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Chen, Q, Reichard, G and Beliveau, Y (2010) Object Model Framework for Interface Modeling and IT-Oriented Interface Management. Journal of Construction Engineering and Management, 136(02), 187–98.
Dai, F and Lu, M (2010) Assessing the Accuracy of Applying Photogrammetry to Take Geometric Measurements on Building Products. Journal of Construction Engineering and Management, 136(02), 242–50.
Ding, Z and Ng, F (2010) Personal Construct-Based Factors Affecting Interpersonal Trust in a Project Design Team. Journal of Construction Engineering and Management, 136(02), 227–34.
Goh, Y M and Chua, D K H (2010) Case-Based Reasoning Approach to Construction Safety Hazard Identification: Adaptation and Utilization. Journal of Construction Engineering and Management, 136(02), 170–8.
Hanna, A S and Skiffington, M A (2010) Effect of Preconstruction Planning Effort on Sheet Metal Project Performance. Journal of Construction Engineering and Management, 136(02), 235–41.
Hasan, S, Al-Hussein, M, Hermann, U H and Safouhi, H (2010) Interactive and Dynamic Integrated Module for Mobile Cranes Supporting System Design. Journal of Construction Engineering and Management, 136(02), 179–86.
Iyer, K C and Sagheer, M (2010) Hierarchical Structuring of PPP Risks Using Interpretative Structural Modeling. Journal of Construction Engineering and Management, 136(02), 151–9.
- Type: Journal Article
- Keywords: Build/Operate/Transfer; Infrastructure; Risk management; Toll roads; Structural models; Build/operate/transfer; Infrastructure; Risk management; Risk; Toll roads;
- ISBN/ISSN: 0733-9364
- URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0000127
- Abstract:
Project risk management emphasizes the need to rank and prioritize risks in a project to focus the risk management efforts. This risk prioritization is of special significance in public-private partnership (PPP) projects, since project success depends upon the efficient allocation of risks to the party who can best manage it. Previous studies on risk identification and assessment of PPP project risks have only produced an unstructured list of such risks and prioritizing them on the basis of probability and impact. This paper suggests the use of interpretative structural modeling (ISM) to prepare a hierarchical structure as well as the interrelationships of these risks that would enable decision makers to take appropriate steps. MICMAC (matrice d'impacts croises-multiplication appliqué a un classemen) analysis is also done to determine the dependency and driving power of the risks. ISM, along with MICMAC analysis, provides a useful hierarchy of risks whose individual relationships are unambiguous but whose group relationships are too complex to organize intuitively and can help practitioners better understand risk dependencies and prioritize risk-mitigation efforts. This study identified 17 risks encountered during the development phase of PPP projects in Indian road sector and found that fourteen risks were weak drivers and weak dependents. Delay in financial closure, cost overrun risk, and time overrun risk have been found to have the highest dependence on other risks. The analysis can be extended by practitioners for risk analysis in other infrastructures such as railways, seaports, airports etc.
Jin, X (2010) Determinants of Efficient Risk Allocation in Privately Financed Public Infrastructure Projects in Australia. Journal of Construction Engineering and Management, 136(02), 138–50.
Kim, J and Ellis, R D (2010) Comparing Schedule Generation Schemes in Resource-Constrained Project Scheduling Using Elitist Genetic Algorithm. Journal of Construction Engineering and Management, 136(02), 160–9.
Mitropoulos, P and Guillama, V (2010) Analysis of Residential Framing Accidents, Activities, and Task Demands. Journal of Construction Engineering and Management, 136(02), 260–9.
Moussourakis, J and Haksever, C (2010) Project Compression with Nonlinear Cost Functions. Journal of Construction Engineering and Management, 136(02), 251–9.
Rasdorf, W, Grasso, B and Bridgers, M (2010) Public versus Private Perceptions on Hiring an External Program Manager. Journal of Construction Engineering and Management, 136(02), 219–26.
Tserng, H P, Yin, S Y L, Skibniewski, M J and Lee, M H (2010) Developing an ARIS-House-Based Method from Existing Information Systems to Project-Based Enterprise Resource Planning for General Contractor. Journal of Construction Engineering and Management, 136(02), 199–209.
Zhu, Z and Brilakis, I (2010) Machine Vision-Based Concrete Surface Quality Assessment. Journal of Construction Engineering and Management, 136(02), 210–8.