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

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. ISSN 2397-3757 (In Press)

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Abstract

Purpose - We identify and further aggregate into dimensions, the most commonly engaged risk factors in dry port projects. Noting the importance of developing a multi-perspective of risk, we further assess the priority, interdependency, and heterogeneity of the identified risk dimensions. Design/methodology/approach – We identify from the literature, 44 risk factors which are aggregated via Exploratory Factor Analysis (EFA) into eight major risk dimensions. We employ a Fuzzy-based DEMATEL relationship map to articulate various relationships among the risk dimensions. Findings – ‘Cost’ emerges as the most important risk influencing the success of dry ports project, followed by ‘Location’, ‘Accessibility’, ‘Infrastructural’, and ‘Operational’, which were also ranked prominently. Originality/value - This study offers significant insight to 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. Insights gleaned from the study extend globally as it serves as a concrete knowledge base to understand potential barriers to successful dry port projects.

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