Implementation of Risk Management in Construction Projects for a Government-Linked Company (GLC)
Risk management (RM) is one of the important elements considered by construction project practitioners, academics and business community to enhance organizational performance and to create value for their shareholders. The objective of this paper is to present the implementation of RM to ensure project success by focusing on the level of understanding and knowledge of RM among the stakeholders in one of the government-linked companies (GLC) in Malaysia known as FGV Holdings (FGVH). The research adopted a quantitative approach using questionnaire survey administered to selected respondents under FGVH. Descriptive and statistical analysis were used to analyse the data namely, reliability and normality tests, mean ranking and correlation. Using mean ranking, it is observed that the respondents have a good understanding and knowledge on the effectiveness of RM and the sources of risk factors that affect the project performance in FGVH. In determining the relationships between variables, correlation analysis shows a strong and positive correlation FGVH performance and its monitoring system to ensure effectiveness of RM in construction projects (r = 0.522, p < 0.01). Thus, findings indicate that RM implementation is in place in FGVH. It is recommended that the future research setting is broadened across the FGV subsidiaries to get the more accurate results on RM implementation in FGVH.
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