Title:
Risk Management Practices in Construction: China Experience

Authors:
Chenchen Yu, Chere’ Yturralde, Philippines

Abstract:

The purpose of this paper is to talk about how risk is managed in the building industry and rate how well it works in dealing with changes in China's economy, markets, and policies. There are many risks in the construction business, such as those related to safety, meeting deadlines, quality, money, and following the rules. The article reviews the practical application of these risk management areas and explores how they affect project quality, cost control and corporate competitiveness. The study shows that with the diversification of project contract forms and the increasing complexity of large-scale projects, construction companies need to implement comprehensive risk management strategies to cope with these challenges. Effective risk management not only helps to ensure the smooth implementation of projects, but also enhances the competitiveness and efficiency of enterprises in the market. (Wang, 2023)

DOI: http://dx.doi.org/10.51505/ijaemr.2024.9512