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Abstract

Contractor's risk management capability (RMC) reflects the sophistication of contractor's understanding of risk portfolio and how to manage those risks. This paper aims to develop a RMC assessment model for subway project contractors and to assess the current overall RMC of subway project contractors in mainland China. To achieve the objectives, a questionnaire survey was conducted and data were collected from 58 respondents. The empirical research findings showed that the overall RMC of subway project contractors can be regarded as between "low" and "medium". In addition, currently in subway projects' area, contactor's risk analysis capability is relatively more mature than other capabilities. However, contractors' risk management attitude is relatively less mature than other capabilities. Assessing the current RMC of subway project contractors can be used to identify the priority or weakest areas needed for improvement. © 2013 Elsevier Ltd and IPMA.