Identifying risk factors that increase costs for contractors during the construction phase of high-rise buildings in Hanoi

Abstract

High-rise building investment projects in Hanoi are increasingly large in scale and complexity, with many projects failing to achieve their goals within the time frame, allowable cost and required quality. Therefore, recognizing, evaluating and proactively managing the impact of risks will better ensure the success of the project. The objective of this study is to identify and evaluate the impact of risk factors that increase costs during the construction phase of high-rise buildings in Hanoi, using qualitative and quantitative research methods, in which quantitative research is conducted by an independent survey to enhance the objectivity of the data. The author used SPSS 20 software to analyze data from 160 valid questionnaires and the results showed that the risk factors of incorrect bidding and design errors greatly affect the increase in costs during the construction phase of high-rise buildings.

Key words: Risk; cost; risk management; investment project; project management; high-rise building.