Evaluating the Response to Risks in Complex Construction Projects Using the Fuzzy TOPSIS Method

Article Type:
Research/Original Article (دارای رتبه معتبر)
The swift expansion of intricate projects in the global construction industry has prompted numerous investigations in the last twenty years, highlighting the significance of comprehending project intricacy for the triumph of construction project management. Identifying, assessing, and ranking procedures in response to risk is a crucial yet currently difficult aspect of project management to handle intricate projects at every phase of their existence effectively. Project managers have consistently focused on complexity and its linked hazards since it is a significant factor in project cost and time delays. This study explores the correlation between project complexity and modeling its outcomes' risks.
The study employed a deductive, positivistic methodology. The literature review examined the history and definition of complex projects. The risk factors were identified based on the underlying causes of the project's complexity. To achieve the best possible outcome in financial terms, a comprehensive model was proposed that considered the type of project contract with different risk response activities. The model was then tested by analyzing the risks associated with a sample project, and cost-response index graphs were generated for each risk individually and aggregated.
This research aimed to examine the current state and developments in project complexity research and to provide valuable insights for scholars and practitioners. The study's findings indicated that risks do not impact all projects equally. It was found that the actual effects of a risk event depend not only on the event itself but also on the management actions taken to address the contingency and their timing. These factors can influence the severity of the problems caused by the event and its ripple effects throughout the project organization.
According to the results of this field study, risks do not uniformly affect all projects. The actual impact of a risk event is contingent not only on the nature of the event itself but also on the managerial response to the contingency and its timing. These factors can influence the severity of problems caused by the event and the cascading effects within the project organization. While no single set of guidelines can guarantee project success, it is essential to recognize that the process is not random. A better understanding of the organizational dynamics that affect project performance and the factors contributing to risks in complex projects is a crucial precondition for creating a cross-functional solid team capable of managing risks before they negatively impact project outcomes. Therefore, this study can represent the first attempt to investigate the relationship between project complexity, risk consequences, and financial goals in complex construction projects. Among the various criteria contributing to complexity, the project's content, organization, and external environment were identified as the most significant risk generators in complex construction projects.
Journal of Industrial Management, Volume:15 Issue: 49, 2023
335 to 364
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