Open AccessTechnical risk factors of international construction
Author(s) -
Martin Asare,
Wang Yousong,
Li Jianfeng,
Mends George
Publication year - 2018
Publication title -
the journal of engineering
Language(s) - English
Resource type - Journals
ISSN - 2051-3305
DOI - 10.1049/joe.2016.0389
Subject(s) - ranking (information retrieval) , economic shortage , business , risk management , risk analysis (engineering) , rank (graph theory) , operations management , engineering , computer science , finance , philosophy , linguistics , mathematics , combinatorics , machine learning , government (linguistics)
Construction is one of the strongholds for development in every country. The objective of the research is to identify the critical technical risk factors encountered by engineering firms on the global milieu. Based on questionnaire surveys, statistical analyses and previous studies on risk management, 23 risks were selected and ranked as technical factors that hinder construction projects. The relative importance index (RII) was used to determine the rank of each factor surveyed. The study revealed that industrial disputes, shortage in power supply, shortage in supply of water and problems of partner difference practice of construction globally were among the highly ranked technical risks. The study is beneficial as it adopts case studies in Africa to elicit the technical effects on the international frontlines. With the ranking of the technical risk factors, international construction firms can adequately enhance critical planning, avoid casualties and engage in economically viable projects. The study will be useful for analysing and investigating the hypothesised relationships technical risk variables that influence performance of international joint ventures. The risk factors displayed in the study can be used in supporting data for many other research development studies in the area of construction, risk analysis and global construction development studies.