Risks in the PAM 2006 standard form of contracts

Construction industry is among one of the dynamic, challenging, satisfying and also risky industries. It involves around many uncertainties and probabilities which is indirectly exposed to risk. Generally risk is known as an uncertain event or condition in which its occurrence could affect the proje...

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Main Author:	Arjinan, Sangeetha
Format:	Thesis
Language:	English
Published:	2014
Subjects:	TH Building construction
Online Access:	http://eprints.utm.my/id/eprint/48852/25/SangeethaArjinanMFAB2014.pdf
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id	my-utm-ep.48852
record_format	uketd_dc
spelling	my-utm-ep.488522020-07-01T06:48:57Z Risks in the PAM 2006 standard form of contracts 2014-06 Arjinan, Sangeetha TH Building construction Construction industry is among one of the dynamic, challenging, satisfying and also risky industries. It involves around many uncertainties and probabilities which is indirectly exposed to risk. Generally risk is known as an uncertain event or condition in which its occurrence could affect the project objective and most likely to leave a negative impact. These risks in construction are said to be present from the earlier stage of project such as feasibility stage till the completion stage. The standard form of contract which is used to bind a legal relationship that is enforceable by law between the contracting parties also has some risk. The objective of this study is to identify the risk found in PAM Contract 2006 and to identify the risks probability of occurrence and level of impact. This study had been carried out by using the stages in risk management process. Firstly the risks in terms and condition of contract are identified using the documentation review technique. Later, those risks were ranked according to the probability of occurrence and the level of impact of each risk by conducting a questionnaire survey. The result indicates that there were 46 risks from 23 different clauses identified in terms and condition of PAM Contract 2006. For the probability ranking, there are 10 risks which are almost certainly to occur followed by 31 risks certainly to occur and 5 risks that are likely to occur. Meanwhile for the impact assessment, 27 risks would be leaving very high impact to the objective followed by 19 high impact risks. Overall it can be concluded that risk do exist in terms and condition and one should really understand those terms before entering into contract to avoid any risky events that could affect the project. 2014-06 Thesis http://eprints.utm.my/id/eprint/48852/ http://eprints.utm.my/id/eprint/48852/25/SangeethaArjinanMFAB2014.pdf application/pdf en public http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:83719 masters Universiti Teknologi Malaysia, Faculty of Built Environment Faculty of Built Environment
institution	Universiti Teknologi Malaysia
collection	UTM Institutional Repository
language	English
topic	TH Building construction
spellingShingle	TH Building construction Arjinan, Sangeetha Risks in the PAM 2006 standard form of contracts
description	Construction industry is among one of the dynamic, challenging, satisfying and also risky industries. It involves around many uncertainties and probabilities which is indirectly exposed to risk. Generally risk is known as an uncertain event or condition in which its occurrence could affect the project objective and most likely to leave a negative impact. These risks in construction are said to be present from the earlier stage of project such as feasibility stage till the completion stage. The standard form of contract which is used to bind a legal relationship that is enforceable by law between the contracting parties also has some risk. The objective of this study is to identify the risk found in PAM Contract 2006 and to identify the risks probability of occurrence and level of impact. This study had been carried out by using the stages in risk management process. Firstly the risks in terms and condition of contract are identified using the documentation review technique. Later, those risks were ranked according to the probability of occurrence and the level of impact of each risk by conducting a questionnaire survey. The result indicates that there were 46 risks from 23 different clauses identified in terms and condition of PAM Contract 2006. For the probability ranking, there are 10 risks which are almost certainly to occur followed by 31 risks certainly to occur and 5 risks that are likely to occur. Meanwhile for the impact assessment, 27 risks would be leaving very high impact to the objective followed by 19 high impact risks. Overall it can be concluded that risk do exist in terms and condition and one should really understand those terms before entering into contract to avoid any risky events that could affect the project.
format	Thesis
qualification_level	Master's degree
author	Arjinan, Sangeetha
author_facet	Arjinan, Sangeetha
author_sort	Arjinan, Sangeetha
title	Risks in the PAM 2006 standard form of contracts
title_short	Risks in the PAM 2006 standard form of contracts
title_full	Risks in the PAM 2006 standard form of contracts
title_fullStr	Risks in the PAM 2006 standard form of contracts
title_full_unstemmed	Risks in the PAM 2006 standard form of contracts
title_sort	risks in the pam 2006 standard form of contracts
granting_institution	Universiti Teknologi Malaysia, Faculty of Built Environment
granting_department	Faculty of Built Environment
publishDate	2014
url	http://eprints.utm.my/id/eprint/48852/25/SangeethaArjinanMFAB2014.pdf
_version_	1747817487453388800

Risks in the PAM 2006 standard form of contracts

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