Risk management to avoid project failure: a comparison study of construction projects in the GCC

Ahmad Yousef Areiqat, Asaad Alali and Yousef Arikat

International Journal of Business Continuity and Risk Management, 2018, vol. 8, issue 2, 87-105

Abstract: This study aims to identify the basic failure and success factors of construction projects in the six Gulf Cooperation Council (GCC) countries using secondary and qualitative data, articles, journals and case studies to draw some conclusions. The study found that falling oil prices have a significant impact on projects because they affect their financial support and that poor risk management caused delays and cost overruns. Additionally, the lack of a well-established plan or good planning before commencing the project leads to delays and ultimately project failure. Recommendations and conclusions, such as increasing and improving the risk management training necessary to predict and avoid the deeper risks in different projects, are based on the analysis and the understanding of the literature review and case studies. Setting up alternative back-up plans in the event the project fails and PESTEL risk analysis, which focuses on multidimensional factors, should be used.

Keywords: risk management; construction projects; Gulf Cooperation Council; GCC. (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=92910 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijbcrm:v:8:y:2018:i:2:p:87-105

Access Statistics for this article

More articles in International Journal of Business Continuity and Risk Management from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().