2.2.3 Financial risk
Cost will be one of the risk in implementing BIM in organisation. It requires a large initial
investment in updating software, hardware and provide training to staff . It also costly
in terms of changing the work flow and work process. In Malaysia, contractor Grade 1 (G1)
to Grade 6 (G6) are still not ready to implement BIM in their construction project due to a
large amount of money to purchase the BIM software and to attend the training .
2.2.4 Legal risk
Absent of national BIM standard in construction industry create a high risk in implementing
BIM. There is no clear standard and policy on BIM process and procedure, no legal
provision for intellectual property, cyber security, and ownership of the data model. Who is
the owner of the data model? Adoption of BIM are initiative by the organisation and yet no
mandate from government to fully implement BIM in construction project both in public or
private project. Therefore, the organisation use their own standard and modified from other
country BIM standard to make suit with Malaysian construction industry. Thus, this
standard tend to be a project basis rather than national standard based. Furthermore, there is
also no standard contract for BIM project which stipulated the contract obligation among
parties involved and dispute settlement mechanism. This will create a big risk in term of
unclear level of responsibility among the project team. Who will bear the responsibility if
any inaccuracy or mistake detected since all have ‘touch up the information’ in the same
Building Information Modeling (BIM) becomes a core technology used in construction
industry due to its benefits and positive impacts towards the project objectives. However,
the adoption rate is still at very low level and slow pace. The main problem of this issue is
concerning real risks and challenges. To succeed in BIM implementation, its important to
have a systematic risk management of how risk being mitigates and the challenges being
overcome. This paper focusing on the 1st stage of risk management which in risk
identification. A summary of risk factors in BIM project were presented and categorised
under 4 main categories; technical risk, management risk, financial risk and legal risk. This
identified risk serve as initial stage in systematic risk management process. It’s crucial to
identify the potential risk in order to enable the organisation to evaluate, assess the risk and
subsequently propose an effective risk response strategy. Failure to recognised the risk
might be affected and jeopardised the project outcome. Risk assessment and risk response
strategy for BIM implementation are highly depending on the comprehensive risk factors.
Recommended that the list of risk factors can be enhance by combining appropriate
techniques from literature review, interview and brainstorming. This research outcome is
proposed as an ongoing basis for the development of subsequent stage in risk management
process involving risk assessment and risk response strategy.
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