Risk analysis of belt and road infrastructure projects using integrated ISM-MICMAC approach

Nikjow, Mohammad Ajmal; Li, Liang; Xi-jing, QI; Sonar, Harshad

doi:10.1108/jm2-02-2021-0038

Cited by 9 publications

(5 citation statements)

References 64 publications

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“…, 2019). For example, Nikjow et al. (2021) integrated ISM–MICMAC approach to construct the hierarchical relationship between the significant risks of the Belt and Road Initiative infrastructure projects.…”

Section: Methodsmentioning

confidence: 99%

“…However, to focus on more effective mitigation strategies, MICMAC analysis is complementary to the ISM method, assisting to understand and discuss key factors in complex system (Troche-Escobar et al, 2018;Ma et al, 2019). For example, Nikjow et al (2021) integrated ISM-MICMAC approach to construct the hierarchical relationship between the significant risks of the Belt and Road Initiative infrastructure projects. They found that the economic risk, environmental risk and political risk in the ISM model have strong driving power, and should thus be taken into consideration when selecting risk mitigation strategies.…”

Section: Integrated Ism-micmac Approachmentioning

confidence: 99%

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Hierarchical structure and transfer mechanism to assess the scheduling-related risk in construction of prefabricated buildings: an integrated ISM–MICMAC approach

Cheng

Deng

Yin

2022

ECAM

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PurposeUnder the background that engineering, procurement and construction (EPC) contracting model is introduced to adapt to the highly fragmented characteristics of prefabricated construction, the schedule management of general contractor is faced with the challenge of dynamic transmission and interaction of construction scheduling-related risk. The purpose of this paper is to develop the hierarchy of prefabricated construction scheduling-related risks from the perspective of the general contractor, and to analyze the transmission mechanism between risks. The paper also aims to further distinguish the difference of the impact degree of scheduling-related risks, and provide reference for formulating the strategy to alleviate the construction delay.Design/methodology/approachBased on a review of the literature on prefabricated buildings, this paper identifies 22 scheduling-related risks in construction from the perspective of the general contractor. Semi-structured interviews were then conducted to obtain experts' views on the interrelationships among these risks. Following this, their overall structure was determined by using a hierarchical structure established by using interpretive structural modeling (ISM), and Matrice d'Impacts Croisés Multiplication Appliqués à un Classement (MICMAC) technique was applied to classify them into four groups according to their driving and dependence powers.FindingsThe results indicate that the 22 scheduling-related risks in construction followed the inherent path of step-by-step transmission, and all of them could cause different degrees of delays in prefabricated construction. Among them, general experience in contracting projects, the use of emerging technologies and the completeness of the relevant standards and specifications were strong drivers of scheduling delays in construction, and should be prioritized by the general contractor in schedule management. The transitive link between scheduling risks can guide them in developing prevention strategies.Research limitations/implicationsData quality and reliability risks are the major drawbacks of semi-structured interviews. These were minimized by engaging experts with rich theoretical and hands-on experience in prefabricated construction projects. The hierarchical model only reflects static influence relationships, and so dynamic interactions among scheduling-related risks should be studied in future.Originality/valueThe primary value of this study is in its development of a hierarchical model by using the integrated ISM–MICMAC approach that reflects the interaction between scheduling risks in the construction of prefabricated buildings. The hierarchy of these risks and the results of a “driving-dependence power” analysis can guide the general contractor in taking targeted preventive measures to avoid scheduling delays in the construction of prefabricated buildings.

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Section: Methodsmentioning

confidence: 99%

Section: Integrated Ism-micmac Approachmentioning

confidence: 99%

Hierarchical structure and transfer mechanism to assess the scheduling-related risk in construction of prefabricated buildings: an integrated ISM–MICMAC approach

Cheng

Deng

Yin

2022

ECAM

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“…Source: Computation by authors JM2 19,4 Mani et al, 2016;Nikjow et al, 2021;Patri and Suresh, 2017). The total number of "1"s in the table's rows and columns were added, representing CSF's driving power and dependency for SCFE.…”

Section: Final Reachability Matrixmentioning

confidence: 99%

An integrated approach for modeling critical success factors for supply chain finance ecosystem

Joshi,

Sarkar,

Choubey

2024

JM2

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Purpose Supply chain finance (SCF) has become a vital ingredient that fosters growth and provides flexibility to the global supply chain. Thus, it becomes essential to understand the factors that contribute to the success of the supply chain finance ecosystem (SCFE). This study aims to identify the critical success factors (CSFs) for the development of an efficient and effective SCFE. Based on their characteristics, the study intends to classify the factors into constructs and further establish a hierarchical relationship among the CSFs. Design/methodology/approach The study is based on empirical data collected from 221 respondents based on administered questionnaires. Exploratory factor analysis (EFA) is carried out on 16 selected factors (out of 21 proposed factors) based on the feedback of the experts and the factors were classified into four constructs. The total interpretive structural modeling (TISM) model was developed by identifying and finalizing CSFs of the SCFE. The model developed a hierarchical relationship between the various factors. Findings The study identified significant CSFs for the efficient and effective SCF ecosystem. Four constructs were developed by analyzing CSFs using the EFA. The finalized 16 CSFs modeled through the TISM and further hierarchical relationship established between the CSFs concludes that governmental policies and sectoral growth are the strongest driving forces and financial attractiveness is the weakest driving force. Based on the CSFs and the constructs identified, it was found that for the success of the SCF ecosystem, the existence of an economic ecosystem provides a facilitating framework for the overall development of the SCFE. Also, the trustworthiness among the partners fosters better relationships and results in financial feasibility and offers business opportunities for all the stakeholders. Practical implications This study will help the SCF partners across the globe understand the CSFs that ensure development of mutually beneficial SCF ecosystems and provide flexibility to the supply chain partners. The CSFs would provide insights to the policymakers and the financial intermediaries for providing a conducive environment for the development of a better SCF ecosystem. Also, the buyers and sellers would understand the CSFs that would develop better relationships among them and ultimately help in development of business across the globe. Originality/value The study identifies the CSFs for the SCF ecosystem. The study ascertains the significant factors and classifies them into clusters using EFA. Unlike the literature available, the paper develops the hierarchical relationship between the CSFs and develops a model for an efficient and effective SCF ecosystem.

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“…The BRI contributes to the advancement and expansion of the Silk Road Economic Belt and the 21st Century Maritime Silk Road and thus prolong the practice of wide-ranging opening of new segment of markets to represent the beginning of a new paradigm [1]. BRI infrastructure projects overseas have been a pathway to create strategic interconnectivity between China and other countries, further strengthening interdependence between China and the BRI partner countries [1,2]. Liu and Dunford [3] demonstrate developing particular infrastructure systems and new multilateral funding structures to support poverty mitigation and sustainable growth.…”

Section: Introductionmentioning

confidence: 99%

“…However, limited research has identified and prioritized the triggers of delays in international EPC projects, especially HSR delay factors. Hence, the aim of this study is (1) to identify and categorize critical triggers of delay in the EPC HSR project from engineering, procurement, and construction phases; (2) to investigate the current state of management international EPC HSR construction projects among Chinese companies; and (3) calculate the relative significance triggers of delays and illustrate the rating of variables and related groups in terms of their importance concerning delays.…”

Section: Introductionmentioning

confidence: 99%

Triggers of Delays in International Projects Using Engineering Procurement and Construction Delivery Methods in the Belt and Road Initiative: Case Study of a High-Speed Railway Projects

Nikjow

Xi-jing

et al. 2021

Sustainability

Self Cite

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Since the Belt and Road Initiative (BRI) has been put in practice by the Chinese government, several High-Speed Railways (HSR) have been built by Chinese Engineering Procurement and Construction (EPC) firms. However, many delays have created severe detrimental consequences on the progress of most HSR projects. This study sought to explore the essence of the recurring triggers of delays in international EPC HSR projects under the BRI, and a structured questionnaire survey approach was applied to compile the first-hand dataset from Chinese EPC firms working for BRI infrastructure projects. The data were evaluated, and the Relative Importance Index (RII) was adopted to assess the magnitude of the important delay triggers. The findings suggest that HSR projects are still susceptible to unavoidable delays in global construction infrastructure projects. In the engineering phase, improper management of the design, unsustainable land acquisition, and insufficient use of EPC joint venture are the salient trigger of delays. In the procurement phase, the leading causes of unsuitable procurement, undervalued procurement cost, inefficient logistics in labor and materials, improper planning, unqualified site supervisors, inefficient technical standard management, and inefficient constant payment terms are likely to trigger delays in the construction phase HSR projects. Five critical groups of delay factors are identified by this study, which has an essential primary contribution to the body of knowledge and is helpful to EPC contractors working for HSR projects under BRI.

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Risk analysis of belt and road infrastructure projects using integrated ISM-MICMAC approach

Cited by 9 publications

References 64 publications

Hierarchical structure and transfer mechanism to assess the scheduling-related risk in construction of prefabricated buildings: an integrated ISM–MICMAC approach

Hierarchical structure and transfer mechanism to assess the scheduling-related risk in construction of prefabricated buildings: an integrated ISM–MICMAC approach

An integrated approach for modeling critical success factors for supply chain finance ecosystem

Triggers of Delays in International Projects Using Engineering Procurement and Construction Delivery Methods in the Belt and Road Initiative: Case Study of a High-Speed Railway Projects

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