Developing a Risk Management Process for General Contractors in the Bidding Stage for Design–Build Projects in Vietnam

Design–build (DB) projects have become increasingly popular for construction projects in developing countries due to the cost and scheduling advantages and their design optimization ability. As a result, much research has been conducted on improving DB efficiency in terms of cost, scheduling, risk m...

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Autores principales:	Duy-Hoang Pham, Dang-Huy Ly, Ngoc-Khue Tran, Yong-Han Ahn, Hyeongjae Jang
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	risk management tendering bidding design–build Vietnam Building construction TH1-9745
Acceso en línea:	https://doaj.org/article/c347942465344542af56f9c0dd2c35af
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id	oai:doaj.org-article:c347942465344542af56f9c0dd2c35af
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spelling	oai:doaj.org-article:c347942465344542af56f9c0dd2c35af2021-11-25T17:00:05ZDeveloping a Risk Management Process for General Contractors in the Bidding Stage for Design–Build Projects in Vietnam10.3390/buildings111105422075-5309https://doaj.org/article/c347942465344542af56f9c0dd2c35af2021-11-01T00:00:00Zhttps://www.mdpi.com/2075-5309/11/11/542https://doaj.org/toc/2075-5309Design–build (DB) projects have become increasingly popular for construction projects in developing countries due to the cost and scheduling advantages and their design optimization ability. As a result, much research has been conducted on improving DB efficiency in terms of cost, scheduling, risk management, etc. However, the existing studies have mainly focused on the owner’s roles, whereas general contractors (GCs) must also take many risks on behalf of owners in DB projects. The adequate identification and assessment of risks before engaging a contractor can increase the likelihood of a project’s success, at least from a DB contractor’s perspective. Therefore, this study interviewed procurement experts to conduct a survey at the local level, then analyzed, developed, and proposed an additional risk management process (RMP) for use by GCs during the bidding process of DB projects. A case study was conducted with a large Vietnamese GC to evaluate the effectiveness of the process and find ways to optimize it in the future. The results of the study showed that risk management during a DB project is imperative. Nevertheless, preparing bids is time-consuming and increases the contingency costs, reducing the competitiveness of the bid prices for contractors. Therefore, depending on the specific project and risk management objectives, an RMP is recommended for adjusting the risk management target to reduce the risk, while still maintaining the competitiveness of the bid prices.Duy-Hoang PhamDang-Huy LyNgoc-Khue TranYong-Han AhnHyeongjae JangMDPI AGarticlerisk managementtenderingbiddingdesign–buildVietnamBuilding constructionTH1-9745ENBuildings, Vol 11, Iss 542, p 542 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	risk management tendering bidding design–build Vietnam Building construction TH1-9745
spellingShingle	risk management tendering bidding design–build Vietnam Building construction TH1-9745 Duy-Hoang Pham Dang-Huy Ly Ngoc-Khue Tran Yong-Han Ahn Hyeongjae Jang Developing a Risk Management Process for General Contractors in the Bidding Stage for Design–Build Projects in Vietnam
description	Design–build (DB) projects have become increasingly popular for construction projects in developing countries due to the cost and scheduling advantages and their design optimization ability. As a result, much research has been conducted on improving DB efficiency in terms of cost, scheduling, risk management, etc. However, the existing studies have mainly focused on the owner’s roles, whereas general contractors (GCs) must also take many risks on behalf of owners in DB projects. The adequate identification and assessment of risks before engaging a contractor can increase the likelihood of a project’s success, at least from a DB contractor’s perspective. Therefore, this study interviewed procurement experts to conduct a survey at the local level, then analyzed, developed, and proposed an additional risk management process (RMP) for use by GCs during the bidding process of DB projects. A case study was conducted with a large Vietnamese GC to evaluate the effectiveness of the process and find ways to optimize it in the future. The results of the study showed that risk management during a DB project is imperative. Nevertheless, preparing bids is time-consuming and increases the contingency costs, reducing the competitiveness of the bid prices for contractors. Therefore, depending on the specific project and risk management objectives, an RMP is recommended for adjusting the risk management target to reduce the risk, while still maintaining the competitiveness of the bid prices.
format	article
author	Duy-Hoang Pham Dang-Huy Ly Ngoc-Khue Tran Yong-Han Ahn Hyeongjae Jang
author_facet	Duy-Hoang Pham Dang-Huy Ly Ngoc-Khue Tran Yong-Han Ahn Hyeongjae Jang
author_sort	Duy-Hoang Pham
title	Developing a Risk Management Process for General Contractors in the Bidding Stage for Design–Build Projects in Vietnam
title_short	Developing a Risk Management Process for General Contractors in the Bidding Stage for Design–Build Projects in Vietnam
title_full	Developing a Risk Management Process for General Contractors in the Bidding Stage for Design–Build Projects in Vietnam
title_fullStr	Developing a Risk Management Process for General Contractors in the Bidding Stage for Design–Build Projects in Vietnam
title_full_unstemmed	Developing a Risk Management Process for General Contractors in the Bidding Stage for Design–Build Projects in Vietnam
title_sort	developing a risk management process for general contractors in the bidding stage for design–build projects in vietnam
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/c347942465344542af56f9c0dd2c35af
work_keys_str_mv	AT duyhoangpham developingariskmanagementprocessforgeneralcontractorsinthebiddingstagefordesignbuildprojectsinvietnam AT danghuyly developingariskmanagementprocessforgeneralcontractorsinthebiddingstagefordesignbuildprojectsinvietnam AT ngockhuetran developingariskmanagementprocessforgeneralcontractorsinthebiddingstagefordesignbuildprojectsinvietnam AT yonghanahn developingariskmanagementprocessforgeneralcontractorsinthebiddingstagefordesignbuildprojectsinvietnam AT hyeongjaejang developingariskmanagementprocessforgeneralcontractorsinthebiddingstagefordesignbuildprojectsinvietnam
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Developing a Risk Management Process for General Contractors in the Bidding Stage for Design–Build Projects in Vietnam

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