Multicriteria financial portfolio risk management for international projects

被引:34
|
作者
Han, SH
Diekmann, JE
Lee, Y
Ock, JH
机构
[1] Yonsei Univ, Dept Civil Engn, Seoul 120749, South Korea
[2] Univ Colorado, Dept Civil Environm & Architectural Engn, Boulder, CO 80309 USA
[3] Daewoo Construct Co, Overseas Investment Div, Seoul, South Korea
[4] Minist Educ & Human Resource Dev, Educ Fac Affairs Div, Seoul, South Korea
来源
JOURNAL OF CONSTRUCTION ENGINEERING AND MANAGEMENT-ASCE | 2004年 / 130卷 / 03期
关键词
international development; corporate planning; risk management; financial management; bids; construction industry;
D O I
10.1061/(ASCE)0733-9364(2004)130:3(346)
中图分类号
TU [建筑科学];
学科分类号
0813 ;
摘要
While opportunities for international construction firms have been growing with globalization, the risks involved with international construction projects are increasing significantly. However, due to the complex skein of various risks, it is difficult to evaluate the severity of risk variables at the corporate level and to examine key success factors in an attempt to maximize a firm's value under the challenging global business environment. This paper focuses on a financial portfolio risk management for international projects to integrate the risk hierarchy of both individual projects and at the corporate level, which applies a multicriteria decision making method to maximize the total value of firms. To demonstrate the approach, a case study is conducted based on real projects collected from a multinational general contractor. Finally, we present lessons learned as well as guidelines for the application of these lessons to future projects through a workshop with industry practitioners.
引用
收藏
页码:346 / 356
页数:11
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