Making Project Risk Response Decisions through Stakeholders’ Impact on Project Risk Interaction
Publication: Construction Research Congress 2022
ABSTRACT
Complex stakeholders’ relationships and the project risks interactions exist in today’s construction projects due to the increasing project complexity, especially in mega projects. In order to identify critical risks, it is imperative to clarify the stakeholders’ relationships, the process of risk interaction, and how stakeholders’ behaviors influence the occurrence and the controlling of risks in the project. The purpose of this work is to evaluate the stakeholders’ impact on the project risk interaction by building a two-layer network model and promote the effectiveness of risk control through identifying the key network nodes. The two-layer network model includes a stakeholder relationship network (SRN) and a risk interaction network (RIN), as well as the links between the two networks. The key to building SRN-RIN two-layer network for a construction project is identifying three relationship sets, includes the stakeholders’ relationship, the risk interaction relationship, and the relationship between stakeholders and risks. An illustrative example is conducted to illustrate the analysis process. This work advances the research on risk interaction in construction projects by incorporating human behavior. The findings will provide support for project managers to improve their risk response decision, which will contribute to the construction project success.
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Construction Research Congress 2022
Pages: 794 - 804
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Published online: Mar 7, 2022
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