Assessing risk dimensions in dry port projects: prioritization, interdependence and heterogeneity

Thiago de Almeida Rodrigues, Udechukwu Ojiako, Caroline Maria de Miranda Mota, Alasdair Marshall, Maxwell Chipulu and Fikri Dweiri

Maritime Business Review, 2024, vol. 9, issue 4, 311-330

Abstract: Purpose - We identify and further aggregate the most commonly engaged risk factors in dry port projects into dimensions. Noting the importance of developing a multi-perspective view of risk, we further assess the priority, interdependency and heterogeneity of the identified risk dimensions. Design/methodology/approach - We identified 44 risk factors from the literature, which were aggregated via exploratory factor analysis (EFA) into 8 major risk dimensions. We employ a fuzzy-based decision-making trial and evaluation laboratory (DEMATEL) relationship map to articulate various relationships among the risk dimensions. Findings - “Cost” emerged as the most important risk influencing the success of the dry port project, followed by “location,” “accessibility,” “infrastructural” and “operational,” which were also ranked prominently. Originality/value - This study offers significant insights into the management of risk in dry port projects. By aggregating key risk factors into distinct dimensions, we develop a structured framework for effective risk assessment and management. The insights gleaned from the study extend globally as it serves as a concrete knowledge base to understand potential barriers to successful dry port projects.

Keywords: Dry port projects; Risk identification; Priority; Interdependencies; Heterogeneity; Multistakeholder perspective (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:mabrpp:mabr-09-2023-0064

DOI: 10.1108/MABR-09-2023-0064

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