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1 – 10 of over 10000
Article
Publication date: 28 May 2020

Satish Kumar Viswanathan and Kumar Neeraj Jha

A number of previous studies have investigated international construction project risks and have proposed risk mitigation measures without examining their interdependence. The…

Abstract

Purpose

A number of previous studies have investigated international construction project risks and have proposed risk mitigation measures without examining their interdependence. The purpose of the current study is to identify the influence of various risk mitigation measures on macro-level risk factors in the international marketplace.

Design/methodology/approach

The authors initially identified 26 risk variables and nine risk mitigation measures through a literature review, which were then verified for their pertinence to international projects by three experts. Subsequently, 105 questionnaire survey responses were collected and analysed using factor analysis and structural equation modelling to test the interrelations between the risk variables and mitigation measures.

Findings

The findings suggest that joint ventures with local partners is emerged as the most critical risk mitigation measure that influences the international projects, which are exposed to political, project and firm-specific risk factors. Further, it is worth noting that among the recognised risk mitigation measures in international projects, offering more local employment is the least critical mitigation measure in the international projects.

Research limitations/implications

The findings of this study are based on the macro-risk factors encountered by Indian construction firms in international projects, mostly from specific Asian and African regions. Thus, the opinions of construction firms from the developed countries might be different.

Originality/value

The main contribution of this study to existing knowledge is empirical evidence of the interrelationships between risk mitigation measures and risk factors that are portrayed as latent variables of different manifest risk variables. The generated model can assist construction firms in emphasising several risk mitigation methods, in order to reduce risk and enhance performance in international construction projects.

Details

Engineering, Construction and Architectural Management, vol. 27 no. 9
Type: Research Article
ISSN: 0969-9988

Keywords

Content available
Book part
Publication date: 13 November 2018

Lana Kay Coble

Abstract

Details

Collaborative Risk Mitigation Through Construction Planning and Scheduling
Type: Book
ISBN: 978-1-78743-148-5

Article
Publication date: 14 March 2022

Atul Rawat, Sumeet Gupta and T. Joji Rao

This study aims to focus on identifying the business risks that cause a delay in the oil and gas projects and suggest the way forward toward the better development of the city gas…

Abstract

Purpose

This study aims to focus on identifying the business risks that cause a delay in the oil and gas projects and suggest the way forward toward the better development of the city gas distribution (CGD) sector in India by suggesting the appropriate mitigation strategies.

Design/methodology/approach

The study is a systematic review of literature on risks causing a delay in oil and gas projects. Comprehensive literature was carried out following a seven-step model to develop an exhaustive list of risk classifications and factors, risk identification methods and strategies to mitigate the risks. Weighted average ranking method is used to identify the top ten risks affecting oil and gas projects.

Findings

This research identifies the top ten risks frequently impacting the oil and gas projects, which are project cost, improper project management, change in economic parameters, currency exchange rate, government regulations and laws, contractor and subcontractors issues, lack of skilled labor, delay in approvals, health and safety issues and force majeure. These risks are primarily responsible for cost overrun and project delay. Additionally, this study recommends the implementation of joint risk management to avoid CGD project delay.

Originality/value

The CGD industry is in the growing stage with many projects under construction. However, there is a lack of research to manage risks in the CGD project. This study contributes to the limited literature available on risk management in oil and gas projects. Additionally, it highlights the need for further research to explore the different risks factors affecting the CGD business and its operations and subsequently develop appropriate mitigation strategies.

Details

International Journal of Energy Sector Management, vol. 17 no. 1
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 19 June 2021

Atul Rawat, Sumeet Gupta and T. Joji Rao

This study aims to identify the operational and financial risks associated with the city gas distribution project in India and suggest appropriate strategies to mitigate them.

Abstract

Purpose

This study aims to identify the operational and financial risks associated with the city gas distribution project in India and suggest appropriate strategies to mitigate them.

Design/methodology/approach

This study aims to identify the operational and financial risks associated with the city gas distribution project in India and suggest appropriate strategies to mitigate them. The survey data is evaluated using factor analysis to understand the latent structure of the critical risk factors. Second, the author uses Situation, Actor and Process–Learning, Action and Performance framework to suggest the mitigation strategies for the identified operational and financial risk factors.

Findings

The research identified five critical risk factors and suggested 39 mitigation strategies to address operational and risk factors impacting CGD projects. The findings of this research will enable the CGD companies to formulate long-term strategies for their business and adopt proactive measures to mitigate the operational and financial risks causing delay and increasing project costs. This study also highlights the importance of government support in developing a conducive environment for CGD industry to thrive.

Originality/value

The CGD projects are critical for natural gas growth in India’s energy mix. The project delay leads to a rise in the total cost involved and increases the payback period for the CGD companies. To the best of authors’ knowledge, this research is first of its kind that identifies the critical operational and financial risks affecting CGD projects in India and suggests the mitigating strategies for them.

Details

International Journal of Energy Sector Management, vol. 15 no. 5
Type: Research Article
ISSN: 1750-6220

Keywords

Abstract

Details

Collaborative Risk Mitigation Through Construction Planning and Scheduling
Type: Book
ISBN: 978-1-78743-148-5

Article
Publication date: 3 October 2016

Suhaiza Zailani, Hazrina Aziz Md. Ariffin, Mohammad Iranmanesh, Soroush Moeinzadeh and Masoomeh Iranmanesh

This paper aims to explore the relationship between delay factors and construction project performance with respect to project risk mitigation strategies as moderators.

2008

Abstract

Purpose

This paper aims to explore the relationship between delay factors and construction project performance with respect to project risk mitigation strategies as moderators.

Design/methodology/approach

Random sampling was used to select the sample of the study. Data were gathered through a survey of 204 Malaysian construction companies. The data were analysed using the partial least squares technique.

Findings

The results indicate that environmental, resource and coordination issues negatively affect construction project performance. Project visibility and flexibility can mitigate the negative effects of both resource and coordination issues on project performance. Furthermore, supplier development can mitigate the negative effects of coordination issues.

Practical implications

The findings of the study will be useful for construction firms to complete construction projects timely, within a scheduled budget and with only minor defects if adopted.

Originality/value

This study is among the first to empirically test the moderating role of risk mitigation strategies on the relationship between delay factors and project performance in the construction industry.

Details

Journal of Science and Technology Policy Management, vol. 7 no. 3
Type: Research Article
ISSN: 2053-4620

Keywords

Open Access
Article
Publication date: 11 January 2016

Bruno Locatelli, Giacomo Fedele, Virginie Fayolle and Alastair Baglee

As adaptation and mitigation are separated in international and national policies, there is also a division in the financial resources mobilized by the international community to…

7779

Abstract

Purpose

As adaptation and mitigation are separated in international and national policies, there is also a division in the financial resources mobilized by the international community to help developing countries deal with climate change. Given that mitigation activities can benefit or hinder adaptation, and vice versa, promoting activities that contribute to both objectives can increase the efficiency of fund allocation and minimize trade-offs, particularly in land-related activities such as agriculture and forestry. The purpose of this study is to analyze how climate funding organizations consider the integration of adaptation and mitigation.

Design/methodology/approach

The authors interviewed representatives of climate funds directed toward forestry and agriculture to gain a better understanding of how they perceive the benefits, risks and barriers of an integrated approach; whether they have concrete activities for promoting this approach; and how they foresee the future of adaptation–mitigation integration.

Findings

Interviews revealed a diverse range of perceived benefits, risks and barriers at local, national and global scales. Most interviewees focused on the local benefits of this integration (e.g. increasing the resilience of forest carbon projects), whereas others emphasized global risks (e.g. decreasing global funding efficiency because of project complexity). Despite the general interest in projects and policies integrating adaptation and mitigation, few relevant actions have been implemented by organizations engaged in climate change finance.

Originality/value

This paper provides new insight into how the representatives of climate funds perceive and act on the integration of adaptation and mitigation in forestry and agriculture. The findings by the authors can inform the development of procedures for climate change finance, such as the Green Climate Fund. While managers of climate funds face barriers in promoting an integrated approach to adaptation and mitigation, they also have the capacity and the ambition to overcome them.

Details

International Journal of Climate Change Strategies and Management, vol. 8 no. 1
Type: Research Article
ISSN: 1756-8692

Keywords

Article
Publication date: 18 October 2022

Arik Sadeh, Ofer Zwikael and Jack Meredith

As managing risks effectively is critical for successful projects, project managers regularly identify and prioritize the risks that apply to their projects. However, research…

Abstract

Purpose

As managing risks effectively is critical for successful projects, project managers regularly identify and prioritize the risks that apply to their projects. However, research argues that project managers struggle to identify effective risk mitigation approaches for the most critical risks, partly because they do not always have the required authority to act effectively. The authors argue that, particularly in high-risk projects, organizational support (OS) provided by senior executives to project managers can facilitate a practical approach to risk mitigation beyond traditional risk management practices.

Design/methodology/approach

The authors modeled the relationship between risk, organizational support and project success. Then, the authors conducted a structural equation modeling analysis on survey data obtained from 722 projects and tested for the impacts of OS practices in the presence of risk on projects' success.

Findings

Suppose done effectively, senior executives can provide more support to project managers and the teams in high-risk projects, resulting in higher project success. OS has a positive impact on project success in terms of efficiency and effectiveness. Interestingly, the positive impact of OS on success is greater than the negative impact of the risk.

Practical implications

The paper further describes various effective OS practices to mitigate risks and explore opportunities when faced with high-risk projects.

Originality/value

Whereas it is known that risk has a negative impact on project success, this paper suggests that, in addition to that, OS is in between risk and success and has an impact on this relationship (mediation). Moreover, with OS, the total negative effect of risk on effectiveness turns into a positive impact.

Details

International Journal of Managing Projects in Business, vol. 15 no. 7
Type: Research Article
ISSN: 1753-8378

Keywords

Article
Publication date: 3 January 2017

Jennifer Firmenich

The purpose of this paper is to emphasise on the need for efficient and effective project risk management practices and to support project managers in increasing the cost…

3564

Abstract

Purpose

The purpose of this paper is to emphasise on the need for efficient and effective project risk management practices and to support project managers in increasing the cost certainty of projects by proposing a new framework for project risk management.

Design/methodology/approach

The author adopts a “constructivist” methodology, drawing on practices common in construction management sciences and new institutional economics.

Findings

The author presents a holistic and customisable project risk management framework that is grounded in both practice and academia. The framework is holistic because, amongst others, all steps of the typical risk management process are addressed. The framework is customisable, because it allows for alternative ways of implementing the project risk management steps depending on the project-specific circumstances.

Research limitations/implications

The framework does not address the potential unwillingness of the project players to set up a project risk management process, at all. The proposed framework has not yet been tested empirically. Future research will seek to validate the framework.

Originality/value

The framework is designed to account for the difficult circumstances of a complex construction project. It is intended to support decision makers in customising a practical yet comprehensive project risk management concept to the characteristics of the unique project. Although many other project risk management concepts are designed based on the assumption that actors are perfectly rational and informed, this framework’s design is based on the opposite assumption. The framework is dynamic and should adapt over time.

Details

Construction Innovation, vol. 17 no. 1
Type: Research Article
ISSN: 1471-4175

Keywords

Article
Publication date: 15 May 2017

Collins Ameyaw and Hans Wilhelm Alfen

The purpose of this paper is to identify the risks associated with private sector participation (PSP) in power generation (PG) projects, how they were allocated and the strategies…

Abstract

Purpose

The purpose of this paper is to identify the risks associated with private sector participation (PSP) in power generation (PG) projects, how they were allocated and the strategies used to mitigate their likely adverse effects.

Design/methodology/approach

The paper adopts case study research method and cross-case analyses to unearth the key risks and the contractual instruments used to manage them.

Findings

The paper identified 30 risk factors associated with four major private sector PG projects in Ghana. The allocation and mitigation strategies of these risks are also reported.

Originality/value

This is the first study to create a risk register of PSP PG projects. Private investors and government have been provided with a comprehensive list of risks associated with PG infrastructure. Would-be investors have also been armed with some potential risk management strategies for proper project structuring.

Details

Journal of Facilities Management, vol. 15 no. 2
Type: Research Article
ISSN: 1472-5967

Keywords

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