research is to examine the factors that affect the successful implementation of ALM(asset & liability management) systems, the risk management systems managing interest rate risk. Specifically, this paper presents an investigation of three factors from the diffusion of innovation studies; internal factors, external factors, and time. A field survey was conducted for Korean banks that have implemented ALM systems. The results suggest that the perceived uncertainty of market, system supports, and management supports be most significantly related to the successful implementation of the risk management systems. The findings of the current study also suggest a certain amount of time should be passed to diffuse the risk management systems in organizations.

• Journal of Korean Society for Quality Management
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• v.41 no.2
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• pp.221-232
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• 2013

Purpose: This paper examines risk factors which affect project success, and proposes a method utilizing the average potential satisfaction index(API) to evaluate how much the satisfaction level of the personnel involved in the project can change by reducing the risk. Methods: The current study derives 11 risk factors affecting project success from literature review and conducts survey of 253 subjects who have project work experience. A modified Kano's questionnaire using 5-point Likert-scale is applied to investigate the amount of satisfaction or dissatisfaction when the risk factors are reducted or not, respectively. Results: The respondents consider that the risk factors which include the three elements of project management(schedule, quality, cost) is more important than other risk factors related to the project environment, and technology and profitability. Conclusion: The average potential satisfaction index proposed in this study can measure the perception on the risk factors of the personnel involved in the project, since it has a strong correlation with the perceived importance by the respondents in this study.

• Asia pacific journal of information systems
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• v.16 no.3
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• pp.143-158
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• 2006

Identifying risk factors in software risk management is imperative for project managers. The purpose of this paper is to provide software project risk factors validated by statistical analysis, and thus to help project managers alleviating the possibility of software project failure. Factor analysis with data collected from 264 Korean project managers and consultants identified 12 categories and 46 risk factors. T-test results showed that project managers and participants had statistically different perception on 3 risk factors among those 46 risk factors. We concluded by discussing implications of our findings and future research directions.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1231-1236
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• 2009

Many work-related risk factors can cause construction site hazards. Therefore, safety management begins with measuring the magnitude of risk involved in a project. This study proposes a methodology for risk assessment of major trades at a particular construction site. To assess risk, this methodology integrates hazard severity and frequency, and their magnitude is calculated based on actual work-site hazards. This methodology also considers the influence factors that affect the frequency of work-related hazards. To select the appropriate influence factors, a two step approach is deployed. First, the predominant factors are identified through a literature review. Second, a selective process filters out the influence factors that are difficult to analyze quantitatively, and these extracted factors are weighted using expert surveys. Finally, the factors are combined and a quantitative risk assessment methodology is proposed.

• Journal of Information Technology Applications and Management
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• v.14 no.3
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• pp.79-94
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• 2007

Cases of botched information systems implementation have been surfaced due to poor IS project management and control. One major source of such failures is the perceptual difference between the participants of IS projects who should define potential risk factors well before considered IS projects are launched. Based on risk factors cited from prior works, this paper empirically examines the risk factors associated with IS service project management to analyze perceptual differences between the IS service providers and customers in Korea. Data analyses found significant differences in the area of scheduling/resource, technological newness, communications, and sponsorship/ownership while statistically significant differences were observed in eleven individual factors out of forty six risk factors. Risk factors are also ordered in terms of perceived importance to highlight the critical differences.

• Journal of Information Technology Applications and Management
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• v.11 no.4
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• pp.103-120
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• 2004

Identifying validated risk factors in software risk management is imperative for project managers. Although validated risk lists were provided by previous researchers, risk list associated with software project performance areas was not provided as yet. This paper represents a first step toward understanding risk lists by various project performance areas (time, cost, and quality) to help project managers alleviating the possibility of software project failure. Four simultaneous exploratory surveys were conducted with 29 experienced software project managers. Three different risk factor ranking sets for each project performance area were compared with, the risk ranking, which was provided without clarifying specific project performance areas. The risk lists and their corresponding perceived importance were different from previous research results. This implies that identifying risk factors for specific project performance areas can provide additional information for project managers. We concluded by discussing implications of our finds for both research and improving risk management practice.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1364-1369
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• 2009

The building construction projects include a variety of risk factors due to uncertainties. To succeed in the projects, it is important how risks are managed. Risk management is composed of identification, analysis and response. Especially, the risk analysis is important to objectively calculate significance of risk factors. This paper evaluates a method to find priorities of risks using the AHP(Analytic Hierarchy Process). The method has some defects; (1) the consistency becomes weak as the number of pair-wise compared risks is large, and (2) the input and output procedures are complex when risks are added to or removed from a risk database. Thus the paper adopt the PROMETHEE(Preference Ranking Organization METHod Enrichment Evaluations) analysis process which is able to overcome the limitation of the AHP restricted to 9 risk factors. The PROMETHEE method makes the procedure of risk analysis simple, when the risk factors pull out and put in the risk database. The purpose of this study is to prove the possibility of the PROMETHEE analysis process by being compared with AHP.