Assessing risk dimensions in dry port projects : prioritization, interdependence and heterogeneity

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Rodrigues, Thiago de Almeida and Ojiako, Udechukwu and Mota, Caroline Maria de Miranda and Marshall, Alasdair and Chipulu, Maxwell and Dweiri, Fikri T. (2024) Assessing risk dimensions in dry port projects : prioritization, interdependence and heterogeneity. Maritime Business Review, 9 (4). pp. 311-330. ISSN 2397-3757 (https://doi.org/10.1108/MABR-09-2023-0064)

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Abstract

Purpose: We identify and further aggregate the most commonly engaged risk factors in dry port projects into dimensions. Noting the importance of developing a multi-perspective view of risk, we further assess the priority, interdependency and heterogeneity of the identified risk dimensions. Design/methodology/approach: We identified 44 risk factors from the literature, which were aggregated via exploratory factor analysis (EFA) into 8 major risk dimensions. We employ a fuzzy-based decision-making trial and evaluation laboratory (DEMATEL) relationship map to articulate various relationships among the risk dimensions. Findings: “Cost” emerged as the most important risk influencing the success of the dry port project, followed by “location,” “accessibility,” “infrastructural” and “operational,” which were also ranked prominently. Originality/value: This study offers significant insights into the management of risk in dry port projects. By aggregating key risk factors into distinct dimensions, we develop a structured framework for effective risk assessment and management. The insights gleaned from the study extend globally as it serves as a concrete knowledge base to understand potential barriers to successful dry port projects.

ORCID iDs

Rodrigues, Thiago de Almeida, Ojiako, Udechukwu ORCID logoORCID: https://orcid.org/0000-0003-0506-2115, Mota, Caroline Maria de Miranda, Marshall, Alasdair, Chipulu, Maxwell and Dweiri, Fikri T.;
CORE (COnnecting REpositories)