Risk identification for international joint venture construction projects.

Misbah Jamil; Nadeem Ahmad Mufti; Ammad Hassan Khan

Author(s)

Misbah Jamil Department of Architectural Engineering & Design, University of Engineering & Technology, Lahore, Pakistan

Nadeem Ahmad Mufti Department of Industrial and Manufacturing Engineering, University of Engineering and Technology, Lahore, Pakistan

Ammad Hassan Khan Department of Civil Engineering, University of Engineering and Technology, Lahore, Pakistan

Abstract

Risk identification is very important for all construction projects and its importance become significant on international level especially in multicultural environment. It includes identification of risks and probable impact of these identified risks in construction projects. It plays a vital role for successful project delivery and increase efficiency and profitability of construction projects. New opportunities are continuously emerging as a result of globalization in construction sector to have projects internationally. Joint venture construction projects are now very common which results in increased organizational exposure to worldwide business market. Risks in international construction projects are more critical as compared to domestic projects. And they become more critical when developing countries like Pakistan involved in international joint venture construction projects. That’s why it is desirable for construction firms in Pakistan to identify the risks and find probable impact of these risks as early as possible, so that suitable strategies are made before actual execution of project on international level. Objective of this paper is to identify risks and find the impact of these risks in international construction joint ventures. This paper presents the findings of survey conducted through questionnaire, to identify the risks significant for international construction projects and impact of these risks as perceived by stakeholders involved including; clients, consultants and contractors. In addition it includes meaningful recommendations and conclusions.

Publication Details

Page(s) 291-301

DOI DOI not available

Published Journal: Proceedings of International Conference on Construction in Developing Countries , Volume: 4, Issue: 5, Year: 2008

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