Assessment of contractor’s contract risks : a case study of a building project in Ho Chi Minh | |
| Author | Nguyen Viet Toan |
| Call Number | AIT Proj. no.MPM-CM-22-07 |
| Subject(s) | Contractors--Vietnam--Management Construction contracts--Vietnam Contracts--Risk management |
| Note | A project submitted in partial fulfillment of the requirements for the degree of Master of Engineering (Professional) in Construction Engineering and Infrastructure Management |
| Publisher | Asian Institute of Technology |
| Abstract | Contract risk management provides support for attempts to gain better control over a project when it comes to time (planning or schedules), money (estimates), quality, information, and organization. It does this by giving thought beforehand to the undesirable future events or outcomes that might occur in a project, so that decisions may be made to take actions early on in order to prevent or reduce the impact of these events. Before looking at the contractual risk between the Contractor and the Employer, as well as the contractual risk between the Contractor and Subcontractor/Supplier in the case of an MCP project, the report will be expanded to include an in-depth study of the theory of contract condition and risk in construction. Following the completion of this type of analysis, both the strengths and weaknesses of the contractor's contractual risks will be carefully assessed, after which recommendations and lessons learned will be developed. When it comes to the management of contractual risk, using a basic strategy that is based on facts and probability is recommended. Managing risk involves nothing more than identifying perceived risks to the project executive and figuring out how to avoid or mitigate those risks while inflicting as little damage as possible on the endeavor. In professional project management, the process of recognizing and analyzing potential risks is followed by many effective responses known as the 4Ts of managing risks. These responses consist of tolerating, terminating, treating, and transferring the risk. |
| Year | 2022 |
| Type | Project |
| School | School of Engineering and Technology (SET) |
| Department | Department of Civil and Infrastucture Engineering (DCIE) |
| Academic Program/FoS | Construction Engineering and Infrastructure Management (Professional Master) (MPM-CM) |
| Chairperson(s) | Hadikusumo, Bonaventura H. W. |
| Examination Committee(s) | Chotchai Charoenngam;Sakul Pochanart |
| Degree | Project (M. Eng.) - Asian Institute of Technology, 2022 |