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Keywords = construction project risk management (CPRM)

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15 pages, 2159 KiB  
Article
Research for Risk Management of Construction Projects in Taiwan
by Chien-Liang Lin and Bey-Kun Chen
Sustainability 2021, 13(4), 2034; https://doi.org/10.3390/su13042034 - 13 Feb 2021
Cited by 9 | Viewed by 6379
Abstract
Risks inevitably exist in all stages of a project. In a construction project, which is highly dynamic and complex, risk factors affect the expected achievement rates of the three main performance goals, namely schedule, cost, and quality. A comprehensive risk management procedure requires [...] Read more.
Risks inevitably exist in all stages of a project. In a construction project, which is highly dynamic and complex, risk factors affect the expected achievement rates of the three main performance goals, namely schedule, cost, and quality. A comprehensive risk management procedure requires three crucial steps: risk confirmation, analysis, and treatment. Risk analysis is the core of risk management. Through structural equation modeling, this study developed a risk analysis model that takes a different perspective and considered the occurrence probability of risk events and the extent to which these events affect a project. The contractor dimension was discovered to exert the strongest influence on an overall project, followed by the subcontractor and design dimensions. This paper proposes a novel construction project risk analysis model, which considers the entire project. The proposed model can be used as a reference for risk managers to make decisions about project risks, so as to achieve the ultimate goal of saving resources and the sustainable operation of the construction project. Full article
(This article belongs to the Section Sustainable Management)
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