Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/221477
Title: RISK MANAGEMENT FOR SMALL CONSTRUCTION PROJECTS IN SINGAPORE: STATUS, IMPORTANCE AND IMPACT
Authors: TOH LI PING
Keywords: Building
Project and Facilities Management
Hwang Bon Gang
2011/2012 PFM
Issue Date: 11-Jun-2012
Citation: TOH LI PING (2012-06-11). RISK MANAGEMENT FOR SMALL CONSTRUCTION PROJECTS IN SINGAPORE: STATUS, IMPORTANCE AND IMPACT. ScholarBank@NUS Repository.
Abstract: Risk management (RM) is one of the most important bodies of knowledge that would greatly affect the success of a project. However, due to time and cost constraints, RM is usually not the main priority in the construction industry. The driving force behind this study is due to the current lack of research relating to RM of small and medium contractors (SMC) and small projects in Singapore. This study aims to encourage more small and medium project practitioners to implement RM into their projects in an attempt to achieve better cost, time and quality performance. Perspectives of consultants engaged in small projects and SMCs were analysed. More specifically the objectives of this study are (1) to determine the status and importance of RM for small projects; (2) to identify barriers towards RM for small projects; (3) to determine the impacts of RM on project performance parameters and finally (4) to recommend measures to improve RM implementation for small projects. A survey was conducted among 34 companies to determine the implementation status of RM and also explore the barriers and benefits relating to RM implementation for small projects in Singapore. Furthermore, the impacts of RM on project performance were also examined. The results concluded that the implementation status of RM for small projects in the Singapore construction industry is low despite the knowledge that RM would be beneficial to overall project success. Recognising the implementation status, importance and impact of RM will be stepping stone to improve the project performance for small projects, thereby ensuring success in the construction industry in Singapore.
URI: https://scholarbank.nus.edu.sg/handle/10635/221477
Appears in Collections:Bachelor's Theses

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