Risk approaches for making Go/No-go decisions by Thai consulting engineering firms. | |
| Author | Nang Kham Kyi Oo |
| Call Number | AIT Thesis no.CM-07-4 |
| Subject(s) | Consulting firms--Risk management--Thailand Consulting enginers--Thailand |
| Note | A thesis submitted in partial fulfillment of requirements for the degree of Master of Engineering Construction, Engineering and Infrastructure Management. |
| Publisher | Asian Institute of Technology |
| Series Statement | Thesis ; no. CM-07-4 |
| Abstract | It is very crucial for Thai consulting engineering firms making take/do not take or go/no-go decisions to on projects not only for domestic/local but also for international/overseas projects. The reason is that there are a lot of risks involved in both local and oversea projects. Due to reduced demand in the Thai consulting environment, most large Thai consulting firms are venturing to overseas markets. However small and medium sized Thai consulting firms are still in local markets. Because of low demand and much competition, they have to accept lower consultant fee and it will affect their profitability. They accept a project with low profit because they need to work; need to retain the staff and for the company itself. Consequently, companies face a lot of risks when deciding whether or not to handle a project. This research aimed to help Thai consulting firms in making decisions before accepting projects by approaching risk identification (knowing which factors is most important) and risk mitigation strategies (how to reduce the impact of risks). To achieve the objectives of the study, risks were divided into nine main categories with sub-risk factors under each main category for identification of the important factors for making decisions and the important factors affecting profitability. To reduce those factors, risk mitigation strategies are suggested for the nine main risk categories. Statistical hypothesis was done using the T -test to find out the differences in perception among two groups: Thai consulting firms doing only local projects and those doing both local and oversea projects. For this purpose, questionnaire survey was done on managing directors, board of directors, upper level management and engineers. Moreover, interviews were also conducted with three large consulting firms to know the detailed opinion and ideas. Since the sample of consulting firms involved in oversea projects is quite small, detailed discussions for oversea project was not done. According to the importance indexes, top five risk factors and top five risk mitigation strategies considered to be most important when handling local projects are discussed in detailed. Moreover, the hypothesis was tested and showed that there are four significant factors considered in making decision, six significant factors affecting profitability and five significant factors for effectiveness in mitigation strategies among the two groups. Recommendations for practice are given and other recommendations for further studies are suggested. |
| Year | 2007 |
| Corresponding Series Added Entry | Asian Institute of Technology. Thesis ; no. CM-07-4 |
| Type | Thesis |
| School | School of Engineering and Technology (SET) |
| Department | Department of Civil and Infrastucture Engineering (DCIE) |
| Academic Program/FoS | Construction Engineering and Infrastructure Management (CM) |
| Chairperson(s) | Ogunlana, Stephen Olu; |
| Examination Committee(s) | Chotchai Charoenngam;Naveed Anwar; |
| Scholarship Donor(s) | Asian Institute of Technology Fellowship |
| Degree | Thesis (M.Eng.) - Asian Institute of Technology, 2007 |