ISSN: 2734-9438
Website: www.jomc.vn
Risk factors affecting the bidding process of construction investment projects in Ho Chi Minh City
Abstract
Bidding is a critical stage in construction investment project management because it directly influences contractor selection, capital utilization, project schedule, and construction quality. In practice, the bidding process is simultaneously affected by multiple categories of risks associated with documentation, legal issues, economic conditions, technical matters, and finance. This study aims to identify and measure the effects of risk factors on the bidding process of construction investment projects in Ho Chi Minh City. Data were collected from 170 valid survey responses obtained from individuals involved in management, technical, and bidding activities in the construction sector. Quantitative analytical methods were employed, including Cronbach’s Alpha reliability testing, Exploratory Factor Analysis (EFA), Pearson correlation analysis, and multiple linear regression. The results indicate that the research model comprises five statistically significant groups of risk factors, namely documentation procedures, legal procedures, economic factors, technical design, and financial factors. After scale refinement, the final model retained 19 observed variables and explained 50.7% of the variance in bidding risk. Among these factors, technical design exerted the strongest effect, followed by documentation procedures, economic factors, legal procedures, and financial factors. The findings provide a practical basis for project owners, procuring entities, and contractors to prioritize the control of critical risk factors, thereby improving the effectiveness of bidding activities in construction investment projects.
References
- National Assembly. Law on Bidding No. 22/2023/QH15. Issued June 23, 2023; effective January 1, 2024.
- Government. Decree No. 214/2025/ND-CP detailing a number of articles and measures for implementation of the Law on Bidding regarding contractor selection. Issued August 4, 2025.
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- National Assembly. Law No. 62/2020/QH14 amending and supplementing a number of articles of the Law on Construction. Issued June 17, 2020; effective January 1, 2021.
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