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Risk Factors Affecting Equipment Management in Construction Firms
Cuong Phu PHAM,Phong Thanh NGUYEN,Phuong Thanh PHAN,Quyen Le Hoang Thuy To NGUYEN,Loan Phuc LE,My Tien Ha DUONG 한국유통과학회 2020 The Journal of Asian Finance, Economics and Busine Vol.7 No.11
Mechanization and automation constitute an essential stage in the production and operation of any company, as one of the determinants of increase in labor productivity and decrease in product price, while significantly contributing to shortening of the lead time. Businesses are, therefore, able to quickly put projects into operation, improving economic efficiency, quality, and aesthetics, which speeds up the national economic growth. For the construction industry to be the most effective, modern construction equipment is a necessity. It is one of the five main resources of a construction project. Thus, effective construction equipment management contributes to the success of a project and benefits the relevant construction companies economically. This paper presents the critical risk factors affecting equipment management and proposes suitable solutions. The questionnaire-based survey with experienced experts in the construction sector on the management of the likelihood and consequence of risk factors revealed thirty-two risks for equipment management in construction companies. These factors fell into six groups: (i) site organization-related risks; (ii) management-related risks; (iii) owner-related risks; (iv) supplier-related risks; (v) legal risks, and (vi) site condition-related and external risks. The results showed that management-related factors contributed to the most significant risks and problems for equipment management in construction companies.
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Critical Factors of Subcontractor Evaluation and Selection: A Case Study in Vietnam
VO, Khoa Dang,PHAM, Cuong Phu,PHAN, Phuong Thanh,VU, Ngoc Bich,DUONG, My Tien Ha,LE, Loan Phuc,NGUYEN, Quyen Le Hoang Thuy To Korea Distribution Science Association 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.3
A contractor or a main contractor is a company with full capacity to construct all project's works for the owner. A subcontractor is an organization that works with the main contractor to execute and complete work packages for the project. Selecting an effective subcontractor will help the efficiency and success of any projects in the construction industry. Therefore, this study identified subcontractor evaluation factors in Vietnam by collecting questionnaire survey data from engineers and staffs in the construction industry project environment. An exploratory factor analysis (EFA) was then performed to identify the critical factors when evaluating and selecting the subcontractor in construction projects. Moreover, when considering the impact level in terms of the average value, the research results showed that the most critical concern was the subcontractor's reputation. Furthermore, the top five factors affecting the sub-contractor evaluation and selection are (i) reputation, (ii) price, (iii) construction techniques, (iv) ability to implement projects according to commitments, and (v) subcontractor competence (the team of workers, technician staff, engineers with full capacity according to regulations). These research results provide an overall perspective that will help main contractors develop suitable subcontractors' evaluation and selection factors in their projects in the construction industry.
ScienceON
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