JEFMS Journal

ABSTRACT:

Risk management is very important for a construction company to carry out all company activities and especially to run a construction project. As is known, the project is carried out through stages in which it is very loaded with unwanted events, ranging from the tender process to get the project, the design stage, the pre-construction stage, the construction stage, and the post-construction stage. It is determined that risk categories are divided into operational; Financial; legal; & marketing. Causative factors consist of external; legal; human; process; & system. Areas of cause determined: design &; marketing; legal; implementation; therapy. Risk treatment strategies are determined: eliminating sources of risk; maintaining risk with the right decision; changing the possibilities; and Changing consequences. Based on secondary data obtained on seven projects that have been completed in the Jabodetabek area by one of the construction companies in Indonesia, qualitatively it was found that operational risk occupies the top position, the category that most often arises unwanted events. Process factors are the highest factors as the cause of an unwanted event. Process factors are the highest factors as the cause of an unwanted event. Then the construction period is the highest area, and often an unwanted event occurs. Naturally, the construction period has the longest duration compared to other stages. It further eliminates sources of risk, transforms consequences and turns possibilities into the most frequent ones in the process of managing risks in the project. Meanwhile, based on the level of risk identified from 38 risks that occurred in seven projects, the level of extreme risk occurred in as many as 10 events and as many as 19 events, then after follow-up, the level of extreme risk became as many as 2 events and high to 19 events, this indicates that these unwanted events affect the profit target of the project being worked on. Thus, ERM becomes very important for a construction company in order to achieve the company's goals and objectives and ERM is an important part of good corporate governance

KEYWORDS:

Project risk, Project profit

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