| Title |
A Study on the Analyzing Risk Factors in Chinese Construction Projects using AHP - Focus on Korean CM Company - |
| Authors |
Jang Ryu-Wee ; Yoo Byeong-Gi ; Lee Yoon-Sun ; Kim Jae-Jun |
| Keywords |
Risk Management ; Chinese Construction Projects ; AHP ; CM |
| Abstract |
There has been an increase in research on risk management practice in the construction industry. Many researchers have been dedicating themselves to the field of risk analysis related to Chinese construction market. With the geographical advantage and cultural advantage, Korean construction companies in terms of CM Company have gained lots of market share in Chinese construction market. However, few of methodologies have been developed to manage risk for Korean CM companies. The aim of this paper is to set up a hierarchy structure of the risks to understand the risks in construction projects in China and to develop an analytical hierarchy process (AHP) model to evaluate the risks. Results show that financial risk has the highest average weight of 0.2563; however, political risk has the second highest average weight of 0.2116 in the macro level areas. On the other hand, in the micro level, contract and emerging technology risks have the highest average weight of 0.0711 and 0.0499, respectively. Basing on this research, Korean CM companies can recognize key risks at an early stage and develop effective strategies to manage the possible key risks. |