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http://dx.doi.org/10.13106/jafeb.2020.vol7.no11.347

Risk Factors Affecting Equipment Management in Construction Firms  

PHAM, Cuong Phu (Faculty of Transport and Economics, Campus in Ho Chi Minh City, University of Transport and Communications)
NGUYEN, Phong Thanh (Department of Project Management, Ho Chi Minh City Open University)
PHAN, Phuong Thanh (Department of Project Management, Ho Chi Minh City Open University)
NGUYEN, Quyen Le Hoang Thuy To (Office of Cooperation and Research Management, Ho Chi Minh City Open University)
LE, Loan Phuc (School of Advanced Study, Ho Chi Minh City Open University)
DUONG, My Tien Ha (Faculty of Economics and Public Management, Ho Chi Minh City Open University)
Publication Information
The Journal of Asian Finance, Economics and Business / v.7, no.11, 2020 , pp. 347-356 More about this Journal
Abstract
Mechanization and automation constitute an essential stage in the production and operation of any company, as one of the determinants of increase in labor productivity and decrease in product price, while significantly contributing to shortening of the lead time. Businesses are, therefore, able to quickly put projects into operation, improving economic efficiency, quality, and aesthetics, which speeds up the national economic growth. For the construction industry to be the most effective, modern construction equipment is a necessity. It is one of the five main resources of a construction project. Thus, effective construction equipment management contributes to the success of a project and benefits the relevant construction companies economically. This paper presents the critical risk factors affecting equipment management and proposes suitable solutions. The questionnaire-based survey with experienced experts in the construction sector on the management of the likelihood and consequence of risk factors revealed thirty-two risks for equipment management in construction companies. These factors fell into six groups: (i) site organization-related risks; (ii) management-related risks; (iii) owner-related risks; (iv) supplier-related risks; (v) legal risks, and (vi) site condition-related and external risks. The results showed that management-related factors contributed to the most significant risks and problems for equipment management in construction companies.
Keywords
Construction Company; Equipment Management; Risk Management; Project Management;
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Times Cited By KSCI : 10  (Citation Analysis)
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