Investigating the effect of risk reduction strategies on the construction of mega infrastructure project (MIP) success: a SEM-ANN approach

Malek, MohammedShakil S.; Bhatt, Viral

doi:10.1108/ecam-12-2022-1166

Cited by 4 publications

(1 citation statement)

References 85 publications

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“…As mentioned before, the success of projects depends significantly on the role of project managers, especially in their political acumen [28][29][30][31][32]. In this regard, the primary objective of this research is to explore the role of project managers' political skills in augmenting the effectiveness of quality management practices, subsequently impacting the success of inter-organizational construction projects in Pakistan.…”

Section: Research Strategymentioning

confidence: 99%

Effect of Construction Manager's Political Skills on Relationship between Quality Management Practices and Inter-Organizational Project Success

Khan,

Naimi

2024

Civ Eng J

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This study aims to explore the impact of construction managers' political skills on the relationship between quality management practices and the success of inter-organizational construction projects in Pakistan. Objectively, it examines how project managers' political acumen influences the effectiveness of quality management strategies and, consequently, project success. Employing a survey-based methodology, the research encompasses a broad spectrum of professionals involved in various construction projects across Pakistan. Through this analysis, the study identifies key challenges to project success and assesses the correlation between managerial political skills and the effective implementation of quality management practices. The findings reveal a notable positive relationship between these elements, highlighting the critical role of skills such as communication, stakeholder management, and conflict resolution. Additionally, the research underscores the interconnected nature of managerial competencies and identifies key factors impacting project success through advanced statistical techniques like principal component analysis and median absolute deviation. Significantly, this research provides novel insights into the role of human factors in the Pakistani construction industry's project management, proposing actionable strategies for skill enhancement and offering a comprehensive overview of factors influencing project success. These findings not only show the current skills and practices landscape but also lay the groundwork for future research and strategy implementation to boost industry-wide success. Doi: 10.28991/CEJ-2024-010-01-019 Full Text: PDF

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Section: Research Strategymentioning

confidence: 99%

Effect of Construction Manager's Political Skills on Relationship between Quality Management Practices and Inter-Organizational Project Success

Khan,

Naimi

2024

Civ Eng J

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Unveiling the Future: Decrypting Mobile Investment Resistance with Multi-Stage SEM-ANN-NCA Approach

Choksi,

Bhatt

2024

International Journal of Human–Computer Interaction

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Dynamic incentive mechanisms in mega project-risk management considering the participation of the insurance company

Shi,

Yao,

et al. 2024

ECAM

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PurposeThe construction of megaprojects often involves substantial risks. While insurance plays an important role as a traditional risk transfer means, owners and insurance companies may still suffer huge losses during the risk management process. Therefore, considering the strong motivation of insurance companies to participate in the on-site risk management of megaprojects, this study aims to propose a collaborative incentive mechanism involving insurance companies, to optimize the risk management effect and reduce the risk of accidents in megaprojects.Design/methodology/approachBased on principal-agent theory, the research develops the static and dynamic incentive models for risk management in megaprojects, involving both the owner and insurance company. The study examines the primary factors influencing incentive efficiency. The results are numerically simulated with a validation case. Finally, the impact of parameter changes on the stakeholders' benefits is analyzed.FindingsThe results indicate that the dynamic incentive model is available to the achievement of a flexible mechanism to ensure the benefits of contractors while protecting the benefits of the owner and insurance company. Adjusting the incentive coefficients for owners and insurance companies within a specified range promotes the growth of benefits for all parties involved. The management cost and economic benefit allocation coefficients have a positive effect on the adjustment range of the incentive coefficient, which helps implement a more flexible dynamic incentive mechanism to motivate contractors to carry out risk management to reduce risk losses.Originality/valueThis study makes up for the absence of important stakeholders in risk management. Different from traditional megaproject risk management, this model uses insurance companies as bridges to break the island effect of risk management among multiple megaprojects. This study contributes to the body of knowledge by designing appropriate dynamic incentive mechanisms in megaproject risk management through insurance company participation, and provides practical implications to both owner and insurance company on incentive contract making, thus achieving better risk governance of megaprojects.

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Investigating the effect of risk reduction strategies on the construction of mega infrastructure project (MIP) success: a SEM-ANN approach

Cited by 4 publications

References 85 publications

Effect of Construction Manager's Political Skills on Relationship between Quality Management Practices and Inter-Organizational Project Success

Effect of Construction Manager's Political Skills on Relationship between Quality Management Practices and Inter-Organizational Project Success

Unveiling the Future: Decrypting Mobile Investment Resistance with Multi-Stage SEM-ANN-NCA Approach

Dynamic incentive mechanisms in mega project-risk management considering the participation of the insurance company

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