Project Management Institute

Managing external risks for international architectural, engineering, and construction (AEC) firms operating in Gulf Cooperation Council (GCC) states

International projects involve both uncertainties raised domestically and external risks in international transactions. Through a questionnaire survey and case studies among architectural, engineering, and construction (AEC) firms operating in the Gulf, this study found 36.5% external risk factors that should be contemplated before the award of contracts and 53.9% afterward to ensure smooth running. The study shows which kinds of risks are ranked the most important ones in Gulf Cooperation Council (GCC) states. An external risk breakdown structure (E-RBS) and a framework for foreign AEC firms operating in GCC states were developed for users to identify and respond to external risks in a more systematic manner. International firms outside Malaysia are strongly advised to use the framework for risk forecasting and mitigation when operating in the Gulf.
member content locked

Log in or join PMI to gain access

or Join

Advertisement

Advertisement

Related Content

  • PM Network

    Trees of Life

    By Hendershot, Steve The world needs more trees—and a lot of them—to stem the damage wrought by mass deforestation. Brazil alone is destroying the equivalent of three football pitches per minute in the Amazon rainforest…

  • PM Network

    Rising Risks

    By Nilsson, Ryan For as long as humans have been building cities, they have migrated toward the coasts -- for food, ease of transportation and any number of ecological benefits. Today, it's estimated that more than…

  • PM Network

    Playing with Fire

    By Jones, Tegan With the coastline of an entire continent burning, a scorched-earth urgency had teams across Australia racing to control the damage. Between September 2019 and January 2020, bushfires ravaged…

  • PM Network

    From the Rubble

    By Thomas, Jennifer Puerto Rico's infrastructure woes began long ago. But a series of earthquakes this year coupled with hurricanes Irma and Maria in 2017—which racked upUS$139 billion in damage—exacerbated the U.S.…

  • PM Network

    Trading Transformed?

    Blockchain—the technology that made cryptocurrency mainstream—is now entering the U.S. stock market. In November, the U.S. Securities and Exchange Commission approved a pilot project to use…

Advertisement