Technical Papers
Sep 7, 2021

Managing External Risk Factors on Oil and Gas Project Success: A Dream for All Firms

Publication: ASCE-ASME Journal of Risk and Uncertainty in Engineering Systems, Part A: Civil Engineering
Volume 7, Issue 4

Abstract

Embedded in the Malaysian oil and gas sectors’ experience, this study assesses the impact of external risk factors, which include political, economic, social, and environmental risk factors, and government support on the success of oil and gas construction projects in Malaysia using 61 employees of the oil and gas firms using a questionnaire survey. Structural equation modeling (SEM) results revealed that all the exogenous variables (political risk, economic risk, social risk, and environmental risk factors as well as government support) have a significant positive effect on project success. SEM results show that government support has no significant moderating effect on the impact of political, economic, social, and environmental risk factors on project success. The study developed an all-inclusive framework that can assist stakeholders in the sector in mitigating external risk factors in ensuring the success of projects. Policy implications and future study directions are also considered.

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Data Availability Statement

Some or all data, models, or code that support the findings of this study are included as part of this manuscript. These include raw data from Malaysia Petroleum Resources Corporation (MPRC), quantitative output from Statistical Package for Social Sciences (SPSS) and SmartPLS, and output of SPSS and SmartPLS, which are included as part of this paper (like tables and figures).

Acknowledgments

This work was supported by the Fundamental Research Grant Scheme Managed University Malaysia Pahang (Grant No. RDU190127).

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Go to ASCE-ASME Journal of Risk and Uncertainty in Engineering Systems, Part A: Civil Engineering
ASCE-ASME Journal of Risk and Uncertainty in Engineering Systems, Part A: Civil Engineering
Volume 7Issue 4December 2021

History

Received: Mar 31, 2021
Accepted: Jul 25, 2021
Published online: Sep 7, 2021
Published in print: Dec 1, 2021
Discussion open until: Feb 7, 2022

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Adekunle Qudus Adeleke
Senior Lecturer, Faculty of Industrial Management, Universiti Malaysia Pahang, Kuantan 26300, Malaysia.
Ph.D. Fellow, Faculty of Industrial Management, Universiti Malaysia Pahang, Kuantan 26300, Malaysia (corresponding author). ORCID: https://orcid.org/0000-0001-6372-9905. Email: [email protected]
Gerry Nkombo Muuka
Professor, College of Business, Al Ghurair Univ., Dubai International Academic City, P.O. Box 37374, Dubai, United Arab Emirates.
Mohd Ridzuan Darun
Associate Professor, Faculty of Industrial Management, Universiti Malaysia Pahang, Kuantan 26300, Malaysia.
Taofeeq Durojaye Moshood
Ph.D. Fellow, Faculty of Industrial Management, Universiti Malaysia Pahang, Kuantan 26300, Malaysia.

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Cited by

  • Review of studies on risk factors in critical infrastructure projects from 2011 to 2023, Smart and Sustainable Built Environment, 10.1108/SASBE-09-2023-0285, (2024).
  • Challenges to the Implementation of BIM for the Risk Management of Oil and Gas Construction Projects: Structural Equation Modeling Approach, Sustainability, 10.3390/su15108019, 15, 10, (8019), (2023).
  • A Structural Equation Model to Analyze the Effects of COVID-19 Pandemic Risks on Project Success: Contractors’ Perspectives, ASCE-ASME Journal of Risk and Uncertainty in Engineering Systems, Part A: Civil Engineering, 10.1061/AJRUA6.RUENG-1008, 9, 3, (2023).

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