Risk management in G7 construction company

Abstract

Construction projects are full with complexity and uncertainties that coming from various sources. Generally, all industry is involved with risk and it is the concern for the construction company. In construction industry, it is emphasis to implement risk management to minimize the risk in the projects. The objectives of this study are to study and analyzing the risk management in G7 construction company, to identify the primary risk considered by the contractor before participating in construction bidding and to examine the mitigation measures to manage each category of risk. This study was carried out in Perlis, Kedah and Pulau Pinang and involved G7 construction company registered with CIDB. This study was carried out through the questionnaire survey. A total of 50 questionnaires survey has been distributed and 40 questionnaires were returned answered completely and the data was evaluated using the Average Index. From the study, it was found that the types of risk considered by the contractors are due to increasing price for materials, delay in progress payment, and lack of detailed in design. The mitigation measure taken is by improving communication with other team members throughout the project life cycle.