PROVIDING A MULTI-LEVEL MODEL FOR RISK MANAGEMENT OF ROAD CONSTRUCTION PROJECTS BASED ON KEY STAKEHOLDERS (A HYBRID APPROACH: META-ANALYSIS AND STRUCTURAL INTERPRETIVE MODELING)
Keywords:
Risk Management, Road Construction Projects, Structural Interpretive Modeling.Abstract
Risk management in road construction projects is of particular importance due to their technical, economic, and social complexities. This study aims to provide a multi-level model for risk management of road construction projects based on key stakeholders. In this study, a hybrid approach of meta-analysis and structural interpretive modeling (ISM) has been used. First, using meta-analysis, key risks of road construction projects were extracted and categorized from previous studies. Then, using structural interpretive modeling, the relationships between risks and the roles of key stakeholders (such as the employer, contractor, consultant, and local community) in managing these risks were analyzed. The results of the study indicate a multi-level model in which project risks are classified into three levels: strategic, operational, and environmental, and stakeholder interactions at each level are identified to reduce the negative effects of risks. This model can be used as a guide for project managers to improve decision-making and reduce uncertainty in road construction projects.
