Incorporation of Risk Index for Risk Response and Risk Mitigation Strategies of Public-Private Partnership (PPP) Housing Construction Project in Malaysia

The present work attempt to derive a risk index that causing performance failures among Public-private partnership (PPP) housing construction project, and to propose a risk response and monitoring strategy based on the risk index obtained. A total of thirty-three (33) respondent involved in the PPP...

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Main Authors:	Putri Zulaiha, Razi, Mohamad Idris, Ali, Noram Irwan, Ramli
Format:	Conference or Workshop Item
Language:	English
Published:	IOP Publishing 2020
Subjects:	TH Building construction
Online Access:	http://umpir.ump.edu.my/id/eprint/27320/ http://umpir.ump.edu.my/id/eprint/27320/ http://umpir.ump.edu.my/id/eprint/27320/1/Incorporation%20of%20Risk%20Index%20for%20Risk%20Response%20and%20Risk%20Mitigation%20Strategies%20of%20PPP%20Housing%20Construction%20Project%20in%20Malaysia.pdf

id	ump-27320
recordtype	eprints
spelling	ump-273202020-01-09T09:03:24Z http://umpir.ump.edu.my/id/eprint/27320/ Incorporation of Risk Index for Risk Response and Risk Mitigation Strategies of Public-Private Partnership (PPP) Housing Construction Project in Malaysia Putri Zulaiha, Razi Mohamad Idris, Ali Noram Irwan, Ramli TH Building construction The present work attempt to derive a risk index that causing performance failures among Public-private partnership (PPP) housing construction project, and to propose a risk response and monitoring strategy based on the risk index obtained. A total of thirty-three (33) respondent involved in the PPP housing construction assessing the risk elements employing the Analytical Hierarchy Process (AHP). Findings reveal that among the risks that were captured for high to extreme risks (0.100 < RI ≤ 0.150) are geologic hazard risk (0.125), and inflation and interest rate risk (0.116) whereas strategy proposed for both of the extreme risks are avoiding the risk and it best to be assigned the risks to the private sector. On contrary, results for moderate risks captured with unreliable value for money (0.066), fluctuation in currency exchange rate (0.058), absence of transparency and accountability during procurement process (0.084), absence of robust and clear agreement (0.077), unforeseen ground condition (0.058) and shortage of technical expertise (0.054) the strategy advocated for the moderate risk is to transfer the risks and shared within both parties i.e. public and private. Eventually, low risks occupied within the risk index of (0.000 < RI ≤ 0.050) are financial incapacity if private partners (0.034), weak state intervention (0.039), persistent land acquisition (0.039), insufficient capacity in procurement and negotiation (0.035), frequent design change (0.039), design over specification (0.023), poor quality workmanship (0.029), absence of specific PPP framework (0.046) and inadequate PPP skills and knowledge leading to poor planning (0.043) all the risks best to accept and retained within the public sectors. Taken together, the development of risk response and risk mitigation plan that emerged from the risk index offered significant contribution which has gain a new understanding that risks with severe or low exposure can be reduced or avoided taking into account its strategic and effective response and mitigation approaches. IOP Publishing 2020 Conference or Workshop Item PeerReviewed pdf en cc_by http://umpir.ump.edu.my/id/eprint/27320/1/Incorporation%20of%20Risk%20Index%20for%20Risk%20Response%20and%20Risk%20Mitigation%20Strategies%20of%20PPP%20Housing%20Construction%20Project%20in%20Malaysia.pdf Putri Zulaiha, Razi and Mohamad Idris, Ali and Noram Irwan, Ramli (2020) Incorporation of Risk Index for Risk Response and Risk Mitigation Strategies of Public-Private Partnership (PPP) Housing Construction Project in Malaysia. In: IOP Conference Series: Materials Science and Engineering, 3rd National Conference on Wind & Earthquake Engineering and International Seminar On Sustainable Construction Engineering, 12-13 July 2019 , Kuala Lumpur, Malaysia. pp. 1-9., 712 (012031). ISSN 1757-899X https://doi.org/10.1088/1757-899X/712/1/012031
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Malaysia Pahang
building	UMP Institutional Repository
collection	Online Access
language	English
topic	TH Building construction
spellingShingle	TH Building construction Putri Zulaiha, Razi Mohamad Idris, Ali Noram Irwan, Ramli Incorporation of Risk Index for Risk Response and Risk Mitigation Strategies of Public-Private Partnership (PPP) Housing Construction Project in Malaysia
description	The present work attempt to derive a risk index that causing performance failures among Public-private partnership (PPP) housing construction project, and to propose a risk response and monitoring strategy based on the risk index obtained. A total of thirty-three (33) respondent involved in the PPP housing construction assessing the risk elements employing the Analytical Hierarchy Process (AHP). Findings reveal that among the risks that were captured for high to extreme risks (0.100 < RI ≤ 0.150) are geologic hazard risk (0.125), and inflation and interest rate risk (0.116) whereas strategy proposed for both of the extreme risks are avoiding the risk and it best to be assigned the risks to the private sector. On contrary, results for moderate risks captured with unreliable value for money (0.066), fluctuation in currency exchange rate (0.058), absence of transparency and accountability during procurement process (0.084), absence of robust and clear agreement (0.077), unforeseen ground condition (0.058) and shortage of technical expertise (0.054) the strategy advocated for the moderate risk is to transfer the risks and shared within both parties i.e. public and private. Eventually, low risks occupied within the risk index of (0.000 < RI ≤ 0.050) are financial incapacity if private partners (0.034), weak state intervention (0.039), persistent land acquisition (0.039), insufficient capacity in procurement and negotiation (0.035), frequent design change (0.039), design over specification (0.023), poor quality workmanship (0.029), absence of specific PPP framework (0.046) and inadequate PPP skills and knowledge leading to poor planning (0.043) all the risks best to accept and retained within the public sectors. Taken together, the development of risk response and risk mitigation plan that emerged from the risk index offered significant contribution which has gain a new understanding that risks with severe or low exposure can be reduced or avoided taking into account its strategic and effective response and mitigation approaches.
format	Conference or Workshop Item
author	Putri Zulaiha, Razi Mohamad Idris, Ali Noram Irwan, Ramli
author_facet	Putri Zulaiha, Razi Mohamad Idris, Ali Noram Irwan, Ramli
author_sort	Putri Zulaiha, Razi
title	Incorporation of Risk Index for Risk Response and Risk Mitigation Strategies of Public-Private Partnership (PPP) Housing Construction Project in Malaysia
title_short	Incorporation of Risk Index for Risk Response and Risk Mitigation Strategies of Public-Private Partnership (PPP) Housing Construction Project in Malaysia
title_full	Incorporation of Risk Index for Risk Response and Risk Mitigation Strategies of Public-Private Partnership (PPP) Housing Construction Project in Malaysia
title_fullStr	Incorporation of Risk Index for Risk Response and Risk Mitigation Strategies of Public-Private Partnership (PPP) Housing Construction Project in Malaysia
title_full_unstemmed	Incorporation of Risk Index for Risk Response and Risk Mitigation Strategies of Public-Private Partnership (PPP) Housing Construction Project in Malaysia
title_sort	incorporation of risk index for risk response and risk mitigation strategies of public-private partnership (ppp) housing construction project in malaysia
publisher	IOP Publishing
publishDate	2020
url	http://umpir.ump.edu.my/id/eprint/27320/ http://umpir.ump.edu.my/id/eprint/27320/ http://umpir.ump.edu.my/id/eprint/27320/1/Incorporation%20of%20Risk%20Index%20for%20Risk%20Response%20and%20Risk%20Mitigation%20Strategies%20of%20PPP%20Housing%20Construction%20Project%20in%20Malaysia.pdf
first_indexed	2023-09-18T22:42:54Z
last_indexed	2023-09-18T22:42:54Z
_version_	1777417033363750912

Incorporation of Risk Index for Risk Response and Risk Mitigation Strategies of Public-Private Partnership (PPP) Housing Construction Project in Malaysia

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