Implementing Risk Management Strategies in Large-Scale Construction Projects
Abstract
This study examines the impacts of risk factors on time, cost, and quality in the delivery of mega projects. It identifies delayed supply chains, financial constraints, and client-related delays as some of the most critical risks. It offers fact-based insights into improving risk management strategies for large-scale construction projects. The research method is based on quantitative analysis, using t-tests, regression, and correlation to assess the severity of different risk factors and to test the instrument’s tools, such as Cronbach’s Alpha, which reported a reliability level of 0.932. Additionally, the Kaiser–Meyer–Olkin test, which ensures sampling adequacy, yielded a score of 0.495. The research relies on secondary information and limited sampling, which may influence the overall outcome of this study. The results have practical implications for project managers, enabling them to prioritize risk mitigation measures. The current study provides an integrated comparison between existing literature and new empirical evidence, potentially offering substantial value in understanding the evolving nature of risk management in the construction sector.
