Risk identification and allocation in underground rail construction joint ventures: contractors’ perspective
International construction joint ventures (ICJVs) have been widely used in large-scale infrastructure projects all over the world. This study aims to investigate the factors affecting adoption of ICJVs for underground rail construction projects, to identify the critical risks faced by parties that...
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| Format: | Article |
| Language: | English |
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Vilnius Gediminas Technical University
2016-06-01
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| Series: | Journal of Civil Engineering and Management |
| Subjects: | |
| Online Access: | http://journals.vgtu.lt/index.php/JCEM/article/view/1874 |
| _version_ | 1818878853277286400 |
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| author | Bon-Gang Hwang Xianbo Zhao Gwendolyn Shiyu Yu |
| author_facet | Bon-Gang Hwang Xianbo Zhao Gwendolyn Shiyu Yu |
| author_sort | Bon-Gang Hwang |
| collection | DOAJ |
| description | International construction joint ventures (ICJVs) have been widely used in large-scale infrastructure projects all over the world. This study aims to investigate the factors affecting adoption of ICJVs for underground rail construction projects, to identify the critical risks faced by parties that perform the projects under ICJVs, and to examine the obstacles to appropriate risk allocation among the parties under ICJVs. To achieve these objectives, an in-depth literature review was carried out and a questionnaire survey was conducted with 33 contractor firms as well. The survey results reported “sharing of project risks” as the top attractive factor of ICJVs and “differences in culture and working style” as the top negative factor. In addition, both foreign and local contractors considered “partners disagree over some conditions in contract” the most critical risk to the parties involving projects under ICJVs. While risk allocation was perceived to be very important for ICJVs, “unclear division of responsibilities and risks” and “differences in culture and working styles” could be the most significant obstacles against effective risk allocation among the parties. The findings from this study will help improve the implementation of ICJVs and provide valuable information for organizations who intend to participate in ICJVs in Singapore. |
| first_indexed | 2024-12-19T14:20:47Z |
| format | Article |
| id | doaj.art-69c1196eb6934618a24a6940af6e8ed7 |
| institution | Directory Open Access Journal |
| issn | 1392-3730 1822-3605 |
| language | English |
| last_indexed | 2024-12-19T14:20:47Z |
| publishDate | 2016-06-01 |
| publisher | Vilnius Gediminas Technical University |
| record_format | Article |
| series | Journal of Civil Engineering and Management |
| spelling | doaj.art-69c1196eb6934618a24a6940af6e8ed72022-12-21T20:17:47ZengVilnius Gediminas Technical UniversityJournal of Civil Engineering and Management1392-37301822-36052016-06-0122610.3846/13923730.2014.914095Risk identification and allocation in underground rail construction joint ventures: contractors’ perspectiveBon-Gang Hwang0Xianbo Zhao1Gwendolyn Shiyu Yu2Department of Building, National University of Singapore, 117566, SingaporeSchool of Engineering and Technology, Central Queensland University, Sydney, NSW 2000, AustraliaKPK Quantity Surveyor (Singapore) Pte. Ltd., 437844, SingaporeInternational construction joint ventures (ICJVs) have been widely used in large-scale infrastructure projects all over the world. This study aims to investigate the factors affecting adoption of ICJVs for underground rail construction projects, to identify the critical risks faced by parties that perform the projects under ICJVs, and to examine the obstacles to appropriate risk allocation among the parties under ICJVs. To achieve these objectives, an in-depth literature review was carried out and a questionnaire survey was conducted with 33 contractor firms as well. The survey results reported “sharing of project risks” as the top attractive factor of ICJVs and “differences in culture and working style” as the top negative factor. In addition, both foreign and local contractors considered “partners disagree over some conditions in contract” the most critical risk to the parties involving projects under ICJVs. While risk allocation was perceived to be very important for ICJVs, “unclear division of responsibilities and risks” and “differences in culture and working styles” could be the most significant obstacles against effective risk allocation among the parties. The findings from this study will help improve the implementation of ICJVs and provide valuable information for organizations who intend to participate in ICJVs in Singapore.http://journals.vgtu.lt/index.php/JCEM/article/view/1874joint ventureunderground railrisk identificationrisk allocationSingapore |
| spellingShingle | Bon-Gang Hwang Xianbo Zhao Gwendolyn Shiyu Yu Risk identification and allocation in underground rail construction joint ventures: contractors’ perspective Journal of Civil Engineering and Management joint venture underground rail risk identification risk allocation Singapore |
| title | Risk identification and allocation in underground rail construction joint ventures: contractors’ perspective |
| title_full | Risk identification and allocation in underground rail construction joint ventures: contractors’ perspective |
| title_fullStr | Risk identification and allocation in underground rail construction joint ventures: contractors’ perspective |
| title_full_unstemmed | Risk identification and allocation in underground rail construction joint ventures: contractors’ perspective |
| title_short | Risk identification and allocation in underground rail construction joint ventures: contractors’ perspective |
| title_sort | risk identification and allocation in underground rail construction joint ventures contractors perspective |
| topic | joint venture underground rail risk identification risk allocation Singapore |
| url | http://journals.vgtu.lt/index.php/JCEM/article/view/1874 |
| work_keys_str_mv | AT bonganghwang riskidentificationandallocationinundergroundrailconstructionjointventurescontractorsperspective AT xianbozhao riskidentificationandallocationinundergroundrailconstructionjointventurescontractorsperspective AT gwendolynshiyuyu riskidentificationandallocationinundergroundrailconstructionjointventurescontractorsperspective |