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Risk identification techniques for international contracting projects by construction professionals using factor analysis

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dc.citedby5
dc.contributor.authorUllah S.en_US
dc.contributor.authorXiaopeng D.en_US
dc.contributor.authorAnbar D.R.en_US
dc.contributor.authorVictor Amaechi C.en_US
dc.contributor.authorKolawole Oyetunji A.en_US
dc.contributor.authorAshraf M.W.en_US
dc.contributor.authorSiddiq M.en_US
dc.contributor.authorid57214045916en_US
dc.contributor.authorid23388169700en_US
dc.contributor.authorid58929190600en_US
dc.contributor.authorid57204818354en_US
dc.contributor.authorid57192178716en_US
dc.contributor.authorid58929710400en_US
dc.contributor.authorid57526662000en_US
dc.date.accessioned2025-03-03T07:43:32Z
dc.date.available2025-03-03T07:43:32Z
dc.date.issued2024
dc.description.abstractGlobally, managing political risk is an essential component of international contracting and project management. Due to political unpredictability and volatility in most nations, there could be a substantial influence on the successful completion of any construction project. To mitigate this, contractors employ a systematic strategy for risk management, including expropriation, civil disturbance, and shifts in governmental policies taking into consideration all the political risks connected to global projects. As a result of the political volatility, there is a need for political risk management (PRM) approaches by the International Construction Corporation (ICC). This study investigates the risk identification techniques for international contracting professionals in the construction sector. The methodology for conducting this investigation is based on data collection through questionnaires from construction sector professionals in both academia and industry. The tools were used to develop essential components from the factors established. This was then analysed using quantitative techniques to examine identified risk factors and make study deductions. The findings of this study identified the crucial PRM-related implications for global initiatives and various risks that were considered in typical construction projects. The political environment should be thoroughly examined, prospective risks should be noted, and risk-reduction tactics should be included in this plan. Thus, a successful project is achievable when contractors can identify the risks, preserve their investments, minimize project delays, handle disruptions, and boost project success rates. Additionally, political risks are invariably associated with construction projects, and this is considered a concern for foreign contractors. Thus, good identification techniques will ensure project preparedness, which is required by expatriates and foreign contractors. This is necessary as they need to ensure that their projects are successfully handled and that there are alternative plans to handle any unexpected event on the project. ? 2024 THE AUTHORSen_US
dc.description.natureFinalen_US
dc.identifier.ArtNo102655
dc.identifier.doi10.1016/j.asej.2024.102655
dc.identifier.issue4
dc.identifier.scopus2-s2.0-85187265769
dc.identifier.urihttps://www.scopus.com/inward/record.uri?eid=2-s2.0-85187265769&doi=10.1016%2fj.asej.2024.102655&partnerID=40&md5=245baa46710bbd55ae83df809cb82693
dc.identifier.urihttps://irepository.uniten.edu.my/handle/123456789/36632
dc.identifier.volume15
dc.publisherAin Shams Universityen_US
dc.relation.ispartofAll Open Access; Gold Open Access
dc.sourceScopus
dc.sourcetitleAin Shams Engineering Journal
dc.subjectConstruction industry
dc.subjectContractors
dc.subjectFactor analysis
dc.subjectMultivariant analysis
dc.subjectProject management
dc.subjectRisk assessment
dc.subjectConstruction projects
dc.subjectConstruction sectors
dc.subjectFactors analysis
dc.subjectIdentification techniques
dc.subjectInternational construction
dc.subjectPolitical risks
dc.subjectProject risk management
dc.subjectQuestionnaire surveys
dc.subjectRisk Identification
dc.subjectRisks management
dc.subjectRisk management
dc.titleRisk identification techniques for international contracting projects by construction professionals using factor analysisen_US
dc.typeArticleen_US
dspace.entity.typePublication
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