Al-Shammaa, M M J (2019) Improving risk management in megaprojects. PhD thesis, University of Leeds, UK.
Abstract
Studies suggest that, despite the recent improvements in project risk management, 50-70% of Megaprojects do not meet cost, time or performance objectives, a much higher proportion than that for conventional projects. A critical appraisal of conventional risk management approaches revealed that many of the conditions for the successful application of these approaches were not satisfied in Megaprojects; in particular, problems arose from incomplete, insufficient and inaccurate data. These constraints severely limit the capability of conventional approaches to manage risks in Megaprojects, to the extent that they might not produce meaningful and realistic results. Accordingly, this research aims to improve the Megaproject delivery performance by introducing a better way of risk management beyond the conventional approaches. Thus, Adapted Grounded Theory was conducted to collect and analyse empirical data from semi-structured interviews with Megaproject experts. Drawing on the analysis of empirical findings, a new risk management approach in Megaprojects was grounded and developed. The new approach is unique in that it comprises for the first time a combination of practical mitigation measures that could be applied systematically and consistently to manage and mitigate Megaproject Common Risks (MCRs) collectively. Until now, there has been no such comprehensive approach; this research study is the first to attempt to do this. The contents, structure, viability and practicality of the proposed approach were tested and validated by another set of Megaproject experts through the Delphi method. The Delphi results confirm that the proposed approach has the potential to drive significant improvements to the Megaproject delivery performance that may not otherwise be achievable by conventional approaches. Accordingly, it can be concluded that the current research study succeeds in filling the knowledge gap by introducing a paradigm shift from conventional risk management into a systematic risk management approach. The research study provides an original contribution theoretically, methodologically and practically, which adds to the body of knowledge of risk management and to Megaprojects.
| Item Type: | Thesis (Doctoral) |
|---|---|
| Uncontrolled Keywords: | grounded theory; improvement; megaproject; performance; project risk management; risk management; interview |
| Index terms: | mitigation, megaproject, body of knowledge, appraisal, interview, drawing, risk management, paradigm, Delphi method, project risk management, grounded theory |
| Subjects: | data collection methods, risk assessment, technical documentation, education and knowledge transfer, strategic project management, knowledge management, theoretical framing, factor and component analysis, financial risk |
| Topics: | Cost Management, Information Management, Research Practice, Design Practice, Project Management, Risk Management |
| Descriptive scope: | 5 PCTEA |
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