Risk management in oil and gas construction projects in Vietnam

Emerald - Tập 1 Số 2 - Trang 175-194 - 2007
Nguyen Van Thuyet1, Stephen O. Ogunlana1, Prasanta Kumar Dey2
1Asian Institute of Technology, School of Civil Engineering, Bangkok, Thailand
2Aston Business School, Aston University, Birmingham, UK

Tóm tắt

PurposeThe purpose of the paper is to the identify risk factors, which affect oil and gas construction projects in Vietnam and derive risk responses.Design/methodology/approachQuestionnaire survey was conducted with the involvement of project executives of PetroVietnam and statistical analysis was carried out in order to identify the major project risks. Subsequently, mitigating measures were derived using informal interviews with the various levels of management of PetroVietnam.FindingsBureaucratic government system and long project approval procedures, poor design, incompetence of project team, inadequate tendering practices, and late internal approval processes from the owner were identified as major risks. The executives suggested various strategies to mitigate the identified risks. Reforming the government system, effective partnership with foreign collaborators, training project executives, implementing contractor evaluation using multiple criteria decision‐making technique, and enhancing authorities of project people were suggested as viable approaches.Practical implicationsThe improvement measures as derived in this study would improve chances of project success in the oil and gas industry in Vietnam.Originality/valueThere are several risk management studies on managing projects in developing countries. However, as risk factors vary considerably across industry and countries, the study of risk management for successful projects in the oil and gas industry in Vietnam is unique and has tremendous importance for effective project management.

Tài liệu tham khảo

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Emerald

Tập 1 Số 2

175-194

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