Identifying key risks in infrastructure projects – Case study of Cairo Festival City project in Egypt

Khodeir, Laila; Nabawy, Mohamed

doi:10.1016/j.asej.2018.11.003

Cited by 34 publications

(26 citation statements)

References 10 publications

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“…[53] Technology changes (R63) Technology (e.g., process flow and design drawings) incurs significant changes in the PP. [54,55] Lack of sharing technology among projects (R64)…”

Section: Weak Technology Maturity (R61)mentioning

confidence: 99%

Project Portfolio Resource Risk Assessment considering Project Interdependency by the Fuzzy Bayesian Network

et al. 2020

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Resource risk caused by specific resource sharing or competition among projects due to resource constraints is a major issue in project portfolio management, which challenges the application of risk analysis methods effectively. This paper presents a methodology by using a fuzzy Bayesian network to assess the project portfolio resource risk, determine critical resource risk factors, and propose risk-reduction strategies. In this method, the project portfolio resource risk factors are first identified by taking project interdependency into consideration, and then the Bayesian network model is developed to analyze the risk level of the identified risk factors in which expert judgments and fuzzy set theory are integrated to determine the probabilities of all risk factors to deal with incomplete risk data and information. To reduce the subjectivity of expert judgments, the expert weights are determined by combining experts’ background and reliability degree of expert judgments. A numerical analysis is used to demonstrate the application of the proposed methodology. The results show that project portfolio resource risks can be analyzed effectively and efficiently. Furthermore, “poor communication and cooperation among projects,” “capital difficulty,” and “lack of sharing technology among projects” are considered the leading factors of the project portfolio resource risk. Risk-reduction strategic decisions based on the results of risk assessment can be made, which provide project managers with a useful method or tool to manage project risks.

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“…[53] Technology changes (R63) Technology (e.g., process flow and design drawings) incurs significant changes in the PP. [54,55] Lack of sharing technology among projects (R64)…”

Section: Weak Technology Maturity (R61)mentioning

confidence: 99%

Project Portfolio Resource Risk Assessment considering Project Interdependency by the Fuzzy Bayesian Network

et al. 2020

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“…is section introduces project complexity and its consequences and then Project Risk Management processes and heuristics-based [28,29], and analytical methods [30][31][32][33][34][35].…”

Section: Research Questionmentioning

confidence: 99%

An Assistance to Project Risk Management Based on Complex Systems Theory and Agile Project Management

Marle

2020

Complexity

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Project Risk Management is crucial in determining the future performance of a complex project. Increasing project complexity makes it more and more difficult to anticipate potential events that could affect the project and to make effective decisions to reduce project risk exposure. To tackle these conceptual and managerial issues, the proposed approach introduces Complex Systems Theory-based improvements into some PRM subprocesses and runs the global PRM process using Agile Project Management principles. We argue that these advanced techniques for managing project risk complexity, notably risk interdependencies, are coherent with the distributed, self-organized nature of agile teams. This new way of structuring and executing Project Risk Management offers the possibility to make decisions more frequently, when needed, with a more distributed authority, and with richer information about anticipation of events and consequences of actions. First results show an appropriation of this combined approach by project members due to agile principles that allows for getting the more reliable information promised by Complex Systems Theory.

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“…Over the time, Construction industry has become more complex. The identification of project objectives itself turns to vagueness in many projects [14], [15]. Additionally, construction projects started to include several parties with different levels of expectation and experience [16].…”

Section: Risk Management In Construction Projectsmentioning

confidence: 99%

“…Respondent experience in terms of years, which is divided into four groups; (0-5),(5)(6)(7)(8)(9)(10),(10)(11)(12)(13)(14)(15)(16)(17)(18)(19)(20), and (More than 20) 2. Company characteristics, labelled to four categories (Engineering Consultant, Contractor, Developer, and Others).…”

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confidence: 99%

Appraisal for the Evolution of Risk in Construction Industry

2020

IJATCSE

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The construction industry plays a crucial role in any country's economy, especially in the developing countries where there exist quite a number of opportunities for construction projects. Nevertheless, the construction industry, here and there, is exposed to different types of risks that limit the chances of successful completion of projects. This study presents an investigation of the most critical risk factors that are tackling the construction projects in Egypt for the past five years. As well, the study monitors the differences in perception of risk criticality between the key participants of the construction projects, customers, engineering consultants, and contractors. Statistical analysis is conducted to identify and categorize the criticality of each risk factor. Results revealed that the most critical risks are proportionately stem from internal and external sources of the organization. Critical internal sources include financial issues, technical deficiencies and ineffective project management while external sources include changes of the economic and political circumstances as well as the continuous changes of customer requirements.

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Identifying key risks in infrastructure projects – Case study of Cairo Festival City project in Egypt

Cited by 34 publications

References 10 publications

Project Portfolio Resource Risk Assessment considering Project Interdependency by the Fuzzy Bayesian Network

Project Portfolio Resource Risk Assessment considering Project Interdependency by the Fuzzy Bayesian Network

An Assistance to Project Risk Management Based on Complex Systems Theory and Agile Project Management

Appraisal for the Evolution of Risk in Construction Industry

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