Coskun, C; Dikmen, I and Birgonul, M T (2023) Sustainability risk assessment in mega construction projects. Built Environment Project and Asset Management, 13(5), pp. 700-718. ISSN 2044-124X
Abstract
Purpose: Megaprojects are large-scale and long-term investments. Three pillars of sustainable construction objectives, namely, social, environmental and economic, should be integrated into megaproject risk management to ensure long-term success. A risk assessment method, Risk Assessment Method for Sustainable Construction Objectives in Megaprojects (RAMSCOM), was developed for this purpose. Design/methodology/approach: RAMSCOM was developed based on the latest concepts and identifying relevant and critical sustainability objectives and risks through an extensive literature review. Analytical Hierarchy Process (AHP) and Cross-Impact Analysis (CIA) were used to determine and quantify the threats regarding the importance of the sustainability objectives. The applicability of RAMSCOM was demonstrated on a real megaproject. Findings: The findings revealed that sustainability risk assessment requires integration of economic, environmental, social objectives and analysis of cross-impacts of risk factors. Visualization of interrelated threats, vulnerabilities and objectives has a potential to support risk mitigation decisions to achieve sustainability goals. Research limitations/implications: The method has been developed based on the findings from a detailed literature survey on sustainability objectives and risks. RAMSCOM was tested on a single project with the assistance of three experts' views. Findings from the case project cannot be directly generalised for various megaprojects considering the unique nature of megaprojects. Practical implications: Decision-makers can use RAMSCOM to assess sustainability risks in megaprojects and develop risk management plans for the most vulnerable and important sustainable objectives in a visual and quantified approach to ensure megaproject's sustainability in the long-term. Originality/value: The theoretical contribution is a novel risk assessment method that integrates all dimensions of sustainability and quantifies the vulnerability of sustainability objectives considering their priorities, interrelations and risks. Sustainability dimensions, objectives and risks used in RAMSCOM can be useful for other researchers aiming to develop similar methods.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | decision-support systems; megaprojects; novel method; performance; project risk management; sustainable construction |
| Index terms: | analytical hierarchy process, dimension, risk mitigation, visualization, megaproject, impact analysis, construction project, risk assessment, methodology, integration, vulnerability, risk management, risk factor, literature review, project risk management, survey, sustainable construction |
| Subjects: | risk assessment, data collection methods, health monitoring assessment and metrics, strategic project management, data analysis and analytics, sustainable construction, financial risk, production management, research methods, design practice, environmental hazards, decision-making and optimization, organizational analysis |
| Topics: | Risk Management, Sustainability, Health and Safety, Cost Management, Project Management, Research Practice, Organizational Design, Design Practice |
| 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