Exploring the Relationship between Complexity and Risk in Megaconstruction Projects

Erol, Huseyin; Dikmen, İrem; Atasoy, Güzide; Birgönül, M. Talat

doi:10.1061/(asce)co.1943-7862.0001946

Cited by 33 publications

(40 citation statements)

References 81 publications

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“…Contractors (i.e., utilized hereafter to denote both the main contractors and their subcontractors) are among the most critical stakeholders in infrastructure projects (Tan et al 2017;Liu et al 2019a;Korb and Sacks 2021); subsequently, managing their interdependence-associated risks is key for project performance (Erol et al 2020). In a large infrastructure project, contractors' interdependence is best exemplified by the complexity of the technical tasks performed by different contractors from different disciplines (Luo et al 2016;An et al 2018), being spatiotemporally interdependent, all working collaboratively in parallel or in series on the same project site, within the same timeframe (Chester and Hendrickson 2005;Jarkas 2017).…”

Section: Infrastructure Project Complexity and Systemic Risk Analysismentioning

confidence: 99%

“…Despite introducing different interdependence quantification criteria (Mok and Shen 2016;Zhu and Mostafavi 2017;On Cheung et al 2018), quantification of contractors' interdependence through their associated tasks' technical complexity is inconsistent across the literature. Attributed to the limitations of available software and the lack of the appropriate interdependence quantification and analysis tools, managing systemic risks resulting from the latter is often not considered (Erol et al 2020). In addition, although the work of Gondia et al ( 2022) presented a promising approach to manage interdependence-induced risks, it faced several limitations that are worth discussing.…”

Section: Current Limitations In Project Risk Management Practicesmentioning

confidence: 99%

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Managing Interdependence-Induced Systemic Risks in Infrastructure Projects

Moussa

El‐Dakhakhni

2022

J. Manage. Eng.

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Complex by nature, infrastructure megaprojects rarely meet stakeholders' expectations. A key characteristic of such complexity is the interdependence among different project stakeholders (e.g., contractors) where disruption of one contractor's work may instigate (systemlevel) systemic risks, resulting in poor key performance indicators (KPIs) of the whole project. Attributed to the lack of appropriate analysis and quantification tools, managing the systemic risks resulting from such interdependence remains challenging. The current study fills this knowledge gap through proactive systemic risk management (i.e., early identification, analysis, mitigation, and continuous monitoring).The study enhanced and operationalized a previously developed conceptual framework, in which interdependence was quantified through employing complex network theoretic measures. Specifically, the current study correlated contractor interdependence to project KPIs in order to assess associated project systemic risks. Subsequently, a metaheuristic optimization technique was employed to reorganize the project's schedule-effectively managing interdependence-induced risks. To demonstrate the utility of the developed methodology, a power infrastructure project was considered. Finally, the study provides valuable insights to improve the performance of complex infrastructure projects through proactive systemic risk management, ultimately enhancing the overall project's hyper resilience (i.e., to interdependence-induced disruptions).

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Section: Infrastructure Project Complexity and Systemic Risk Analysismentioning

confidence: 99%

Section: Current Limitations In Project Risk Management Practicesmentioning

confidence: 99%

Managing Interdependence-Induced Systemic Risks in Infrastructure Projects

Moussa

El‐Dakhakhni

2022

J. Manage. Eng.

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“…Across all stages, risk management processes should be conducted iteratively because risks will continue to emerge during the megaproject lifecycle [79,80]. Therefore, the effectiveness of risk management is directly related to megaproject success [81].…”

Section: Overview Of Megaproject Management Researchmentioning

confidence: 99%

“…Risk management includes the process of conducting the identification, analysis, assessment, and monitoring of the risk of the megaproject. The main risks are identified and relate to three aspects in megaproject management: external risks, including political risk [79,82,83], societal risk [55,73,83,84], and construction risk [28,85]; and internal risks, including design risk [84,86], contractual risk [87,88], operation and maintenance risks [82,89,90], financial risk [91][92][93], and force majeure risk [94,95].…”

Section: Overview Of Megaproject Management Researchmentioning

confidence: 99%

Megaproject Management Research: The Status Quo and Future Directions

Yuan

Wang

et al. 2021

Buildings

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Megaproject practices worldwide have triggered increasing research in megaproject management issues and led to an increasing number of papers being published during the last decade. However, it is demonstrated by the literature that there is no systematic examination on research development in the discipline of megaproject management, and consequently it is very difficult for scholars to quickly understand and grasp the research trend. Therefore, a research question naturally comes out, i.e., what is the status quo of megaproject management research and what are the research directions worthy of further investigation? This study aims to answer the question by conducting a systematic examination of the research development in the discipline of megaproject management. A total of 117 relevant articles, identified from six major international journals between 2009 and 2021, were analyzed based on the number of papers published annually, main author contributions, citations, categorization of the research methods and data analysis methods adopted, and research topics covered. The results indicated that developed countries, such as Australia, Canada, the United States, and the United Kingdom, have enjoyed significant advantages in terms of megaproject management research. It also revealed that more sophisticated views and theory have been used effectively, rather than only basic qualitative methods, in a number of studies on megaproject management. Future studies on megaproject management will be led globally, where megaprojects will remain designed and built to better built environments. In addition, continuous in-depth research on related topics can promote innovation in megaproject management to achieve sustainable megaproject development. Megaproject management will continue to be a hot research topic in the future; in particular, megaproject investment and finance management have emerged as new challenging topics. The findings can be valuable for both industry practitioners and researchers to gain deeper understanding of the current status and future directions of megaproject management research.

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“…The definition of risk manageability states the ability to reduce the possibility of the risk and any negative impact [9]. Manageability is defined as the difficulty level of the risk owner to manage the event or impact of risk [10]. The advantage of a dynamic system is a feedback structure that is interconnected and leads to balance [11].…”

Section: Introductionmentioning

confidence: 99%