Nguyen, T; Tran, Q P; Chileshe, N; Thao Huynh, T Y and Hallo, L (2024) Risk prioritization using analytic process network for metro rail implementation projects in developing countries: A typical case study of Vietnam. International Journal of Construction Management, 24(10), pp. 1077-1089. ISSN 1562-3599
Abstract
The purpose of this paper is to identify potential major risks of railway metro project implementation and to assess the priority of project risks concerning cost, time, and quality in terms of five project aspects as follows: stakeholder consensus; technological and technical; economic and commercialized; natural environmental; political and legal. In this study, the analytical network process was carried out to assess the influence of risk variables on project objectives. The involvement of experts, together with the analytical network process, provided a list of 27 risk variables affecting the outcome of a railway metro project implementation in Ho Chi Minh City, Vietnam. The results show that the economic and commercialized risk group has the largest standardized composite risk preference index (NRPI = 0.334), the technological and technical risk group is ranked second with an NRPI = 0.276 value, followed by stakeholder consensus, political-legal and environmental risks with standardized composite risk priority indices of 0.182, 0.140 and 0.067 respectively. The prioritization of risk components regarding given groups can provide a holistic picture of potential project risks; and this can support policy-makers to re-evaluate a project plan and associated backup solutions to mitigate the risk consequences on project objectives.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | analytic network process; metro railway projects; project risk management |
| Index terms: | implementation, analytic network process, composite, case study, project risk management, preference, risk prioritization, environmental risk, Vietnam, developing country |
| Subjects: | Geography, development economics, financial risk, decision-making and reasoning, decision-making and optimization, materials science, data collection methods, contractual arrangements |
| Topics: | Procurement, Construction Materials, Geographical Context, Research Practice, Cost Management, International Construction |
| Descriptive scope: | 4 PCEA |
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