A study of risks and risk management practice in oil and gas construction projects in Vietnam | |
| Author | Nguyen Van Thuyet |
| Call Number | AIT Thesis no.ST-03-60 |
| Subject(s) | Risk management--Vietnam Construction industry--Vietnam |
| Note | A thesis submitted in partial fulfillment of the requirements for the degree of Master of Engineering, School of Engineering and Technology |
| Publisher | Asian Institute of Technology |
| Series Statement | Thesis ; no. ST-03-60 |
| Abstract | In developing countries, including Vietnam, oil and gas construction projects are highly exposed to various risks, causing time and cost overruns as well as poor quality. This raises an urgent need to examine risks as well as to assess risk management practice for managing risks better. This research focuses on the identification of the major risks that projects in Vietnam encounter. Some appropriate strategies are then proposed to mitigate these risks. The research also emphasized on the assessment of risk management practice to find out the difficulties in applying risk management, which are the lessons learned for companies who are going to implement risk management successfully in their businesses. The major risks identified are (1) Bureaucratic government system and long project approval procedure; (2) Poor design; (3) Incompetence of project team; (4) Inadequate tendering; (5) Late internal approval process from the owner. Main difficulties encountered in risk management practice are (1) lack of qualified experts, this is major obstacle in doing risk management in Vietnam; (2) lack of historical data on risks; (3) Complexity of tools and techniques in risk analysis; and ( 4) lack of cooperation of contractors in risk response and risk monitoring and control. The above findings are very important since the research is the initial one in the risk area. It becomes more important especially in view of today's emerging trend of risk management application in organizations. |
| Year | 2003 |
| Corresponding Series Added Entry | Asian Institute of Technology. Thesis ; no. ST-03-60 |
| Type | Thesis |
| School | School of Engineering and Technology |
| Department | Department of Civil and Infrastucture Engineering (DCIE) |
| Academic Program/FoS | Structural Engineering (STE) /Former Name = Structural Engineering and Construction (ST) |
| Chairperson(s) | Ogunlana, Stephen O.; |
| Examination Committee(s) | Chotchai Charoenngam;Pham Huy Giao; |
| Scholarship Donor(s) | Vietnam Oil and Gas Corporation (PETRO VIETNAM); |
| Degree | Thesis (M.Eng.) - Asian Institute of Technology, 2003 |