Abstract
In recent years, in Vietnam, economy has been developing rapidly. To ensure rapid and sustainable economic growth, strong support from the energy sector is required. Governments in Vietnam have invested in numerous hydropower projects, many of which employ the EPC (Engineering, Procurement and Construction) contract. However, the EPC general contractors are facing many difficulties, resulting in schedule delays and considerable losses. This research is conducted to highlight the main risk factors in the delays of hydropower construction projects in Vietnam. The research employs the method of statistical calculations and risk analysis to obtain feedback from experts participating in similar projects. The research outcomes are as follows: identifying the risks that can cause delays in EPC hydroelectric construction projects in Vietnam; calculating and classifying the degree of impact of each risk to the progress of the construction. The practical significance of this study is to ensure the timely completion of projects, benefits for the investors, and the EPC general contractors.
Highlights
Through the analysis of information and consultation of experts’ opinions, we summarize the characteristics of the hidden risks leading to delays in the construction progress of the hydropower projects
The work achieved includes the following: 1) Recognizing the risks existing in the EPC hydropower projects in Vietnam, thereby establishing the risk factor model for projects in Vietnam
2) Based on those risk models, calculating, analyzing and carefully evaluating the risks to determine the 17 the main reason causes leading to the delays of construction progress of the projects
Summary
Research Context The EPC contract of the hydropower projects in Vietnam is facing many difficulties due to slow progress in construction and delay in time of completion. (2016) Research on Delay Risks of EPC Hydropower Construction Projects in Vietnam. To identify these factors, the author analyzes the characteristics of hydropower projects combined with the opinions of experienced experts with hydropower projects in Vietnam. On this basis, hypotheses about risk models are developed. The research outcomes as follows: identifying the risks that can cause delays in EPC hydroelectric construction projects in Vietnam; calculating and classifying the degree of impact of each risk to the progress of the construction
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