| Title |
A Comparative Analysis of Risk Assessment Depending on International Project Types |
| Authors |
Baek, Seungwon ; Han, Seung-Heon ; Jung, Wooyong |
| DOI |
http://dx.doi.org/10.6106/KJCEM.2019.20.5.125 |
| Keywords |
International Construction Project; Predicted Risk; Actual Risk; Contingency; Cost Growth Rate |
| Abstract |
This study investigated checked risk level before bid, actual risk level after award, contingency, and cost growth rate in the 124 international construction projects executed by Korean major companies. This study conducted comparative analysis by product type using rank analysis, ANOVA and correlation analysis. As a result, plant and civil projects have worse risk level than architecture projects not only in before bid but also in after award. Especially, country risk is the worst risk in both plant and civil projects, followed by project risk and capability risk. Also, although plant and civil projects reflect more contingency than architecture projects, contingency is not correlated with the checked risk level before bid. Lastly, the cost growth rate is correlated with the actual risk level in all product types. This study is expected to support in planning better practical risk management for international construction projects. |