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Managing External Risks for International Architectural, Engineering, and Construction (AEC) Firms Operating in Gulf Cooperation Council (GCC) States

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Abstract

International projects involve both uncertainties raised domestically and external risks in international transactions. Through a questionnaire survey and case studies among architectural, engineering, and construction (AEC) firms operating in the Gulf, this study found 36.5% external risk factors that should be contemplated before the award of contracts and 53.9% afterward to ensure smooth running. An external risk breakdown structure (E-RBS) and a framework for foreign AEC firms operating in Gulf Cooperation Council (GCC) states were developed for users to identify and respond to external risks in a more systematic manner. International firms outside Malaysia are strongly advised to use the framework for risk forecasting and mitigation when operating in the Gulf.

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