Kim, S; Ghimire, P; Jeong, H D and Barutha, P (2024) Comparative analysis of project risks across construction sectors. Journal of Construction Engineering and Management, 150(6): 04024038, ISSN 0733-9364
Abstract
The construction industry consists of various sectors that have different needs and functions. Those sector-specific differences create different risks that construction professionals empirically know. However, there is no documented and unbiased assessment to validate the empirical knowledge. Identifying the varying spectrum of risks present in different construction sectors in a systematic manner can facilitate more effective and efficient sharing, learning, and adoption of proven construction project management methods across these sectors. Ultimately, this can lead to significant improvements in construction productivity as a whole. This research analyzed risks in different construction sectors, including the commercial building, industrial, and civil infrastructure sectors in a comparative and quantitative manner. Project risk registers from the three construction sectors were analyzed using fuzzy set qualitative comparative analysis and coincidence analysis. The study identified various risk configurations in each sector, as well as their similarities and dissimilarities. Based on the findings, an ideal path to the utilization and dissemination of advanced construction management strategies and methods across the construction sectors was developed. These results are expected to assist project participants and stakeholders in adopting and implementing advanced project planning, delivery, and management strategies derived from other construction sectors while taking into account different risks.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | coincidence analysis; fuzzy set qualitative comparative analysis; project risk management |
| Index terms: | management strategy, project risk management, fuzzy set, construction project management, construction professional, construction productivity, construction industry, comparative analysis, risk register, qualitative comparative analysis, configuration, commercial building, dissemination, project planning, infrastructure sector, construction sector |
| Subjects: | systems engineering, industry analysis, decision-making and optimization, knowledge translation, project management theory and practice, financial risk, professional development, research methods, management, data analysis and analytics, operations management, control systems, construction type |
| Topics: | Construction Technology, Engineering Principles, Information Management, Project Management, Research Practice, Business Strategy, Cost Management |
| Descriptive scope: | 4 PCTA |
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