TITLE:
Research on Cost Overrun Risk of Construction Phase of Vietnam Highway International Contracting Project
AUTHORS:
Hong Anh Vu, Jianqiong Wang, Lianxing Min, Sy Hung Mai, Hong Phong Nguyen
KEYWORDS:
Highway, Construction, Cost Overrun, Risk Management, Vietnam
JOURNAL NAME:
Engineering,
Vol.8 No.3,
March
16,
2016
ABSTRACT: Recently, the highway construction projects increase rapidly in Vietnam and most of them are international contracting projects. It results serious negative influence on the local government and enterprises that the common cost overrun of projects, and the risk factors of it is different in the different countries, different stages and projects types. So in this paper, we generate an evaluation index system of highway construction projects cost overrun risk in Vietnam in the perspective of different project participants, and also evaluate the effects of these factors in method of regression analysis. The empirical results confirmed 7 main factors that have aggravated cost overrun risk in construction stages, e.g. survey and design scheme risk. In final, the corresponding suggestions are proposed to reduce the project cost overrun risk.