Construction companies face threats from competition and must be able to adjust to modem technology and changes in customer expectations. These issues require efficient risk management techniques. The success of const...Construction companies face threats from competition and must be able to adjust to modem technology and changes in customer expectations. These issues require efficient risk management techniques. The success of construction companies running projects in international markets depends on how the risks arise from the host country conditions as well as the project specific risk factors. Successful management of risks requires identification of risks, construction of a risk model which can be used to assess the magnitude of risks, and implementation of response strategies so that an acceptable risk-return balance can be achieved. The project success usually depends on the combination of all risks, response strategies used to mitigate risks, and a company＇s ability to manage them. There exists a need to develop risk models containing the risks of doing business in international markets and factors that affect manageability of these risks. One of the market＇s critical challenges is scheduled management and the understanding and application of program management. This paper uses systematic risk identification, classification and analysis, and measurement and response methodologies to help international contractors quantify the risks of project development and accomplishment.展开更多
This paper addresses a research question on why construction companies fail in their business. Starting with the concept of growth and capacity underinvestment archetype, a new and operational systems thinking model i...This paper addresses a research question on why construction companies fail in their business. Starting with the concept of growth and capacity underinvestment archetype, a new and operational systems thinking model is developed. The conceptual systems thinking model includes a set of causal structure that can explain various modes(including the growth and failure modes) of business performance of small and medium construction companies. Mainly the three components – projects,finance and capacity – and the understanding of their nexus(or causal inter-relationships) are found to be sufficient to reveal different performance modes in construction business. Further, the three operational aspects, namely, the business growth or decline process;the situation of financial and other capacity resource consumption; and the management of projects, finance and other capacity resources have been identified as the interrelated core and integral aspects of construction business.The three inter-related core aspects could actually include and explain different possible range of business situations,policies and practices in a construction company.展开更多
文摘Construction companies face threats from competition and must be able to adjust to modem technology and changes in customer expectations. These issues require efficient risk management techniques. The success of construction companies running projects in international markets depends on how the risks arise from the host country conditions as well as the project specific risk factors. Successful management of risks requires identification of risks, construction of a risk model which can be used to assess the magnitude of risks, and implementation of response strategies so that an acceptable risk-return balance can be achieved. The project success usually depends on the combination of all risks, response strategies used to mitigate risks, and a company＇s ability to manage them. There exists a need to develop risk models containing the risks of doing business in international markets and factors that affect manageability of these risks. One of the market＇s critical challenges is scheduled management and the understanding and application of program management. This paper uses systematic risk identification, classification and analysis, and measurement and response methodologies to help international contractors quantify the risks of project development and accomplishment.
文摘This paper addresses a research question on why construction companies fail in their business. Starting with the concept of growth and capacity underinvestment archetype, a new and operational systems thinking model is developed. The conceptual systems thinking model includes a set of causal structure that can explain various modes(including the growth and failure modes) of business performance of small and medium construction companies. Mainly the three components – projects,finance and capacity – and the understanding of their nexus(or causal inter-relationships) are found to be sufficient to reveal different performance modes in construction business. Further, the three operational aspects, namely, the business growth or decline process;the situation of financial and other capacity resource consumption; and the management of projects, finance and other capacity resources have been identified as the interrelated core and integral aspects of construction business.The three inter-related core aspects could actually include and explain different possible range of business situations,policies and practices in a construction company.
