Risk management in Industrialised Building System (IBS)

Risk management is a process where to identify, analyse, treat and control the risk that possible to occur during construction. By applying the risk management, certain risk in the project can be predicted and the parties involve can control the risk. Industrialised Building System (IBS) is a type of construction that using precast concrete- which are made from manufacture. In Malaysia, although IBS has been well known, only few contractors agree to do it. This is because the IBS components or structures are very expensive. So, there are three objectives to be achieved in this final project. The objectives are to identify the factors that contributed to high cost of using IBS, to identify the implication that occur due to high cost in IBS and to determine the precaution taken due to high cost in IBS. In order to achieve the objectives, primary and secondary research methodology had been applied. Primary data are gathered from interview session with few project's team members. In addition, secondary data are obtained from literature review. From the analysis, it can be concluded that risk management in IBS is very important as it will determine the project cost. If the project team can identify and control the risk that possibly to happen, so the project can be completely done as scheduled.