Journal of Engineering, Project, and Production Management, 2019, 9(2), 74-84
Identification of Importance Levels of Market Risks in the Construction Sector
Isabelle Portugal Serrado1, João Alberto Neves dos Santos2, Nylvandir Liberato Fernandes de Oliveira3, and Andrey Pimentel Aleluia Freitas4
1Research Engineer,
Postgraduate in Civil Engineering, Federal Fluminense University (UFF),
Niterói, Rio de Janeiro, Brazil. E-mail: isabelleserrado@poli.ufrj.br
(corresponding author).
2Associate Professor, Postgraduate in Civil Engineering,
Federal Fluminense University (UFF), Rua Passo da Pátria, 156, Niterói,
Rio de Janeiro, Brazil. E-mail: joaoalbertoneves@gmail.com
3Research Engineer, Postgraduate in Civil Engineering,
Federal Fluminense University (UFF), Niterói, Rio de Janeiro, Brazil.
E-mail: nliberato@id.uff.br
4Research Engineer, Postgraduate in Civil Engineering,
Federal Fluminense University (UFF), Niterói, Rio de Janeiro, Brazil.
E-mail: andreyfreitas@id.uff.br
Engineering and Production Management
Received October 24, 2018; revised March 14, 2019; accepted April 22, 2019
Available online April 30, 2019
Abstract: Due to the economic crisis, the Brazilian construction companies faced the challenge of remaining competitive in the market, therefore they need to be restructured. Construction projects are intrinsically risky because it changes the environment both physically and socially. Given this complexity and the great exposure to risk, this research aims to evaluate the market risks in construction projects through a field research, analyzing the perception and judgment of professionals in the area. The data analysis was performed by a multivariate index based on the statistical technique Factor Analysis that can be ordered by risk factors by degree of importance. It was possible to confirm the degree of correlation between the subgroups of risk factors and to establish a ranking of the degree of their importance, and the first one considered more relevant was the risk of reducing the quality of the workforce. It was also identified the low maturity in risk management in organizations, even though in civil works a thorough risk analysis is required.
Keywords: Market risk, construction, factor analysis.
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Citation: Serrado, I. P., Santos, J. A. N. D., Oliveira, N. L. F. D., and Freitas, A. P. A. (2019). Identification of Importance Levels of Market Risks in the Construction Sector. Journal of Engineering, Project, and Production Management, 9(2), 74-84.
DOI:
10.2478/jeppm-2019-0009
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