Risk management strategy of construction projects in China

2.50
Hdl Handle:
http://hdl.handle.net/10547/338912
Title:
Risk management strategy of construction projects in China
Authors:
Yan, Changjun
Abstract:
Embarking on a construction project means taking a risk. Project risk management (PRM) provides an effective approach to improve decision making and minimise project risk. Project risks may not possess the same level of significance for different countries, markets and projects. Current research on PRM in China has been rather theoretical, addressing technology issues. Considering the current practice in the Chinese construction industry (CCl), the PRM needs understanding and support from the industry and a mature market environment. This research aims to establish PRM strategies for identifying and adopting the best practice to provide practical guidelines for the CCl, thus improving the PRM, motivating the reform of the Chinese construction market, and enabling the CCl to function in the competitive environment of globalisation. An extensive literature review and a number of case studies for construction projects in China have been conducted, addressing issues closely related to the research. A systematic analysis is employed and developed for project planning and decision making. Contractual risks are considered as the first step and catalyst for improving the PRM in the CCl. Built on the findings from the case studies and analysis, the research puts forward a framework of contractual risk management to study the concept, identification and classification of contractual risks. Contract interfaces are analysed for contractual risk management under various project procurement routes (PPRs). The potentially large improvements to the PRM and reform of the Chinese construction market from the introduction and application of innovative PPRs and their contractual conditions are addressed. Two mathematical models -a probabilistic analysis model and an effective information entropy model for key contractual risks -are presented. The validity and applicability of the models are demonstrated with sample data for the CCl. Detailed recommendations and guidelines for the implementation of the proposed strategies are suggested.
Citation:
Yan, C. (2006) 'Risk management strategy of construction projects in China'. PhD thesis. University of Bedfordshire.
Publisher:
University of Bedfordshire
Issue Date:
Nov-2006
URI:
http://hdl.handle.net/10547/338912
Type:
Thesis or dissertation
Language:
en
Description:
A thesis submitted to the University of Bedfordshire, in partial fulfilment of the requirements for the degree of Doctor of Philosophy
Appears in Collections:
PhD e-theses

Full metadata record

DC FieldValue Language
dc.contributor.authorYan, Changjunen
dc.date.accessioned2015-01-27T14:02:13Z-
dc.date.available2015-01-27T14:02:13Z-
dc.date.issued2006-11-
dc.identifier.citationYan, C. (2006) 'Risk management strategy of construction projects in China'. PhD thesis. University of Bedfordshire.en
dc.identifier.urihttp://hdl.handle.net/10547/338912-
dc.descriptionA thesis submitted to the University of Bedfordshire, in partial fulfilment of the requirements for the degree of Doctor of Philosophyen
dc.description.abstractEmbarking on a construction project means taking a risk. Project risk management (PRM) provides an effective approach to improve decision making and minimise project risk. Project risks may not possess the same level of significance for different countries, markets and projects. Current research on PRM in China has been rather theoretical, addressing technology issues. Considering the current practice in the Chinese construction industry (CCl), the PRM needs understanding and support from the industry and a mature market environment. This research aims to establish PRM strategies for identifying and adopting the best practice to provide practical guidelines for the CCl, thus improving the PRM, motivating the reform of the Chinese construction market, and enabling the CCl to function in the competitive environment of globalisation. An extensive literature review and a number of case studies for construction projects in China have been conducted, addressing issues closely related to the research. A systematic analysis is employed and developed for project planning and decision making. Contractual risks are considered as the first step and catalyst for improving the PRM in the CCl. Built on the findings from the case studies and analysis, the research puts forward a framework of contractual risk management to study the concept, identification and classification of contractual risks. Contract interfaces are analysed for contractual risk management under various project procurement routes (PPRs). The potentially large improvements to the PRM and reform of the Chinese construction market from the introduction and application of innovative PPRs and their contractual conditions are addressed. Two mathematical models -a probabilistic analysis model and an effective information entropy model for key contractual risks -are presented. The validity and applicability of the models are demonstrated with sample data for the CCl. Detailed recommendations and guidelines for the implementation of the proposed strategies are suggested.en
dc.language.isoenen
dc.publisherUniversity of Bedfordshireen
dc.subjectN213 Project Managementen
dc.subjectrisk managementen
dc.subjectconstruction projecten
dc.subjectChinaen
dc.subjectconstruction industryen
dc.subjectproject risk managementen
dc.titleRisk management strategy of construction projects in Chinaen
dc.typeThesis or dissertationen
dc.type.qualificationnamePhDen_GB
dc.type.qualificationlevelPhDen
dc.publisher.institutionUniversity of Bedfordshireen
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