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Incorporation of risk index for risk response and risk mitigation strategies of public-private partnership (PPP) housing construction project in Malaysia

P. Z., Razi and Mohamad Idris, Ali and Noram Irwan, Ramli (2019) Incorporation of risk index for risk response and risk mitigation strategies of public-private partnership (PPP) housing construction project in Malaysia. In: Proceedings of 3rd National Conference on Wind & Earthquake Engineering and 1st International Seminar On Sustainable Construction Engineering (NCWE & ISSCE 2019), 12-13 July 2019 , Kuala Lumpur, Malaysia. pp. 213-220..

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Abstract

The present work attempt to derive a risk index that causing performance failures among Public-private partnership (PPP) housing construction project, and to propose a risk response and monitoring strategy based on the risk index obtained. A total of thirty-three (33) respondent involved in the PPP housing construction assessing the risk elements employing the Analytical Hierarchy Process (AHP). Findings reveal that among the risks that were captured for high to extreme risks (0.100 < RI ≤ 0.150) are geologic hazard risk (0.125), and inflation and interest rate risk (0.116) whereas strategy proposed for both of the extreme risks are avoiding the risk and it best to be assigned the risks to the private sector. On contrary, results for moderate risks captured with unreliable value for money (0.066), fluctuation in currency exchange rate (0.058), absence of transparency and accountability during procurement process (0.084), absence of robust and clear agreement (0.077), unforeseen ground condition (0.058) and shortage of technical expertise (0.054) the strategy advocated for the moderate risk is to transfer the risks and shared within both parties i.e. public and private. Eventually, low risks occupied within the risk index of (0.000 < RI ≤ 0.050) are financial incapacity if private partners (0.034), weak state intervention (0.039), persistent land acquisition (0.039), insufficient capacity in procurement and negotiation (0.035), frequent design change (0.039), design over specification (0.023), poor quality workmanship (0.029), absence of specific PPP framework (0.046) and inadequate PPP skills and knowledge leading to poor planning (0.043) all the risks best to accept and retained within the public sectors. Taken together, the development of risk response and risk mitigation plan that emerged from the risk index offered significant contribution which has gain a new understanding that risks with severe or low exposure can be reduced or avoided taking into account its strategic and effective response and mitigation approaches.

Item Type: Conference or Workshop Item (Lecture)
Uncontrolled Keywords: Public-private partnership (PPP); Housing construction; Risk mitigation strategies
Subjects: T Technology > TA Engineering (General). Civil engineering (General)
T Technology > TD Environmental technology. Sanitary engineering
T Technology > TH Building construction
Faculty/Division: Faculty of Civil Engineering & Earth Resources
Depositing User: Mrs Norsaini Abdul Samat
Date Deposited: 25 Nov 2019 03:57
Last Modified: 25 Nov 2019 03:57
URI: http://umpir.ump.edu.my/id/eprint/26580
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