Risk Factors on Civil Engineering Projects

Abstract

The efficiency of the construction organization can be seen if the organization manages the encountered construction risks efficiently. The opportunity to increase efficiency and profitability in the construction industry is demonstrated by good risk management. The construction industry is well known for its risks and uncertainty, which can possibly have negative outcomes for the construction projects. This paper aims to identify the common risk factors in risk mitigation for civil engineering projects in Malaysia. Quantitative methodology which involved survey questionnaires were sent out to 250 respondents including Grade G7 contractors registered under the Construction Industry Board Malaysia, engineers, project managers, architects, quantity surveyors and others, with 47% responded. It appeared that construction delay, late payment by client, unavailability of funds, poor communication among construction parties and coordination of works among construction were the common risk factors in risk mitigation and have significant impacts on their projects. With extensive risk assessment procedures conducted and a rigorous process with regular meetings among all members of the team, it will keep track those changes and update the mitigation plan.