Influence of risk mitigation measures on international construction project success criteria – a survey of Indian experiences

Satish Kumar Viswanathan · Kamalendra Kumar Tripathi · Kumar Neeraj Jha

63 citations0/0 files storedConstruction Management and Economics

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Construction Project Management and Performance Public-Private Partnership Projects Value Engineering and Management

Abstract

Despite globalisation bringing diverse opportunities for construction firms from developing countries, executing international construction projects entails many risks. Several past studies illustrate the risks faced by firms in international construction projects and recommend various risk mitigation measures without revealing their effect on project success criteria. In order to fill this knowledge gap, this study aims to test the influence of identified risk mitigation measures on project success criteria. To achieve this, nine risk mitigation measures and three project success criteria—cost performance, schedule performance and firm’s performance—were identified through a literature review. After verifying the identified risk mitigation measures and project success criteria with a preliminary study, a questionnaire was administered to experts who possess adequate knowledge in international construction projects. The collected data from 105 questionnaires were analyzed, grouped and modelled using factor analysis and structural equation modelling (SEM). Application of factor analysis to identify the correlated risk mitigation measures extracted three risk mitigation factors, namely pre-project planning, local participation and contract selection. Furthermore, the influence of risk mitigation factors on project success criteria is hypothesized and tested using SEM. Amongst the identified risk mitigation factors, local participation emerges as the most influencing factor on project success criteria followed by contract selection and pre-project planning. The generated model would enable construction firms from India and similar developing countries to focus on identified risk mitigation factors to achieve improved project success criteria and project management success.

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References

2002The “real” success factors on projects 1988Measurement of project success 2007Understanding the key risks in construction projects in China 1997Risk analysis and management in construction 2007Risk assessment and allocation in the UAE construction industry 2004Risk management framework for construction projects in developing countries 2014A critical review of structural equation modeling applications in construction research 2004A study on project success factors in large construction projects in Vietnam

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2020Critical risk factors in international construction projects 2021Interenterprise Collaboration Network in International Construction Projects: Evidence from Chinese Construction Enterprises 2023Application of Factor Analysis and Structure Equation Modelling for Evaluation of Key Performance Indicators for Development of Sustainable Transportation Infrastructure

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