Risk management trends in the Hong Kong construction industry: a comparison of contractors and owners perceptions

Abstract

This paper reports a study carried out to compare the attitudes and perceptions of Hong Kong construction contractors and owners on the importance of various construction risks and also how the risks should be allocated between the parties to the contract. Data were collected by a questionnaire survey on industry professionals representing contractors and owners. Both the owners and the contractors have attached high importance to risk factors such as safety, quality and financial failures. Results also indicate a readiness on the part of the contractors to allocate a greater portion of risks to themselves.