Significance of Risks in Transportation Projects in Vietnam through two main Dimensions

Risk in transportation projects is a common and serious problem recently, affecting project objectives such as causing cost increases, delays in progress, unsatisfactory quality and conflicts in relationships among stakeholders. In particular, these risks often occur during the project construction phase, which is the most complex phase and includes many works. In Vietnam, there were many transportation projects confronted with risks and affected project deliverables. Therefore, it is important to control the risks which may occur in transportation projects, especially in the construction phase. This study aims at investigating the significance of risks in transportation projects through two main dimensions of risks, including the probability of occurrence and the severity of impact. Management strategies for the top-five most important risk are suggested as a guideline for related stakeholders. The research findings would benefit practitioners as well as authorities set up suitable policies to ensure the success of transportation projects.