Risk management of oil refinery construction project: an Indian case study

Ruchita Gupta, Biswadeepak Das and Karuna Jain

International Journal of Project Organisation and Management, 2021, vol. 13, issue 3, 218-244

Abstract: To meet domestic and international requirements, new oil refinery construction projects have been initiated in India. However, major projects are months behind the schedule. The purpose of this paper is to identify and rank risks and understand interrelationships among them in Indian oil refinery construction projects. A case study research design is adopted. Oil and gas organisation experts involved in refinery projects were interviewed to identify risks and to make their assessments on the probability and impact of risk occurrence. Using interpretive structural modelling, interrelationships among the highly ranked risks are revealed along with their driving and dependence power. The research contributes by identifying three risks having high driving, low dependence power and nine risks with high dependence, high driving power requiring maximum attention for project completion. These insights are important during initiation and planning phase of refinery construction projects to take appropriate measures for risk mitigation.

Keywords: oil and gas; refinery; construction project; risk management; India; interpretive structural modelling; ISM. (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijpoma:v:13:y:2021:i:3:p:218-244

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