Risks assessment using Structural Equation Modeling: Mega Housing Projects construction in Egypt

Document Type

Article

Publication Date

Summer 6-25-2022

Abstract

The Mega Housing Projects (MHP) construction in Egypt is saddled with numerous risks that emerged from the risk knowledge dearth, steering these projects to elusive failure apropos to completion time and construction cost. The research's novel contribution is a risk assessment Structural Equation Modeling (SEM) approach that spotlights the critical risk factors confronting MHP in Egypt concerning Probability of Occurrence (POO), Impact on Time (IOT), and Impact on Cost (IOC), from the contractors perspective. Forty-three risk factors were amassed from the literature and lessened to 25, delineating the significant risks impacting the MHP schedule and budget resentfully. The primary paper's objectives are determining the captious risk factors and ranking their relative importance weights. A questionnaire survey was conducted, and distinctive construction professionals solicited feedback. Quantitative data obtained from 103 valid responses were analysed using SEM, and the measurement and structural models were validated. Data analysis revealed that the project management risks procure the prime relative importance weight concerning POO, IOT, and IOC at 32.09%, 26.04%, and 32.93% mutually. Findings will equip contractors with a model to pinpoint and rank the censorious risk factors impacting the MHP to prioritise allotting budgetary scenarios among risks to vanquish cost and time overruns.

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