Developing a supporting model System Dynamics and managing risks in the preparation phase of the Owner's high-rise building project in Ho Chi Minh City

Abstract

ABSTRACT:
Risks management in the preparation phase of the project is a relatively difficult and complicated job due to the influence of internal risks, external risks as well as the volatility of risks. This study has identified the risk factors affecting the cost and progress of the project through the survey of experienced personnel working in the field of construction investment. After conducting statistical analysis, 26 factors were identified from 05 main groups that pose
risks and have great influence. From these factors, building a dynamic system model (System Dynamics) to support risk assessment, thereby analyzing and proposing risks management measures for each specific case.

Keywords: System Dynamics, risks management, risks in the preparation phase, risks response strategies.