Abstract
One of the critical factors responsible for the successful management of construction projects is individual factors. These factors play a significant role in the decision-makers' attitudes towards risks management. Many previous studies regarding the management of construction projects have focusedon the factors contributing to the success of risk management. However, little attention has been given to factors severely affecting the decision-makers' risk attitudes with particular reference to an individual's risk factors in the construction industry. Therefore, this study aims to identify the factors affecting contractors' risk attitudes and then determine its relationship with government policy. Theoriesof planned behaviour and organisational control wereused to develop the theoretical framework that investigated G-7 contractors in the Kuantan Pahang, Malaysian construction industry. A review of relevant literature and questionnaire was employedto identify the factors affecting contractors' risk attitudes (personal factors). 112copies of a structured questionnaire were analysed with a response rate of 80%. Structural Equation Modelling SEM was utilised to test the hypotheses developed for the study. The results of this study,through SEM,proved that personal factors (working experience, professional competence and physical health) have a significant influence on contractor risk attitudes in the Malaysian construction industry. The findings of this research also confirm that government policy (rules and regulations) plays a moderating role in enhancing the relationship of personal factors affecting contractors’ risk attitudes in construction companies in Malaysia. The findings of the study provide more understanding of the personal factors that affect contractors' risk attitudes to facilitate contractors' decision-making process and serve as a useful reference for further studies in the field of construction project management.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
More From: International Journal of Construction Supply Chain Management
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.