Evaluating Risk Management Perspectives of Parties in Construction Projects Funded by Vietnam Government’s Budget

Abstract

Risks always go with the activities of construction investment projects. The impact of risks, whether large or small, affects the project results. The proper risk assessment will help managers have appropriate responses. Project parties with different roles will have different project participation goals. This can lead to a different view of risk between the parties in the project. This study will focus on examining the risk management perspectives of the parties during the project implementation phase for construction investment projects using Government’s budget capital in Vietnam. The author will use a multivariate regression model to consider the views of three main actors in the project, including the investor/project management board, the consultant, and the contractor. The views of the parties are analyzed based on the parties' assessment of the impact of risks on project results. Risks are unavoidable in construction investment projects. Project parties need to properly assess risks and develop appropriate responses.