Lee, Chia Kuang and Chong, Fui Yee and Liew, Siau-Chuin and Tay, Joo Hui and Toh, Tien Choon (2023) Critical Risk Factors in Construction Projects: A Dematel-Based Model. Malaysian Construction Research Journal (MCRJ), 18 (Sp. 1). pp. 168-188. ISSN 1985-3807. (Published)
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Abstract
Construction projects are defenceless to more risks compared to the other industries due to their nature and complexities. These risks can lead to performance reductions, increased costs, scheduling delays, and even project failure. It is noted that the success of the project depends on identifying the most common risk factors and mitigate them effectively. Numerous studies have discussed the significance of investigating the critical risks in the construction projects but the complex causal relationships among the risk factors and their relative significance with respect to each other remain unexplored. The purpose of this paper is to identify the critical risk factors and investigate the interrelationship among the risk factors in the construction projects. Detailed literature review has been conducted and ten risk factors were identified. Decision Making Trial and Evaluation Laboratory (DEMATEL) is employed in the study to prioritize the risks and then analyse the causal relationship among the factors. Based on the interview data from thirteen experts, the results show design risks are the critical risk factors. The findings in this study can provide structural visualization of complex causal relationships among risk factors and also allow construction experts to prioritize the resource allocation to achieve project objectives. Keywords: Construction Industry; Critical Risks; Decision Making Trial & Evaluation Laboratory (DEMATEL).
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | Construction Industry; Critical Risks; Decision Making Trial & Evaluation Laboratory (DEMATEL). |
| Subjects: | H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management T Technology > TA Engineering (General). Civil engineering (General) T Technology > TH Building construction |
| Faculty/Division: | Faculty of Industrial Management |
| Depositing User: | Dr. Lee Chia Kuang |
| Date Deposited: | 21 Aug 2023 02:02 |
| Last Modified: | 21 Aug 2023 02:02 |
| URI: | http://umpir.ump.edu.my/id/eprint/38427 |
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