Identification of risk patterns in Vietnamese road and bridge construction

Abstract

PurposeThe purpose of this paper is to identify risk patterns of road and bridge projects in Vietnam, where the construction market is emerging but attractive to construction organizations, especially foreign companies.Design/methodology/approachUsing a questionnaire, experienced practitioners of various contractors were interviewed to collect risk-related data in terms of actual likelihood and impact from road and bridge construction projects in Vietnam. Using the collected data of actual likelihood and impact, the specific probability and impact of risk factors were determined for different types of road and bridge projects, including small and medium type, big type, government-funding type, and other-funding type (e.g. official development assistance funds, public-private partnership).FindingsThe results of analysis indicate the specific probability and impact of risk factors in four risk themes, including contractor-related, project-related, owner-related, and external risks. Actual risk patterns for different types of road and bridge projects in Vietnam were identified.Practical implicationsThe identification of actual risk patterns could help practitioners to know which risk factors are severe in frequency and/or impact. Hence, they could establish proper strategies to manage risk-related problems of road and bridge projects, in which they are directly involved.Originality/valueThe findings of this study could provide construction companies, especially foreign companies, with a better understanding of real risk panorama in Vietnamese road and bridge construction. Hence, they could make effective improvements on risk management of road and bridge projects in Vietnam.