Sharma, V K; Sharma, S K and Singh, A P (2022) Risk enablers modelling for infrastructure projects using Bayesian belief network. International Journal of Construction Management, 22(6), pp. 993-1010. ISSN 1562-3599
Abstract
Work in the area of risk assessment of infrastructure projects is full of different techniques; study on the risk management factors is non-existent. It is required because such risks of high impact paralyze the performance of infrastructure projects. Delay and cost overruns in infrastructure projects affect the society welfare at large. Because of this, the reputation of the government is at stake. This paper is an attempt to contribute to the risk enablers modelling, by first identifying major critical success factors for risk management and then finding cause-and-effect relationships between them for developing a Bayesian belief network (BBN) model. The analysis of this model and results determine relative importance of the critical success factors on which risk management efforts must be focused first to ensure that the project achieves objectives within the stipulated time and cost.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | Bayesian belief network modelling; infrastructure projects; risk enabling factors |
| Index terms: | society, cost overrun, risk management, infrastructure project, risk assessment, modelling, critical success factor, risk management factor, bayesian belief network, relative importance |
| Subjects: | financial risk, infrastructure and transport systems, financial and cost management, environmental hazards, communities and social development, control systems, analytical methods, risk assessment, probabilistic model |
| Topics: | Stakeholder Management, Sustainability, Risk Management, Engineering Principles, Project Management, Cost Management, Digital Applications |
| Descriptive scope: | 3 PCA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here