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In the context of Industry 4.0, intelligent construction technologies (ICT) represented by information technology and networking will undoubtedly provide new impetus to the development of the prefabricated building supply chain (PBSC), but they will also bring various potential risks. So far, there is a large lack of research on the comprehensive consideration of the risks associated with the intelligent transformation of PBSC based on the information sharing perspective, and the critical risks and interactions are still unclear, making it difficult to identify efficient risk mitigation strategies. Therefore, this paper aims to reveal the interactions between stakeholders and clarify the critical risk nodes and interactions in information sharing of PBSC (IS-PBSC), and propose targeted risk mitigation strategies.

Firstly, this paper creatively delineates the risks and critical stakeholders of IS-PBSC. Secondly, Data is collected through questionnaires to understand the degree of risks impact. Thirdly, with the help of NetMiner 4 software, social network analysis is conducted and IS-PBSC risk network is established to reveal critical risk nodes and interactions. Finally, further targeted discussion of critical risk nodes, the effectiveness and reasonableness of the risk mitigation strategies are proposed and verified through NetMiner 4 software simulation.

The results show that the critical risks cover the entire process of information sharing, with the lack of information management norms and other information assurance-related risks accounting for the largest proportion. In addition, the government dominates in risk control, followed by other stakeholders. The implementation of risk mitigation strategies is effective, with the overall network density reduced by 41.15% and network cohesion reduced by 24%.

In the context of Industry 4.0, ICT represented by information technology and networking will undoubtedly provide new impetus to the development of the PBSC, but they will also bring various potential risks. So far, there is a large lack of research on the comprehensive consideration of the risks associated with the intelligent transformation of PBSC based on the information sharing perspective, and the critical risks and interactions are still unclear, making it difficult to identify efficient risk mitigation strategies.

Based on the results of risk network visualization analysis, this paper proposes an ICT-based IS-PBSC mechanism that promotes the development of the integration of ICT and PBSC while safeguarding the benefits of various stakeholders.

This study aims to develop an interface management risk interaction modeling and analysis methodology applicable to complex systems in high-speed rail construction projects, reveal the interaction mechanism of interface management risk and provide theoretical support for project managers to develop appropriate interface management risk response strategies.

This paper introduces the association rule mining technique to improve the complex network modeling method. Taking China as an example, based on the stakeholder perspective, the risk factors and significant accident types of interface management of high-speed rail construction projects are systematically identified, and a database is established. Then, the Apriori algorithm is used to mine and analyze the strong association rules among the factors in the database, construct the complex network, and analyze its topological characteristics to reveal the interaction mechanism of the interface management risk of high-speed rail construction projects.

The results show that the network is both scale-free and small-world, implying that construction accidents are not random events but rather the result of strong interactions between numerous interface management risks. Contractors, technical interfaces, mechanical equipment, and environmental factors are the primary direct causal factors of accidents, while owners and designers are essential indirect causal factors. The global importance of stakeholders such as owners, designers, and supervisors rises significantly after considering the indirect correlations between factors. This theoretically explains the need to consider the interactions between interface management risks.

The interaction mechanism between interface management risks is unclear, which is an essential factor influencing the decision of risk response measures. This study proposes a new methodology for analyzing interface management risk response strategies that incorporate quantitative analysis methods and considers the interaction of interface management risks.

Power plant projects are very complex and encounter serious cost overruns worldwide. Their cost overrun risks are not independent but interrelated in many cases, having structural relationships among each other. The purpose of this study is, therefore, to establish the complex structural relationships of risks involved.

In total, 76 published articles from the previous literature are reviewed using the content analysis method. Three risk networks in different phases of power plant projects are depicted based on literature review and case studies. The possible methods of solving these risk networks are also discussed.

The study finds critical cost overrun risks and develops risk networks for the procurement, civil and mechanical works of power plant projects. It identifies potential models to assess cost overrun risks based on the developed risk networks. The literature review also revealed some research gaps in the cost overrun risk management of power plants and similar infrastructure projects.

This study will assist project risk managers to understand the potential risks and their relationships to prevent and mitigate cost overruns for future power plant projects. It will also facilitate decision-makers developing a risk management framework and controlling projects’ cost overruns.

The study presents conceptual risk networks in different phases of power plant projects for comprehending the root causes of cost overruns. A comparative discussion of the relevant models available in the literature is presented, where their potential applications, limitations and further improvement areas are discussed to solve the developed risk networks for modeling cost overrun risks.

Considering the frequency of extreme events, enhancing the global financial system's stability has become crucial. This study aims to investigate the contagion effects of extreme risk events in the international commodity market on China's financial industry. It highlights the significance of comprehending the origins, severity and potential impacts of extreme risks within China's financial market.

This study uses the tail-event driven network risk (TENET) model to construct a tail risk spillover network between China's financial market and the international commodity market. Combining with the characteristics of the network, this study employs an autoregressive distributed lag (ARDL) model to examine the factors influencing systemic risks in China's financial market and to explore the early identification of indicators for systemic risks in China's financial market.

The research reveals a strong tail risk contagion effect between China's financial market and the international commodity market, with a more pronounced impact from the latter to the former. Industrial raw materials, food, metals, oils, livestock and textiles notably influence China's currency market. The systemic risk in China's financial market is driven by systemic risks in the international commodity market and network centrality and can be accurately predicted with the ARDL-error correction model (ECM) model. Based on these, Chinese regulatory authorities can establish a monitoring and early warning mechanism to promptly identify contagion signs, issue timely warnings and adjust regulatory measures.

This study provides new insights into predicting systemic risk in China's financial market by revealing the tail risk spillover network structure between China's financial and international commodity markets.

Clarifying the risk evolution mechanism of housing construction for work-safety management is essential. Existing studies have inadequately discussed the risk-accumulation process in housing construction. Therefore, this study aimed to use the complex network theory and risk allocation mechanisms to explore the evolution of risk factors.

The authors analysed a database of housing construction accidents in China from 2015 to 2020 to identify risk factors. Moreover, the causal relationship between risk factors was determined through a systematic analysis of the logical sequence of risk factors. A complex network was used to construct a risk network for housing construction accidents (RNHCA).

The risk matrix method was used to define the factor risk threshold, and a risk value was assigned based on the correlation between risk factors. This contributes to the examination of the evolution mechanism of risk networks in the process of risk factor transmission. The case verification results show that the RNHCA quantitative assessment model can better evaluate the system risk status of housing construction accidents. Furthermore, this model can identify the key risk factors and risk chains with high risk in the evolution of the risk network.

Accident investigation reports need to be classified and processed to analyse the evolution law of risk networks under different scales of construction project, such as high-rise buildings, middle-rise buildings, and low-rise buildings.

This study clarified the risk evolution process of complex systems in housing construction and provided a new method for analysing accidents.

This study clarifies the risk value allocation of risk factors in the transmission process and reveals the process of risk factor evolution in housing construction. This study explains the individual risk factors that form a systemic risk through the transmission chain. Moreover, this paper clarified the transformation relationship between system risk and accidents. The paper also provided a new perspective for risk analysis.

The purpose of this paper is to develop a novel risk analysis method named fuzzy critical risk analysis (FCRA) for assessing the infrastructure risks from a risk-community network perspective. The basis of this new FCRA method is the integration of existing risk magnitude analysis with the novel risk impact propagation analysis performed in specific infrastructure systems to assess the criticality of risk within specific social-infrastructure interrelated network boundary.

The FCRA uses a number of scientific methods such as failure mode effect and criticality analysis (FMECA), social network analysis (SNA) and fuzzy-set theory to facilitate the building of risk evaluation associated with the infrastructure and the community. The proposed FCRA approach has been developed by integrating the fuzzy-based social network analysis (FSNA) method with conventional fuzzy FMECA method to analyse the most critical risk based on risk decision factors and risk impact propagation generated by various stakeholder perceptions.

The application of FSNA is considered to be highly relevant for investigating the risk impact propagation mechanism based on various stakeholder perceptions within the infrastructure risk interrelation and community networks. Although conventional FMECA methods have the potential for resulting in a reasonable risk ranking based on its magnitude value within the traditional risk assessment method, the lack of considering the domino effect of the infrastructure risk impact, the various degrees of community dependencies and the uncertainty of various stakeholder perceptions made such methods grossly ineffective in the decision-making of risk prevention (and mitigation) and resilience context.

The validation of the model is currently based on a hypothetical case which in the future should be applied empirically based on a real case study.

Effective functioning of the infrastructure systems for seamless operation of the society is highly crucial. Yet, extreme events resulted in failure scenarios often undermine the efficient operations and consequently affect the community at multiple levels. Current risk analysis methodologies lack to address issues related to diverse impacts on communities and propagation of risks impact within the infrastructure system based on multi-stakeholders’ perspectives. The FCRA developed in this research has been validated in a hypothetical case of infrastructure context. The proposed method will potentially assist the decision-making regarding risk governance, managing the vulnerability of the infrastructure and increasing both the infrastructure and community resilience.

The new approach developed in this research addresses several infrastructure risks assessment challenges by taking into consideration of not only the risk events associated with the infrastructure systems but also the dependencies of various type communities and cascading effect of risks within the specific risk-community networks. Such a risk-community network analysis provides a good basis for community-based risk management in the context of mitigation of disaster risks and building better community resilient.

The novelty of proposed FCRA method is realized due to its ability for improving the estimation accuracy and decision-making based on multi-stakeholder perceptions. The process of assessment of the most critical risks in the hypothetical case project demonstrated an eminent performance of FCRA method as compared to the results in conventional risk analysis method. This research contributes to the literature in several ways. First, based on a comprehensive literature review, this work established a benchmark for development of a new risk analysis method within the infrastructure and community networks. Second, this study validates the effectiveness of the model by integrating fuzzy-based FMECA with FSNA. The approach is considered useful from a methodological advancement when prioritizing similar or competing risk criticality values.

The purpose of the paper is to develop a conceptual framework for improving the effectiveness of risk management in supply networks following a critical literature review.

A critical review of 91 scholarly journal articles published between 2000 and 2018 supports the development of an integrated conceptual framework.

The findings emphasize that supply chain integration (SCI) can have both a positive and negative impact on the effectiveness of risk management in supply networks. It is possible to have a positive effect when SCI can be used to develop competencies in joint risk planning within the organization and with wider supply network members and, in turn, to develop collaborative risk management capabilities. Supply network characteristics can influence whether and the extent to which SCI has a positive or negative impact on risk management effectiveness.

The conceptual framework can be used to empirically assess the role of SCI for effective risk management. Dynamic evaluation of the effectiveness of risk management and potential redesign of the supply network by considering other contingent factors are some future research avenues.

There is a need for developing specific competencies in risk planning within organizations and joint risk planning with supply network members which, in turn, can help develop collaborative risk management capabilities to improve the effectiveness of risk management in supply networks. Network characteristics will influence whether and the extent to which SCI results in the effectiveness of risk management.

Moving beyond recent (systematic) reviews on supply chain risk management, this study develops a novel conceptual framework interlinking SCI and the effectiveness of risk management while considering network characteristics.

As organizations increase their dependence on supply chain networks, they become more susceptible to their suppliers’ disaster risk profiles, as well as other categories of risk associated with supply chains. Therefore, it is imperative that supply chain network participants are capable of assessing the disaster risks associated with their supplier base. The purpose of this paper is to assess the supplier disaster risks, which are a key element of external risk in supply chains.

The study participants are 15 automotive casting suppliers who display a significant degree of disaster risks to a major US automotive company. Bayesian networks are used as a methodology for examining the supplier disaster risk profiles for these participants.

The results of this study show that Bayesian networks can be effectively used to assist managers in making decisions regarding current and prospective suppliers vis-à-vis their potential revenue impact as illustrated through their corresponding disaster risk profiles.

A limitation to the use of Bayesian networks for modeling disaster risk profiles is the proper identification of risk events and risk categories that can impact a supply chain.

The methodology used in this study can be adopted by managers to assist them in making decisions regarding current or prospective suppliers vis-à-vis their corresponding disaster risk profiles.

As part of a comprehensive supplier risk management program, organizations along with their suppliers can develop specific strategies and tactics to minimize the effects of supply chain disaster risk events.

The purpose of this paper is to develop and operationalize a process for prioritizing supply chain risks that is capable of capturing the value at risk (VaR), the maximum loss expected at a given confidence level for a specified timeframe associated with risks within a network setting.

The proposed “Worst Expected Best” method is theoretically grounded in the framework of Bayesian Belief Networks (BBNs), which is considered an effective technique for modeling interdependency across uncertain variables. An algorithm is developed to operationalize the proposed method, which is demonstrated using a simulation model.

Point estimate-based methods used for aggregating the network expected loss for a given supply chain risk network are unable to project the realistic risk exposure associated with a supply chain. The proposed method helps in establishing the expected network-wide loss for a given confidence level. The vulnerability and resilience-based risk prioritization schemes for the model considered in this paper have a very weak correlation.

This paper introduces a new “Worst Expected Best” method to the literature on supply chain risk management that helps in assessing the probabilistic network expected VaR for a given supply chain risk network. Further, new risk metrics are proposed to prioritize risks relative to a specific VaR that reflects the decision-maker's risk appetite.

The purpose of this paper is to provide a methodology for benchmarking supplier risks through the creation of Bayesian networks. The networks are used to determine a supplier's external, operational, and network risk probability to assess its potential impact on the buyer organization.

The research methodology includes the use of a risk assessment model, surveys, data collection from internal and external sources, and the creation of Bayesian networks used to create risk profiles for the study participants.

It is found that Bayesian networks can be used as an effective benchmarking tool to assist managers in making decisions regarding current and prospective suppliers based upon their potential impact on the buyer organization, as illustrated through their associated risk profiles.

A potential limitation to the use of the methodology presented in the study is the ability to acquire the necessary data from current and potential suppliers needed to construct the Bayesian networks.

The methodology presented in this paper can be used by buyer organizations to benchmark supplier risks in supply chain networks, which may lead to adjustments to existing risk management strategies, policies, and tactics.

This paper provides practitioners with an additional tool for benchmarking supplier risks. Additionally, it provides the foundation for future research studies in the use of Bayesian networks for the examination of supplier risks.