Classify the Iranian’s Construction Projects Key Risks by Structural Equation Modeling
Subject Areas : Industrial Management
Kajal Zarei
1
(Industrial Engineering, Faculty of Engineering, Islamic Azad University, Sanandaj Branch, Sanandaj, Iran.)
Bahareh Mohebban
2
(PhD student at Department of Industrial Management, Faculty of Management, University of Tehran, Tehran, Iran.)
Alireza Esmaeilzadeh
3
(MSc. in Industrial Management, Faculty of Management and Accounting, Allameh Tabataba'i University, Tehran, Iran.)
Ahmad Jamalian
4
(MSc. in industrial Management, Faculty of Economic & Administrative Sciences, University of Mazandaran, Babolsar, Iran.)
Keywords: Project Risk Management, factor analysis, Structural Equation Modeling (SEM), Construction Projects,
Abstract :
Project Risk Management is a critical component of project management as risks that are not well-managed may lead to project failures. This study aims to classify Iranian’s Construction Projects key risks by using Structural Equation Modeling (SEM) technique. At first, based on a comprehensive literature review 28 indicators were identified to recognize the construction projects risk. Thereafter, a questionnaire was distributed amongst the experts of construction industry, and finally 239 questionnaires were collected. In the next step, the model of construction projects risks was estimated by using of Confirmatory Factor Analysis (CFA) which the indicators explained five latent variables (Environmental, Quality, Cost, Time and Safety related factors). The results presented that priorities of the indicator of “Construction Projects Risks” are “Time Risk”, “Cost Risk”, “Quality Risk”, “Environment Risk” and “Safety Risk”, respectively. Furthermore, the results of the research provided a comprehensive model for the construction projects risks, which it can be used by scholars and project managers.
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