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In addition, a case study in China’s construction industry is included to demonstrate the effectiveness of risk management.
Although the Chinese construction industry has organised a risk management campaign, the anticipated continuous improvement in risk alleviation fails to be realised in the industry. There are some obstacles to the successful implementation of risk management practices in a planned economy including those stemming from both within (internal) and outside (external) an organisation. This study aims to unveil these major obstacles by a survey analysed with the proper methodology. These obstacles include the mandatory requirement by the government; acute competition in the construction market; commitment and leadership of top management; bidding policies; labor training; unique specialties of the industry; statistical methods; organisation structures and teamwork; and resource input. The study reveals that such actions should be implemented that affects the industry’s external factor, in which, it is more crucial than internal factors in hampering the successful progress of the construction industry in Asia, specifically in China. Based on the analysis of risk management approaches and the pitfalls of quality certification in the construction industry of China, this paper proposes that active implementation of a risk management system is more effective than passive implementation in the pursuit of continuous risk management for quality improvement.
The construction industry plays a very important role in the national economy in both developed and developing countries (Miles and Neale, 1991). There is normally a vigorous demand for construction in industrialisation and urbanisation, which is reflected from the sizeable proportion of added value of the construction industry in the gross domestic product (GDP) (Hillebrandt, 2000). In the period of economy take-off in Japan from 1956 to 1973, the percentage of the
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You should consider the whole process of change, including the environmental (wider system) and organisational contexts, the awareness and understanding of the pre-existing situation, the discovery or creation and development of the idea, the development of acceptance by key players and the implementation of the change.
Despite of assistance from organisations such as income disaster assistance program, the contractors and investors ability to stand up on their legs is not improving since the profit of small investors are shrinking so quickly as the expenditure put on grows every year.
The claim appears to be unreasonable. This is because it is a proven fact that one should not keep all eggs in one basket. Diversification helps to reduce risks in investments by diversifying the basket.
Having said that, there might be a group of people who do not want to diversify their investments.
They often attempt to provide answers to these questions by turning to various media including internet chat rooms, printed press, and "talking heads" on television and financial networks, who often voice opinions on what they feel the stock prices should be.
The paper show the conditions and premises due to which the construction materials go to waste and to introduce viable alternatives in order to provide pollution prevention and waste minimization. This paper evaluates the environmental implications and resource conservation of using innovative materials as a source of construction rather than using the more polluting materials currently in practice.
In technical terms, and from a macro-economic view-point, we often refer to all the industries in a particular area as an 'economy', and that is exactly what is implied here. I do not mean the actual economists. So, the various economies, i.e., the Economic part of the country, is becoming aware of possible.
nature of Chinese construction industry and guanxi are the factors that create the condition for the perpetuation of bribery and corruption in the Chinese construction industry. A literature search, quantitative and qualitative data are gathered to get hold of primary data
The performance will be based on the historical prices of the stocks. The report will also try to identify and measure the risk likely to be faced in the portfolio. This is the risk that may hinder the funds from fully achieving the objectives.
The various smaller ports that has been developed in Turkmenistan across the Caspian ports mainly includes the Chekelen, Alaja and Ekarem and it requires the expansion of ports. In the year 2006 Turkmenistan possessed