Preliminary Study of Risk Factors in Marine Construction Projects in Saudi Arabia
Keywords:
Marine construction projects, risk factors, risk assessment.Abstract
Marine-construction projects are becoming increasingly important for the development of the maritime industry. However, such increases are hampered by various risks that can significantly impact growth. Natural forces, political events, administrative and operational mistakes, equipment failures, external attacks such as arson, and economic events are some of the major risks faced by firms in this industry. Researchers have paid little attention to marine-construction risk assessment, despite the importance of such research. This study sought to investigate risks associated with marine construction projects. A questionnaire survey tool was conducted in this study targeting expertise in Saudi Arabian marine-construction industry resulting in a response rate of 62.5%. Participants were asked to rate the occurrences and impacts on project’ safety, schedule, and cost of 37 identified marine construction risk factors. Reliability of gathered data, correlation among the variables, and risk score analyses were performed in this study. The findings of this study indicated that “Unskilled Contractor Labor” had the highest risk scores on marine-construction projects. The study recommends that the marine-construction industry should conduct additional studies to investigate and evaluate risks aspects.
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