International Journal of Research Studies in Management
CollabWritive Special Issue
2024 Volume 12 Issue 8
Available Online: 30 July 2024
Author/s:
Zheng, Wenhui
Graduate School, Lyceum of the Philippines University – Batangas, Philippines (55886487@qq.com)
Abstract:
The aim of this study is to clarify the interrelationship between technology application, risk management, and business performance, and to propose the following research objectives: by using a descriptive correlation design, this study will empirically test the impact of technology application on business performance in construction projects in Guangdong Province, and evaluate the role of risk management in it. The study will collect data through structured questionnaires and analyze using statistical software to reveal trends, patterns, and significant correlations between technology use, risk control strategies, and corporate performance. The goal is to develop a data-driven comprehensive project management framework for Guangdong Construction Company, aimed at improving efficiency, reducing risks, and ultimately enhancing business performance. Through these research objectives, this study aims to provide in-depth insights into the construction industry and promote the understanding of the role of technology and risk management in enhancing the success of construction projects in both the practical and academic communities. The conclusion drawn from the study is: 1) The respondents unanimously agree that the technology application of construction companies is evident in information technology systems, building model software, project management software, as well as innovation and adoption. 2) These companies have good management practices in risk identification, risk assessment, risk response, and monitoring, which have been recognized by the respondents. 3) The respondents evaluated the company’s performance in terms of project completion time, cost control, cost structure, and profit. 4) There is an important relationship between technological application, risk management practices, and business performance, which has developed a strengthened project management framework for construction companies.
Keywords: business performance, construction enterprises, risk management, technology application
DOI: https://doi.org/10.5861/ijrsm.2024.1203
Cite this article:
Zheng, W. (2024). Technology application, risk management, and business performance in construction enterprises: Basis for enhanced project management framework. International Journal of Research Studies in Management, 12(8), 27-37. https://doi.org/10.5861/ijrsm.2024.1203