Enterprise risk management in Chinese construction firms operating overseas

In recent years, the trend of risk management has moved towards a holistic view, and enterprise risk management (ERM) has attracted much worldwide attention. Construction firms have been seen as prime candidates for ERM adoption because their businesses are risky ventures, plagued with complex and diverse risks. The objectives of this research are to (1) propose an ERM framework to facilitate the ERM implementation in construction firms; (2) develop an ERM maturity model to assess the ERM maturity in Chinese construction firms (CCFs); (3) investigate the ERM maturity level in CCFs based in Singapore; (4) examine the critical factors driving and hindering the implementation of ERM in CCFs based in Singapore, and analyze them in tandem with theories of organizational behavior; and (5) develop a knowledge-based decision support system (KBDSS) that can assess the ERM maturity level of CCFs and provide recommendations to improve ERM implementation along the maturity continuum.