An analytical network process model for risks prioritisation in megaprojects.

Boateng, Prince; Chen, Zhen; Ogunlana, Stephen O.

doi:10.1016/j.ijproman.2015.08.007

Authors

Prince Boateng

Zhen Chen

Stephen O. Ogunlana

Abstract

Megaprojects are complex and expensive projects that often involve social, technical, economic, environmental and political (STEEP) challenges to project management. Despite these challenges, project owners and financiers continue to invest large sums of money in megaprojects that run high risks of being over schedule and over budget. While some degree of cost and schedule risks are considered during project planning, the challenge of modelling risks interactions and impacts on project performance still remains. To tackle this technical problem, this research adopted the Analytical Network Process and combined it with a new Risk Priority Index as an innovative approach to model risks analytically based on data collected from the Edinburgh Tram Network project at the construction phase. The approach provides an interactive way for developers to prioritise risks across the project supply network and to initiate timely mitigation strategies against significant cost and time consequences of STEEP risks on megaproject performance.

Citation

BOATENG, P., CHEN, Z. and OGUNLANA, S.O. 2015. An analytical network process model for risks prioritisation in megaprojects. International journal of project management [online], 33(8), pages 1795-1811. Available from: https://doi.org/10.1016/j.ijproman.2015.08.007

Journal Article Type	Article
Acceptance Date	Aug 25, 2015
Online Publication Date	Sep 29, 2015
Publication Date	Nov 30, 2015
Deposit Date	Feb 29, 2016
Publicly Available Date	Sep 30, 2018
Journal	International journal of project management
Print ISSN	0263-7863
Electronic ISSN	1873-4634
Publisher	Elsevier
Peer Reviewed	Peer Reviewed
Volume	33
Issue	8
Pages	1795-1811
DOI	https://doi.org/10.1016/j.ijproman.2015.08.007
Keywords	Risk assessment; Analytical Network Process; Megaproject; Decision making
Public URL	http://hdl.handle.net/10059/1393