Application of Risk Significance Index Score to Construction Projects in Malaysia

Abstract:

Risk management is one of the most important areas in project management particularly in the construction industry. However it is not possible to analyze all of the potential risks as it will require too much time and effort. Therefore in order to identify and analyze the significant risks, the risks should be categorized and ranked. This research applied the concept of risk significance index score to construction projects in Malaysia. A comprehensive list of 40-potential risks has been developed through literature review and an interview survey. A questionnaire survey was conducted to produce project risk significance index score for the risks. The ranks of the risks have been identified and solutions for the significant risks have been produced through interviews. This research proves the practical use of risk significance index score for construction projects in Malaysia.

• Periodical: Advanced Materials Research (Volumes 838-841)
• Pages: 3102-3108
• DOI: https://doi.org/10.4028/www.scientific.net/AMR.838-841.3102
• Online since: November 2013
• Authors: Boon Hoe Goh, Byung Gyoo Kang*, Chung Lian Liew, Wee Kang Choong, Tuck Wai Yeong
• Keywords: Construction, Project, Risk, Score

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