Jha, K N and Devaya, M N (2008) Modelling the risks faced by Indian construction companies assessing international projects. Construction Management and Economics, 26(4), pp. 337-348. ISSN 1466433X
Abstract
There are just two Indian construction companies in the ENR 'Top 225 Global Contractors 2006' list and Indian construction companies have only a 0.05% market share of the $3-4 trillion global construction business. International construction experience in India is limited, but enormous scope for growth exists. This research presents the international construction risk factors from the Indian construction professionals' viewpoint, in a comprehensive format to enable practitioners to prioritize the efforts to manage the risk factors. Fourteen important risk factors have been identified through literature survey and interaction with industry experts. Interpretive structural modelling (ISM) has been used to present a hierarchical model showing the interrelationships between the risk factors. MICMAC analysis has been used to quantify and classify the risk factors based on their influence and dependence on other risk factors and to highlight counter-intuitive risk factors. We find that poor project management is a key risk factor forming the hub of the system, while political instability has maximum influence. The findings may be useful to the practitioners in the construction industry and may also interest academicians, since the method used here can be applied in other areas of construction management as well.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | globalization; India; international project; interpretive structural modelling; risk analysis |
| Index terms: | India, construction industry, interpretive structural modelling, risk factor, risk analysis, practitioner, market share, construction company, globalization, construction professional, international project, survey, interaction, modelling, global construction, project management, international construction |
| Subjects: | environmental hazards, data analysis and analytics, data collection methods, economic factors, professional development, analytical methods, practitioner, organization, strategic management, industry analysis, market analysis, project management theory and practice, behavioral psychology, Geography |
| Topics: | Project Management, Research Practice, Roles and Professions, Sustainability, International Construction, Engineering Principles, Geographical Context, Information Management, Business Strategy |
| 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