Risk Identification and Assessment of Mega Industrial Projects in Egypt

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Abstract: Owners tend to use (custom) contracts to suit their project needs and specifications, and they often assign excessive risks to contractors. The current paper's goal is to look into the current risk distribution in Mega industrial projects in Egypt. Where correctly identifying, assessing, and allocating risks in contracts can improve project performance. Based on an extensive literature review, the study identified 70 risk factors that are divided into nine groups. The respondents were asked to estimate the probability, impact, and way to control these risk factors. The results indicate that there is a problem in allocating risks in these projects and the top-ranked risk factors are procurement Problems, subcontractors' failure to comply with the schedule, unclear responsibility matrix, indecisive management, compliance risks (H&SE), and delay due to permit and consent from statutory bodies. These risk factors demonstrated that the current risk allocation practice in construction projects is inefficient and led to several other problems, such as claims, disputes, and aggressive relationships. The research is divided into two papers, Paper II will discuss how to mitigate these problems by redistributing risks equitably in a balanced construction contract to eliminate conflicts and adversarial relationships. The study's findings may help practitioners in allocating risks to partners who are better able to assess, control, and manage them. The risk ranking that was produced can be used to evaluate risks for contingency planning. Keywords: Risk allocation, Relative Importance Index, Frequency-Adjusted Frequency Index, Risk identification, optimal risk, risk management. Title: Risk Identification and Assessment of Mega Industrial Projects in Egypt Author: Mona Abdel Hamid Hassanen, Ahmed Mohammed Abdelalim International Journal of Management and Commerce Innovations ISSN 2348-7585 (Online) Vol. 10, Issue 1, April 2022 - September 2022 Page No: 187-199 Research Publish Journals Website: www.researchpublish.com Published Date: 25-May-2022 DOI: https://doi.org/10.5281/zenodo.6579176 Paper Download Link (Source): https://www.researchpublish.com/papers/risk-identification-and-assessment-of-mega-industrial-projects-in-egypt

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