Sustainability risk assessment in mega construction projects

Abstract

PurposeMegaprojects 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/approachRAMSCOM 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.FindingsThe 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/implicationsThe 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 implicationsDecision-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/valueThe 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.

Integrating Quantitative and Qualitative Risk Assessment Models for Mega Infrastructure Ventures

“…Several studies have recognized the value of quantitative risk assessment models in providing a structured and numerical framework for analyzing specific risk factors associated with mega infrastructure projects [8]. Quantitative models often involve probabilistic analyses, simulation techniques, and mathematical modeling to assess risks related to costs, scheduling, and technical complexities.…”

Integrating Evolutionary Game and System Dynamics for Multi-Player Safety Regulation of Major Infrastructure Projects in China

“…These methods were applied to 11 megaconstruction projects for risk assessment and the results showed that it can assist practitioners to develop better risk management plans. Likewise, Coskun et al (2023) developed a risk assessment method, namely Risk Assessment Method for Sustainable Construction Objectives in Megaprojects (RAMSCOM), for sustainable risk assessment of mega construction projects. This method utilizes the hierarchical analysis method (AHP) and cross impact analysis (CIA) to identify and quantify threats related to the importance of the sustainability objectives, and its effectiveness was validated on a major project.…”