Abstract:
Despite the booming domestic construction market, an increasing number of Chinese Construction
Firms (CCFs) have ventured overseas for market expansion, and thus are simultaneously exposed to
higher business risks. Hence, they require not only project risk management (PRM) but also a more
holistic and integrated approach to managing risks on an enterprise basis, which is known as
enterprise risk management (ERM). The objective of this study is to examine ERM implementation in
CCFs based in Singapore. As part of a larger research project, this current study adopts a case study
approach in the first instance to understand the ERM implementation of a relatively large CCF based
in Singapore. The information is collected through in-depth interviews with the senior management of
the firm and document review. The empirical findings suggest that the firm has initiated an ERM
program and established clear ERM ownership, a regular risk communication mechanism, and a riskaware
culture. However, the firm does not have a risk management information system, which may
create inefficiency and hinder the involvement of staff at a lower level of the firm. The findings of this
study provide valuable information about current ERM implementation status for practitioners and
researchers.
