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Modelling the risks faced by Indian construction companies assessing international projects

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  • Kumar Neeraj Jha
  • M. N. Devaya

Abstract

There are just two Indian construction companies in the ENR 'Top 225 Global Contractors 2006' list and Indian construction companies have only a 0.05% market share of the $3-4 trillion global construction business. International construction experience in India is limited, but enormous scope for growth exists. This research presents the international construction risk factors from the Indian construction professionals' viewpoint, in a comprehensive format to enable practitioners to prioritize the efforts to manage the risk factors. Fourteen important risk factors have been identified through literature survey and interaction with industry experts. Interpretive structural modelling (ISM) has been used to present a hierarchical model showing the interrelationships between the risk factors. MICMAC analysis has been used to quantify and classify the risk factors based on their influence and dependence on other risk factors and to highlight counter-intuitive risk factors. We find that poor project management is a key risk factor forming the hub of the system, while political instability has maximum influence. The findings may be useful to the practitioners in the construction industry and may also interest academicians, since the method used here can be applied in other areas of construction management as well.

Suggested Citation

  • Kumar Neeraj Jha & M. N. Devaya, 2008. "Modelling the risks faced by Indian construction companies assessing international projects," Construction Management and Economics, Taylor & Francis Journals, vol. 26(4), pages 337-348.
    • Handle: RePEc:taf:conmgt:v:26:y:2008:i:4:p:337-348
    DOI: 10.1080/01446190801953281
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    Cited by:

    1. Manel Elmsalmi & Wafik Hachicha & Awad M. Aljuaid, 2021. "Prioritization of the Best Sustainable Supply Chain Risk Management Practices Using a Structural Analysis Based-Approach," Sustainability, MDPI, vol. 13(9), pages 1-15, April.
    2. Han, Qingye & Zhu, Yuming & Ke, Ginger Y. & Hipel, Keith W., 2019. "Public private partnership in brownfield remediation projects in China: Identification and structure analysis of risks," Land Use Policy, Elsevier, vol. 84(C), pages 87-104.
    3. Marina Marinelli & Ashwini Konanahalli & Rupesh Dwarapudi & Mukund Janardhanan, 2022. "Assessment of Barriers and Strategies for the Enhancement of Off-Site Construction in India: An ISM Approach," Sustainability, MDPI, vol. 14(11), pages 1-20, May.
    4. Wen-Kuo Chen & Venkateswarlu Nalluri & Suresh Ma & Mei-Min Lin & Ching-Torng Lin, 2021. "An Exploration of the Critical Risk Factors in Sustainable Telecom Services: An Analysis of Indian Telecom Industries," Sustainability, MDPI, vol. 13(2), pages 1-22, January.

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