Economic and Time Risk Factors Influencing the Construction Projects: A Case Study of Lebanese Construction Projects

IF 1 Q4 ENGINEERING, CIVIL

Jordan Journal of Civil Engineering Pub Date : 2023-07-10 DOI:10.14525/jjce.v17i3.03

O. Ahmad, Fatemeh Nouban

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Abstract

In recent years, Lebanon has been grappling with a multitude of crises across all sectors, presenting numerous challenges that have hindered the progress of the construction industry. The construction industry in Lebanon is plagued by a complex array of risks that can lead to the downfall of construction projects. Therefore, this study is primarily concerned with identifying the most crucial economic and time risk factors influencing the Lebanese construction projects. To achieve the research aim, a questionnaire was initially developed from a review of various sources of literature and then refined to reflect the unique circumstances faced by Lebanon in recent years. In addition to that, some interviews to analyze the economic and time risk factors were conducted among expert respondents in the Lebanese construction industry. Then, the relative important index (RII) was applied in order to classify the major risk factors. The findings obtained from the study reveal that currency fluctuation, risk of war, geological risks, risk of pandemics and vendor failures are the most crucial risk factors that influence the time and cost of the Lebanese construction projects. Finally, in order to mitigate the occurrence of the most critical risk factors identified in this study and ensure successful construction projects in Lebanon, effective risk-management strategies should be implemented. KEYWORDS: Risk factors, Construction projects, Cost, Time, Lebanon.

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影响建设项目的经济和时间风险因素——以黎巴嫩建设项目为例

近年来，黎巴嫩一直在努力应对各个部门的众多危机，这些危机带来了许多挑战，阻碍了建筑业的发展。黎巴嫩的建筑业受到一系列复杂风险的困扰，这些风险可能导致建筑项目的倒闭。因此，本研究主要关注确定影响黎巴嫩建筑项目的最关键的经济和时间风险因素。为了实现研究目标，最初根据对各种文献来源的审查编制了一份问卷，然后进行了改进，以反映黎巴嫩近年来面临的独特情况。除此之外，还对黎巴嫩建筑业的专家受访者进行了一些访谈，以分析经济和时间风险因素。然后，应用相对重要指数（RII）对主要危险因素进行分类。研究结果表明，货币波动、战争风险、地质风险、流行病风险和供应商倒闭是影响黎巴嫩建筑项目时间和成本的最关键风险因素。最后，为了减少本研究中确定的最关键风险因素的发生，并确保黎巴嫩的建筑项目取得成功，应实施有效的风险管理策略。关键词：风险因素，建设项目，成本，时间，黎巴嫩。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Jordan Journal of Civil Engineering ENGINEERING, CIVIL-

CiteScore

2.10

自引率

27.30%

发文量

期刊介绍： I am very pleased and honored to be appointed as an Editor-in-Chief of the Jordan Journal of Civil Engineering which enjoys an excellent reputation, both locally and internationally. Since development is the essence of life, I hope to continue developing this distinguished Journal, building on the effort of all the Editors-in-Chief and Editorial Board Members as well as Advisory Boards of the Journal since its establishment about a decade ago. I will do my best to focus on publishing high quality diverse articles and move forward in the indexing issue of the Journal.