Risk identification and mitigation for architectural, engineering, and construction firms operating in the Gulf region

Abdul-RahmanHamzah,; Loo, Siaw Chuing; Chen, Wang

doi:10.1139/l11-111

Cited by 18 publications

(22 citation statements)

References 25 publications

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“…Cronbach’s alpha was calculated first to confirm the reliability of the research instrument. The results of 0.95 and 0.94 for the probabilities and the consequences, respectively, suggest that the questionnaire adopted was sufficiently reliable (Abdul-Rahman et al , 2011). To analyze the probability and severity of each risk, arithmetic means and rank orders of the 35 risk factors were calculated.…”

Section: Analysis Of Qualitative Resultsmentioning

confidence: 94%

“… 1: Zou et al (2008); 2: Zou et al (2007); 3: Perera et al (2014); 4: Ke et al (2011); 5: Kynn (2008); 6: Abdul-Rahman et al (2011); 7: Zegordi et al (2012); 8: Chan et al (2011); 9: Enshassi et al (2009); 10: Frimpong et al (2003); 11: Abdullah et al (2011); 12: Mahamid (2011); 13: Ke et al (2010); 14: Flyvbjerg (2013); 15: Knight and Robinson Fayek (2002); 16: Dikmen et al (2007); 17: Manelele and Muya (2008); 18: Tsai and Yang (2009); 19: Creedy et al (2010); 20: Iyer and Sagheer (2009); 21: Eybpoosh et al (2011); 22: Kucukali (2011); 23: Love and Sing (2013) …”

Section: Figurementioning

confidence: 99%

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Lifecycle cost risk analysis for infrastructure projects with modified Bayesian networks

Xia

Wang

et al. 2017

JEDT

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Purpose Previous research has little specific guidance on how to improve large infrastructures’ risk analysis. This paper aims to propose a practical risk analysis framework across the project lifecycle with Bayesian Networks (BNs). Design/methodology/approach The framework includes three phases. In the qualitative phase, primary risks were identified by literature reviews and interviews; questionnaires were used to determine key risks at each project stage and causal relationships between stage-related risks. In the quantitation, brainstorming and questionnaires, and techniques of ranked nodes/paths, risk map and Bayesian truth serum were adopted. Then, a BN-based risk assessment model was developed, and risk analysis was conducted with AgenaRisk software. Findings Twenty key risks across the lifecycle were determined: some risks were recurring and different risks emerged at various stages with the construction and feasibility most risky. Results showed that previous stages’ risks significantly amplified subsequent stages’ risks. Based on the causality of stage-related risks, a qualitative model was easily constructed. Ranked nodes/paths facilitated the quantification by requiring less statistical knowledge and fewer parameters than traditional BNs. As articulated by a case, this model yielded very simple and easy-to-understand representations of risks and risk propagation pathways. Originality/value Rare research has developed a BN risk assessment model from the perspective of project stages. A structured model, a propagation network among individual risks, stage-related risks, and the final adverse consequence, has been designed. This research provides practitioners with a realistic risk assessment approach and further understanding of dynamic and stage-related risks throughout large infrastructures’ lifecycle. The framework can be modified and used in other real-world risk analysis where risks are complex and develop in stages.

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Section: Analysis Of Qualitative Resultsmentioning

confidence: 94%

Section: Figurementioning

confidence: 99%

Lifecycle cost risk analysis for infrastructure projects with modified Bayesian networks

Xia

Wang

et al. 2017

JEDT

View full text Add to dashboard Cite

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“…Cross cultural studies are gaining increasing importance in business due to diverse organizational workforces and globalization (Akiner and Tijhuis 2007;Abdul-Rahman et al 2012;de la Cruz et al 2008). However, studies on the impact of national culture on knowledge sharing, especially in terms of international construction, are relatively limited (Michailova and Hutchings 2006;Pauleen et al 2007).…”

Section: Introductionmentioning

confidence: 99%

Impact of national culture on knowledge sharing in international construction projects

et al. 2014

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International construction projects generally involve participants from different cultural backgrounds. In this type of projects, national culture can significantly influence knowledge sharing between individuals. This research contributes to the literature by providing a deeper understanding of cultural issues that influence knowledge sharing in international construction projects. The research was carried out in three international construction joint ventures located in Qatar, Libya, and Bulgaria. A mixed method design was used to better understand the research problem and strengthen the findings. The findings are interpreted through the cultural dimensions of Hofstede and Hall. Based on the analysis, language and communication difficulties, trust, motivation, and personal relationships were found as the critical barriers to successful knowledge sharing in multicultural project teams. Findings from this study can help managers to better understand the role of national culture in knowledge sharing in the context of improving project performance.Résumé : Les projets internationaux de construction impliquent généralement des participants de de diverses cultures. Dans ce type de projet, la culture nationale peut grandement influencer le partage des connaissances entre les individus. La présente recherche contribue à la littérature en fournissant une meilleure compréhension des questions culturelles qui influencent le partage de connaissances dans les projets internationaux de construction. Cette recherche a été réalisée dans trois coentreprises internationales de construction au Qatar, en Lybie et en Bulgarie. Une méthode de conception mixte a été utilisée pour mieux cerner le problème de recherche et solidifier les conclusions. Les conclusions sont interprétées par rapport aux dimensions culturelles de Hofstede et Hall. Selon l'analyse, les difficultés de langues et de communications, la confiance, la motivation et les relations interpersonnelles sont les barrières critiques à la réussite du partage des connaissances dans les équipes de projet multiculturelles. Les conclusions de cette étude peuvent aider les gérants à mieux comprendre le rôle de la culture nationale dans le partage des connaissances pour améliorer le rendement du projet. [Traduit par la Rédaction]

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“…We summarized these to 42 risks, of which five were added by experts during pre-tests (see Appendix A). The final list of risks is based on previous work, e.g., Chan et al [35], Abdul-Rahman et al [72], or Adair and Hutchison [73]. Similar to Arja et al [6], risks are divided into external and internal (project) risks.…”

Section: Resultsmentioning

confidence: 99%

Enhanced Cash Flow Valuation in Real Estate Management by Integrating Innovative Materials and Risk Assessment

et al. 2020

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Environmental criteria have become a critical issue for the evaluation of projects and products, particularly for businesses with extensive life cycles. Sustainability criteria and project risk management are underexplored in real estate development, and thus endanger business survival. The aim of this article is to improve the understanding of uncertainties in the real estate industry by using a stochastic risk assessment approach and to broaden the risk assessment methodology. Thus, this article investigates the importance of material selection regarding external and project risk for real estate development. Aside from conventional projects, risks are analyzed for projects with high-quality materials (HQMs) that are characterized by environmental benefits. In following a mixed method approach, we began by conducting interviews with developers about the most important risks, and later incorporating these factors into a stochastic cash-flow model. Finally, we illustrated our findings in a case study. Overall, the highest risks were shown from resource prices and changing regulations, while the rankings of the two materials differ slightly; HQMs rank higher on the created risk index than conventional materials. The cash-flow model shows that conventional materials perform slightly better than HQMs, although uncertainties within the calculations are similar. The article contributes to risk management and decision-making for real estate projects by providing insights into the discussion and analysis of the financial performance of sustainable construction material and design that might be crucial for disruptive innovations. We present a model that integrates environmental and long-term effects in the cash-flow evaluation of real estate projects, thereby increasing managerial flexibility.

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Risk identification and mitigation for architectural, engineering, and construction firms operating in the Gulf region

Cited by 18 publications

References 25 publications

Lifecycle cost risk analysis for infrastructure projects with modified Bayesian networks

Lifecycle cost risk analysis for infrastructure projects with modified Bayesian networks

Impact of national culture on knowledge sharing in international construction projects

Enhanced Cash Flow Valuation in Real Estate Management by Integrating Innovative Materials and Risk Assessment

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