Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/226786
Title: PREFABRICATED PREFINISHED VOLUMETRIC CONSTRUCTION: RISKS AND RISK MANAGEMENT STRATEGIES FOR PROJECT PERFORMANCE
Authors: LIM MINGHAN JUSTIN
Keywords: Prefinished Prefabricated Volumetric Construction
Project Performance Risks
Risk Mitigation
Risk Management Implementation
Issue Date: 2022
Citation: LIM MINGHAN JUSTIN (2022). PREFABRICATED PREFINISHED VOLUMETRIC CONSTRUCTION: RISKS AND RISK MANAGEMENT STRATEGIES FOR PROJECT PERFORMANCE. ScholarBank@NUS Repository.
Abstract: Prefinished Prefabricated Volumetric Construction (PPVC) is one of the key strategies under the Design for Manufacturing and Assembly (DfMA) approach to improve the productivity of the local construction industry. PPVC is a form of modular construction that is gaining traction due to the benefits it can offer, as well as regulatory initiatives that mandates the use of PPVC for certain government projects or Government Land Sales (GLS) sites. However, PPVC is also known for a variety of drawbacks such as the high upfront capital required and the high degree of coordination between project stakeholders. With the increasing demand of PPVC projects, this research aims to investigate the risks involved in such projects and how it affects project performance. With greater awareness of the risks involved in PPVC projects, construction firms are better positioned in reducing or eliminating risks and safeguarding project performance. A comprehensive literature review was conducted to identify cost, schedule and quality risk factors associated with PPVC projects, risk mitigation strategies to manage the risks and factors affecting risk management implementation. The identified risk factors, mitigation strategies and factors influencing risk management implementation from various forms of literature were extracted to form consolidated lists. Interviews were then conducted with industry professionals to validate the findings and identify variables relevant to this research study. Subsequently, a survey questionnaire was sent out to construction industry professionals to gather insights for further analysis. A total of 47 valid responses were collected and the Shapiro-Wilk test was conducted to ascertain whether the data sets were normally distributed. Relevant parametric and non-parametric tests were utilized for the analysis of this research. Moreover, risk factors were investigated based on the 5x5 risk matrix where each risk is given a likelihood and severity score. On the other hand, risk management strategies were analyzed based on the ease of implementation and effectiveness. Finally, post-survey interviews were carried out to validate the findings from the data analyzed. From the analysis, the top three risks associated with PPVC projects are: (1) Volatile Economic and Social Conditions, (2) Poor Jointing and (3) Delay in Module Delivery or Transportation. The top three risk mitigation strategies were found to be: (1) Building Information Modelling, (2) Increase in Supervision during the Manufacturing Process and (3) Government Grants. Finally, the top three factors influencing successful risk management implementation are: (1) Extent of Quality Controls during the Manufacturing Process, (2) Level of Cooperation Between Project Stakeholders and (3) Support from Upper Management. The findings provide an extensive study on the risk management of PPVC project in the context of Singapore and may reduce take-up hesitancy for firms who have yet to invest in PPVC technology.
URI: https://scholarbank.nus.edu.sg/handle/10635/226786
Appears in Collections:Bachelor's Theses

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