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Ballesteros-Pérez, P, Skitmore, M, Sanz-Ablanedo, E and Verhoeven, P (2019) Forecasting the Number and Distribution of New Bidders for an Upcoming Construction Auction. Journal of Construction Engineering and Management, 145(10).
Bingham, E, Gibson, G E and El Asmar, M (2019) Identifying Team Selection and Alignment Factors by Delivery Method for Transportation Projects. Journal of Construction Engineering and Management, 145(10).
Eke, G, Elgy, J and Wedawatta, G (2019) Establishing a Link between Contractor Selection Strategy and Project Outcomes: Simulation Study. Journal of Construction Engineering and Management, 145(10).
El-adaway, I H, Ali, G, Assaad, R, Elsayegh, A and Abotaleb, I S (2019) Analytic Overview of Citation Metrics in the Civil Engineering Domain with Focus on Construction Engineering and Management Specialty Area and Its Subdisciplines. Journal of Construction Engineering and Management, 145(10).
Ioannou, P G (2019) Friedman’s Bidding Model: Errors and Corrections. Journal of Construction Engineering and Management, 145(10).
Khalafallah, A, Kartam, N and Razeq, R A (2019) Bilevel Standards-Compliant Platform for Evaluating Building Contractor Safety. Journal of Construction Engineering and Management, 145(10).
Lagos, C I, Herrera, R F and Alarcón, L F (2019) Assessing the Impacts of an IT LPS Support System on Schedule Accomplishment in Construction Projects. Journal of Construction Engineering and Management, 145(10).
Raouf, A M and Al-Ghamdi, S G (2019) Effectiveness of Project Delivery Systems in Executing Green Buildings. Journal of Construction Engineering and Management, 145(10).
Tetteh, M O and Chan, A P C (2019) Review of Concepts and Trends in International Construction Joint Ventures Research. Journal of Construction Engineering and Management, 145(10).
Wang, C, Loo, S C, Yap, J B H and Abdul-Rahman, H (2019) Novel Capability-Based Risk Assessment Calculator for Construction Contractors Venturing Overseas. Journal of Construction Engineering and Management, 145(10).
- Type: Journal Article
- Keywords: Risk management; Risk calculator; Overseas venture; International construction; Entry decision;
- ISBN/ISSN: 0733-9364
- URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0001696
- Abstract:
Globalization creates opportunities for contractors to enter lucrative international markets yet international projects are exposed to more diverse and complex risks than domestic projects. Owing to vast uncertainties and complexities, international construction entry decisions are intricate. Although conventional Probability-Impact (P-I) risk models are useful, the firm’s capabilities are missing in early assessments for project selection decision. Hence, this study aims to develop a capability-based risk assessment (CapRA) calculator for international contractors venturing overseas. The international construction firm’s capabilities are explored using resource-based views, dynamic capabilities, and Porter’s generic value chain theories to conceptualize an integrated framework for risk assessment. Additionally, a questionnaire was sent to international construction firms operating outside their home countries to appraise their firm’s capabilities and international construction project risk significance values. Then, a partial least squares approach was used to analyze the data. The findings are used to develop a novel CapRA model, which is then formulated into modified P-I risk model equations and computerized into a CapRA calculator to simplify the application. In essence, this study contributes to both knowledge and practice by developing and testing a model to improve the accuracy and facilitate project selection decisions for international construction firms.