Parra, H A; Zuñiga-Collazos, A and Cruz-Caicedo, L F (2023) Impact of external risks on international construction projects success: Evidence from commonwealth caribbean islands. Journal of Construction in Developing Countries, 28(1), pp. 113-132. ISSN 1823-6499
Abstract
Since risks on international construction show region to region variation, the present study investigates the impact of external risks on international construction project (ICP) success and the relationships between them, from the perspective of construction professionals working in the Commonwealth Caribbean Islands (CCI) states. After a literature review, a survey questionnaire was designed with the input of a small group of experts. An instrument was tested and then sent to the construction professionals working in the CCI. Seventy valid surveys collected were processed using the structural equation model (SEM). The results suggest that the reason why CCI is an attractive region for construction enterprises looking into developing countries is because they do not support a direct impact of external risks on the project success, contrary to the findings in other studies on developing regions. The SEM confirmed that global risks influence economic risks, while economic risks influence legal risks and, in this region, influence the social risks. Results obtained help to address the knowledge gap for the ICP risks for the Caribbean region. The study will help the firms and the professionals looking to venture into the CCI or other regions with similar characteristics to create their risk management plan.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | international construction; developing countries; project success; risk management; construction project; international construction project; professional; questionaire survey |
| Index terms: | construction professional, international construction, risk management, structural equation model, project success, construction project, variation, questionnaire, evidence, international construction project, developing country, Caribbean, literature review, survey |
| Subjects: | statistical analysis, physical geography and landforms, development economics, professional development, project management theory and practice, production management, contractual condition, data analysis and analytics, evaluation and assessment methods, data collection methods, risk assessment, strategic management |
| Topics: | International Construction, Contract Administration, Information Management, Research Practice, Geographical Context, Project Management, Risk Management |
| 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