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Identifying Political Risk Management Strategies in International Construction Projects
Joint Authors
Chang, Tengyuan
Hwang, Bon-Gang
Deng, Xiaopeng
Zhao, Xianbo
Source
Issue
Vol. 2018, Issue 2018 (31 Dec. 2018), pp.1-11, 11 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2018-06-25
Country of Publication
Egypt
No. of Pages
11
Main Subjects
Abstract EN
International construction projects are plagued with political risk, and international construction enterprises (ICEs) must manage this risk to survive.
However, little attention has been devoted to political risk management strategies in international construction projects.
To fill this research gap, a total of 27 possible strategies were identified through a comprehensive literature review and validated by a pilot survey with 10 international experts.
Appraisals of these 27 strategies by relevant professionals were collected using questionnaires, 155 of which were returned.
Exploratory factor analysis was conducted to explore the interrelationships among these 27 strategies.
The results show that all of the 27 strategies are important for political risk management in international construction projects.
Moreover, these 27 strategies were clustered into six components, namely, (1) making correct decisions, (2) conducting favorable negotiations, (3) completing full preparations, (4) shaping a good environment, (5) reducing unnecessary mistakes, and (6) obtaining a reasonable response.
The 6 components can be regarded as 6 typical management techniques that contribute to political risk management in the preproject phase, project implementation phase, and postevent phases.
The findings may help practitioners gain an in-depth understanding of political risk management strategies in international construction projects and provide a useful reference for ICEs to manage political risks when venturing outside their home countries.
American Psychological Association (APA)
Chang, Tengyuan& Hwang, Bon-Gang& Deng, Xiaopeng& Zhao, Xianbo. 2018. Identifying Political Risk Management Strategies in International Construction Projects. Advances in Civil Engineering،Vol. 2018, no. 2018, pp.1-11.
https://search.emarefa.net/detail/BIM-1115317
Modern Language Association (MLA)
Chang, Tengyuan…[et al.]. Identifying Political Risk Management Strategies in International Construction Projects. Advances in Civil Engineering No. 2018 (2018), pp.1-11.
https://search.emarefa.net/detail/BIM-1115317
American Medical Association (AMA)
Chang, Tengyuan& Hwang, Bon-Gang& Deng, Xiaopeng& Zhao, Xianbo. Identifying Political Risk Management Strategies in International Construction Projects. Advances in Civil Engineering. 2018. Vol. 2018, no. 2018, pp.1-11.
https://search.emarefa.net/detail/BIM-1115317
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1115317