Model for Early Risk Identification to Enhance Cost and Schedule Performance in Construction Projects

References

[1] Adafin, J. (2020). Risk management in construction projects: A conceptual framework. Journal of Construction Engineering and Management, 146(2), 04019097. https://doi.org/10.1061/(ASCE)CO.1943-7862.0001745

[2] Aibinu, A. A. & Jagboro, G. O. (2002). The effects of construction delays on project delivery in Nigerian construction industry. International Journal of Project Management, 20(8), 593–599. https://doi.org/10.1016/S0263-7863(02)00028-5

[3] Al-Bahar, J. F. & Crandall, K. C. (1990). Systematic risk management approach for construction projects. Journal of Construction Engineering and Management, 116(3), 533–546. https://doi.org/10.1061/(ASCE)0733-9364(1990)116:3(533)

[4] Alinaitwe, H. M., Apolot, R. & Tindiwensi, D. (2013). Investigation into the causes of delays and cost overruns in Uganda's public sector construction projects. Journal of Construction in Developing Countries, 18(2), 33–47.

[5] Assaf, S. A. & Al-Hejji, S. (2006). Causes of delay in large construction projects. International Journal of Project Management, 24(4), 349–357. https://doi.org/10.1016/j.ijproman.2005.11.010

[6] Atkinson, R. (1999). Project management: Cost, time and quality, two best guesses and a phenomenon, it’s time to accept other success criteria. International Journal of Project Management, 17(6), 337–342. https://doi.org/10.1016/S0263-7863(98)00069-6

[7] Aven, T. (2016). Risk assessment and risk management: Review of recent advances on their foundation. European Journal of Operational Research, 253(1), 1–13. https://doi.org/10.1016/j.ejor.2016.03.008

[8] Baloi, D. & Price, A. D. F. (2003). Modelling global risk factors affecting construction cost performance. International Journal of Project Management, 21(4), 261–269. https://doi.org/10.1016/S0263-7863(02)00017-0

[9] Chapman, C. & Ward, S. (2003). Project Risk Management: Processes, Techniques, and Insights. John Wiley & Sons.

[10] Choudhry, R. M. & Iqbal, K. (2013). Identification of risk management barriers in construction projects. Journal of Management in Engineering, 29(3), 224–229. https://doi.org/10.1061/(ASCE)ME.1943-5479.0000138

[11] Doloi, H., Sawhney, A., Iyer, K. C. & Rentala, S. (2012). Analysing factors affecting delays in Indian construction projects. International Journal of Project Management, 30(4), 479–489. https://doi.org/10.1016/j.ijproman.2011.10.004

[12] El-Sayegh, S. M. (2008). Risk assessment and allocation in the UAE construction industry. International Journal of Project Management, 26(4), 431–438. https://doi.org/10.1016/j.ijproman.2007.07.004

[13] Flyvbjerg, B. (2014). What you should know about megaprojects and why: An overview. Project Management Journal, 45(2), 6–19. https://doi.org/10.1002/pmj.21409

[14] Ghosh, S. & Jintanapakanont, J. (2004). Identifying and assessing the critical risk factors in an Indian construction project. International Journal of Project Management, 22(8), 627–636. https://doi.org/10.1016/j.ijproman.2004.05.004

[15] Hwang, B. G., Zhao, X. & Toh, L. P. (2014). Risk management in small construction projects in Singapore: Status, barriers and impact. International Journal of Project Management, 32(1), 116–124. https://doi.org/10.1016/j.ijproman.2013.01.007

[16] Kerzner, H. (2017). Project Management: A Systems Approach to Planning, Scheduling, and Controlling. John Wiley & Sons.

[17] Kikwasi, G. J. (2012). Causes and effects of delays and disruptions in construction projects in Tanzania. Australasian Journal of Construction Economics and Building, 12(2), 52–59. https://doi.org/10.5130/ajceb.v12i2.2331

[18] Ling, F. Y. Y. & Hoi, L. (2006). Risks faced by Singapore firms when undertaking construction projects in India. International Journal of Project Management, 24(3), 261–270. https://doi.org/10.1016/j.ijproman.2005.06.001

[19] Love, P. E. D. & Smith, J. (2016). Tolerance for rework in construction: A case study. International Journal of Project Management, 34(2), 421–432. https://doi.org/10.1016/j.ijproman.2015.12.001

[20] Mbachu, J. & Nkado, R. (2007). Factors constraining successful building project implementation in South Africa. Construction Management and Economics, 25(1), 39–54. https://doi.org/10.1080/01446190600601297

[21] Odeh, A. M. & Battaineh, H. T. (2002). Causes of construction delay: Traditional contracts. International Journal of Project Management, 20(1), 67–73. https://doi.org/10.1016/S0263-7863(01)00052-7

[22] Olatunji, O. A. (2010). Influences on construction project delivery time performance in Nigeria. Australasian Journal of Construction Economics and Building, 10(1/2), 1–14. https://doi.org/10.5130/ajceb.v10i1/2.1446

[23] PMI (2017). A Guide to the Project Management Body of Knowledge (PMBOK® Guide) (6th ed.). Project Management Institute.

[24] Pinto, J. K. & Slevin, D. P. (1987). Critical success factors in effective project implementation. Project Management Journal, 18(1), 67–75.

[25] Raz, T. & Michael, E. (2001). Use and benefits of tools for project risk management. International Journal of Project Management, 19(1), 9–17. https://doi.org/10.1016/S0263-7863(99)00036-8

[26] Sambasivan, M. & Soon, Y. W. (2007). Causes and effects of delays in Malaysian construction industry. International Journal of Project Management, 25(5), 517–526. https://doi.org/10.1016/j.ijproman.2006.11.007

[27] Smith, N. J., Merna, T. & Jobling, P. (2006). Managing Risk in Construction Projects (2nd ed.). Blackwell Publishing.

[28] Tah, J. H. M. & Carr, V. (2001). Towards a framework for project risk knowledge management in the construction supply chain. Advances in Engineering Software, 32(10–11), 835–846. https://doi.org/10.1016/S0965-9978(01)00030-1

[29] Turner, J. R. (1999). The Handbook of Project-Based Management: Improving the Processes for Achieving Strategic Objectives (2nd ed.). McGraw-Hill.

[30] Ward, S. & Chapman, C. (2003). Transforming project risk management into project uncertainty management. International Journal of Project Management, 21(2), 97–105. https://doi.org/10.1016/S0263-7863(02)00044-6

[31] Zou, P. X. W., Zhang, G. & Wang, J. (2007). Understanding the key risks in construction projects in China. International Journal of Project Management, 25(6), 601–614. https://doi.org/10.1016/j.ijproman.2007.02.006

[32] Adeyemo, A. (2021). Risk management strategies for infrastructure projects: A case of sub-Saharan Africa. International Journal of Construction Management, 21(6), 789–801. https://doi.org/10.1080/15623599.2019.1639124

[33] Afolabi, A. (2021). Construction risk management practices in developing countries: Challenges and opportunities. Journal of Construction Engineering and Management, 147(4), 05021004. https://doi.org/10.1061/(ASCE)CO.1943-7862.0002035

[34] Alaloul, W. S., Liew, M. S. & Zawawi, N. A. W. A. (2020). Identification of critical success factors for risk management in construction projects. Journal of Engineering, Design and Technology, 18(1), 144–161. https://doi.org/10.1108/JEDT-03-2019-0073

[35] Alizadeh, R. (2021). Integrated risk management frameworks for large-scale projects: A case study approach. International Journal of Project Management, 39(7), 765–778. https://doi.org/10.1016/j.ijproman.2021.06.002

[36] Al-Momani, A. (2020). Construction delays: Common causes and mitigation strategies. Journal of Construction Engineering, 25(2), 110–122.

[37] Alzahrani, J. I. & Emsley, M. W. (2021). The impact of risk factors on construction project objectives. Journal of Construction Management and Economics, 39(2), 150–165.

[38] Asiedu, R. O. (2021). Risk assessment methodologies for sustainable construction practices. International Journal of Sustainable Construction, 8(2), 215–230.

[39] Ayodele, E. (2020). Risk management frameworks for project success: A Nigerian case study. International Journal of Project Risk Management, 14(1), 77–93.

[40] Bamidele, B. (2021). Data-driven approaches for early risk detection in construction projects. International Journal of Construction Management, 21(5), 602–615.

[41] Chileshe, N. & Kikwasi, G. (2020). An assessment of risk management practices in Tanzanian construction projects. Journal of Construction Management, 18(3), 311–325.

[42] Dada, M. O. (2020). Risk management in public-private partnership projects in Nigeria: Challenges and solutions. Built Environment Journal, 17(2), 65–78.

[43] Dikko, H. G. (2021). Mitigating cost overruns in public construction projects: A risk management perspective. Journal of Construction Project Management, 10(4), 450–462.

[44] Eze, C. (2020). Risk management practices for sustainable project delivery: Evidence from Nigeria. International Journal of Construction Innovation, 13(1), 24–38.

[45] Fagbenle, O. (2020). Impact of poor risk management on project delays in Nigerian construction sector. Journal of Risk and Financial Management, 13(7), 142–158.

[46] Oyewale, Oyedokun (2021). Impact of procurement strategies on project performance in Nigeria: A study of Lagos State. International Journal of Construction Management, 14(3), 245–260.

[47] Oyeronke, A. A. (2020). Risk management strategies in Nigerian construction projects. African Journal of Business Management, 14(7), 189–203.

[48] Ogunwole, O. F. (2022). Early warning signs for risk identification in complex construction projects. Construction Management and Economics, 40(1), 34–48.

[49] Adewoyin, M. S. (2021). Innovations in construction risk management: A review of recent approaches. Journal of Risk and Uncertainty in Construction, 29(2), 145–159.

[50] Joyce, I. K. (2022). Evaluating the impact of early risk detection on cost performance in infrastructure projects. Engineering, Construction, and Architectural Management, 29(5), 803–819.

[51] Nwaozomudoh, M. C. (2022). A comparative analysis of risk assessment tools in construction projects. Journal of Construction Engineering, 48(3), 312–327.

[52] Enoch, P. O. (2022). A review of project delivery methods and their implications on risk management. Journal of Project Management, 35(4), 556–572.

[53] Favour, U. A. (2021). An analysis of the impact of contractor pre-qualification on project success. Journal of Construction Research, 14(6), 289–304.

[54] Osazee, E. O. (2020). Contractual frameworks and risk allocation in construction projects. International Journal of Project Management, 38(7), 555–569.

[55] Okenwa, O. O. (2022). The role of early risk identification in reducing cost overruns in construction projects. International Journal of Construction Management, 18(2), 167–181.

[56] Thelma, O. (2021). An evaluation of stakeholder engagement in construction risk management. Journal of Construction Management, 45(5), 445–460.

[57] Oluchukwu, O. O. (2022). Risk prioritization models for effective project management. Journal of Risk Analysis and Management, 12(4), 337–352.

[58] Babatunde, B. O. (2020). Effectiveness of project management practices in the Nigerian construction industry. Journal of Engineering, Design, and Technology, 18(1), 223–239.

[59] Ogundipe, O. A. (2021). Optimizing construction schedules through predictive risk analysis. Journal of Construction Engineering and Management, 147(3), 402–415.

[60] Uher, T. E. & Toakley, A. R. (1999). Risk management in the conceptual phase of a project. International Journal of Project Management, 17(3), 161–169. https://doi.org/10.1016/S0263-7863(98)00023-4

[61] Choudhry, R. M., Aslam, M. A., Hinze, J. & Arain, F. M. (2014). Cost and schedule risk analysis of bridge construction in Pakistan. Journal of Construction Engineering and Management, 140(3), 1–12. https://doi.org/10.1061/(ASCE)CO.1943-7862.0000803

[62] Pinto, J. K. (2020). Project Management: Achieving Competitive Advantage (5th ed.). Pearson Education.

[63] Winch, G. M. (2010). Managing Construction Projects. Wiley-Blackwell.

[64] Smith, N. J. (2014). Engineering Project Management. Blackwell Science.

[65] Project Management Institute (PMI). (2021). Practice Standard for Project Risk Management. PMI Global.

[66] Aven, T. (2016). Risk assessment and risk management: Review of recent advances on their foundation. European Journal of Operational Research, 253(1), 1–13. https://doi.org/10.1016/j.ejor.2016.03.008

[67] Flyvbjerg, B. (2014). What you should know about megaprojects and why: An overview. Project Management Journal, 45(2), 6–19. https://doi.org/10.1002/pmj.21409

[68] Kerzner, H. (2017). Project Management: A Systems Approach to Planning, Scheduling, and Controlling. John Wiley & Sons.

[69] PMI (2017). A Guide to the Project Management Body of Knowledge (PMBOK® Guide) (6th ed.). Project Management Institute.

[70] Pinto, J. K. & Slevin, D. P. (1987). Critical success factors in effective project implementation. Project Management Journal, 18(1), 67–75.

[71] Raz, T. & Michael, E. (2001). Use and benefits of tools for project risk management. International Journal of Project Management, 19(1), 9–17. https://doi.org/10.1016/S0263-7863(99)00036-8

[72] Sambasivan, M. & Soon, Y. W. (2007). Causes and effects of delays in Malaysian construction industry. International Journal of Project Management, 25(5), 517–526. https://doi.org/10.1016/j.ijproman.2006.11.007

[73] Smith, N. J., Merna, T. & Jobling, P. (2006). Managing Risk in Construction Projects (2nd ed.). Blackwell Publishing.

[74] Tah, J. H. M. & Carr, V. (2001). Towards a framework for project risk knowledge management in the construction supply chain. Advances in Engineering Software, 32(10–11), 835–846. https://doi.org/10.1016/S0965-9978(01)00030-1

[75] Turner, J. R. (1999). *The Handbook of Project-Based Management: Improving the Processes for Achieving Strategic Objectives (2nd ed.).* McGraw-Hill.

[76] Ward, S. & Chapman, C. (2003). Transforming project risk management into project uncertainty management. International Journal of Project Management, 21(2), 97–105. https://doi.org/10.1016/S0263-7863(02)00044-6

[77] Zou, P. X. W., Zhang, G. & Wang, J. (2007). Understanding the key risks in construction projects in China. International Journal of Project Management, 25(6), 601–614. https://doi.org/10.1016/j.ijproman.2007.02.006

[78] Adeyemo, A. (2021). Risk management strategies for infrastructure projects: A case of sub-Saharan Africa. International Journal of Construction Management, 21(6), 789–801. https://doi.org/10.1080/15623599.2019.1639124

[79] Afolabi, A. (2021). Construction risk management practices in developing countries: Challenges and opportunities. Journal of Construction Engineering and Management, 147(4), 05021004. https://doi.org/10.1061/(ASCE)CO.1943-7862.0002035

[80] Alaloul, W. S., Liew, M. S. & Zawawi, N. A. W. A. (2020). Identification of critical success factors for risk management in construction projects. Journal of Engineering, Design and Technology, 18(1), 144–161. https://doi.org/10.1108/JEDT-03-2019-0073

[81] Alizadeh, R. (2021). Integrated risk management frameworks for large-scale projects: A case study approach. International Journal of Project Management, 39(7), 765–778. https://doi.org/10.1016/j.ijproman.2021.06.002

[82] Al-Momani, A. (2020). Construction delays: Common causes and mitigation strategies. Journal of Construction Engineering, 25(2), 110–122.

[83] Alzahrani, J. I. & Emsley, M. W. (2021). The impact of risk factors on construction project objectives. Journal of Construction Management and Economics, 39(2), 150–165.

[84] Asiedu, R. O. (2021). Risk assessment methodologies for sustainable construction practices. International Journal of Sustainable Construction, 8(2), 215–230.

[85] Ayodele, E. (2020). Risk management frameworks for project success: A Nigerian case study. International Journal of Project Risk Management, 14(1), 77–93.

[86] Bamidele, B. (2021). Data-driven approaches for early risk detection in construction projects. International Journal of Construction Management, 21(5), 602–615.

[87] Chileshe, N. & Kikwasi, G. (2020). An assessment of risk management practices in Tanzanian construction projects. Journal of Construction Management, 18(3), 311–325.

[88] Dada, M. O. (2020). Risk management in public-private partnership projects in Nigeria: Challenges and solutions. Built Environment Journal, 17(2), 65–78.

[89] Dikko, H. G. (2021). Mitigating cost overruns in public construction projects: A risk management perspective. Journal of Construction Project Management, 10(4), 450–462.

[90] Eze, C. (2020). Risk management practices for sustainable project delivery: Evidence from Nigeria. International Journal of Construction Innovation, 13(1), 24–38.

[91] Fagbenle, O. (2020). Impact of poor risk management on project delays in Nigerian construction sector. Journal of Risk and Financial Management, 13(7), 142–158.

[92] Oyewale, Oyedokun (2021). Impact of procurement strategies on project performance in Nigeria: A study of Lagos State. International Journal of Construction Management, 14(3), 245–260.

[93] Oyeronke, A. A. (2020). Risk management strategies in Nigerian construction projects. African Journal of Business Management, 14(7), 189–203.

[94] Ogunwole, O. F. (2022). Early warning signs for risk identification in complex construction projects. Construction Management and Economics, 40(1), 34–48.

[95] Adewoyin, M. S. (2021). Innovations in construction risk management: A review of recent approaches. Journal of Risk and Uncertainty in Construction, 29(2), 145–159.

[96] Joyce, I. K. (2022). Evaluating the impact of early risk detection on cost performance in infrastructure projects. Engineering, Construction, and Architectural Management, 29(5), 803–819.

[97] Nwaozomudoh, M. C. (2022). A comparative analysis of risk assessment tools in construction projects. Journal of Construction Engineering, 48(3), 312–327.

[98] Enoch, P. O. (2022). A review of project delivery methods and their implications on risk management. Journal of Project Management, 35(4), 556–572.

[99] Favour, U. A. (2021). An analysis of the impact of contractor pre-qualification on project success. Journal of Construction Research, 14(6), 289–304.

[100] Osazee, E. O. (2020). Contractual frameworks and risk allocation in construction projects. International Journal of Project Management, 38(7), 555–569.

[101] Ilori, O., Lawal, C.I., Friday, S.C., Isibor, N.J. and Chukwuma-eke, E.C., 2020. Blockchain-Based Assurance Systems: Opportunities and Limitations in Modern Audit Engagements.

[102] Adesemoye, O.E., Chukwuma-Eke, E.C., Lawal, C.I., Isibor, N.J., Akintobi, A.O. and Ezeh, F.S., Integrating Digital Currencies into Traditional Banking to Streamline Transactions and Compliance.

[103] Akintobi, A.O., Okeke, I.C. and Ajani, O.B., 2022. Advancing economic growth through enhanced tax compliance and revenue generation: Leveraging data analytics and strategic policy reforms. International Journal of Frontline Research in Multidisciplinary Studies, 1(2), pp.085-093.

[104] Okolo, F.C., Etukudoh, E.A., Ogunwole, O., Osho, G.O. and Basiru, J.O., 2022. Advances in Integrated Geographic Information Systems and AI Surveillance for Real-Time Transportation Threat Monitoring.

[105] Okolo, F.C., Etukudoh, E.A., Ogunwole, O., Osho, G.O. and Basiru, J.O., 2021. Systematic Review of Cyber Threats and Resilience Strategies Across Global Supply Chains and Transportation Networks

[106] Adedokun, A.P., Adeoye, O., Eleluwor, E., Oke, M.O., Ibiyomi, C., Okenwa, O., Ubendu, O.N. and Obi, I., 2022, August. Production Restoration Following Long Term Community Crisis–A Case Study of Well X in ABC Field, Onshore Nigeria. In SPE Nigeria Annual International Conference and Exhibition (p. D031S016R001). SPE.

[107] Omisola, J.O., Etukudoh, E.A., Okenwa, O.K. and Tokunbo, G.I., 2020. Innovating Project Delivery and Piping Design for Sustainability in the Oil and Gas Industry: A Conceptual Framework. perception, 24, pp.28-35.

[108] Iwuanyanwu, O., Gil-Ozoudeh, I., Okwandu, A.C. and Ike, C.S., 2022. The integration of renewable energy systems in green buildings: Challenges and opportunities. Journal of Applied.

[109] Gil-Ozoudeh, I., Iwuanyanwu, O., Okwandu, A.C. and Ike, C.S., 2022. Life cycle assessment of green buildings: a comprehensive analysis of environmental impacts. Journal of Sustainable Architecture, 1(1), pp.729-747.

[110] Ilori, O., Lawal, C.I., Friday, S.C., Isibor, N.J. and Chukwuma-Eke, E.C., 2022. Cybersecurity Auditing in the Digital Age: A Review of Methodologies and Regulatory Implications. Journal of Frontiers in Multidisciplinary Research, 3(1), pp.174-187

[111] Oluoha, O.M., Odeshina, A., Reis, O., Okpeke, F., Attipoe, V. and Orieno, O.H., 2022. A Unified Framework for Risk-Based Access Control and Identity Management in Compliance-Critical Environments.

[112] Oyeyemi, B.B., 2022. Artificial Intelligence in Agricultural Supply Chains: Lessons from the US for Nigeria.

[113] John, A.O. and Oyeyemi, B.B., 2022. The Role of AI in Oil and Gas Supply Chain Optimization.

@article{1708974,
      author = {Sidney Eronmonsele Okiye, Tochi Chimaobi Ohakawa, Zamathula Sikhakhane Nwokediegwu},
      title = {Model for Early Risk Identification to Enhance Cost and Schedule Performance in Construction Projects},
      journal = {Iconic Research And Engineering Journals},
      year = {2022},
      volume = {5},
      number = {11},
      pages = {394-419},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1708974.pdf},
      abstract = {Early risk identification plays a pivotal role in enhancing cost and schedule performance in construction projects, ensuring timely completion and financial stability. Construction projects are inherently complex, involving multiple stakeholders, dynamic environmental conditions, and fluctuating resource availability. Traditional risk management approaches often focus on reactive mitigation strategies, addressing issues only after they arise. However, a proactive model for early risk identification can significantly improve project outcomes by anticipating potential disruptions and implementing preventive measures. This paper presents a structured framework for integrating early risk identification methodologies into construction project planning, emphasizing predictive analytics, real-time monitoring, and data-driven decision-making. By leveraging advanced risk assessment tools, such as artificial intelligence, machine learning algorithms, and historical project data, construction managers can detect vulnerabilities before they escalate into costly delays or budget overruns. The model incorporates key risk factors, including financial uncertainties, labor shortages, material procurement challenges, and regulatory compliance issues, ensuring a comprehensive approach to risk mitigation. Additionally, the study explores the role of stakeholder collaboration and transparent communication in fostering a risk-aware project environment. Through an analysis of case studies and industry benchmarks, this research highlights best practices for integrating early risk identification into construction workflows. The findings aim to provide a strategic roadmap for project managers, engineers, and policymakers seeking to optimize cost efficiency and schedule adherence in construction projects. By adopting a proactive risk management framework, the industry can enhance resilience, minimize disruptions, and achieve sustainable project success.},
      keywords = {Risk identification, cost performance, schedule optimization, construction management, predictive analytics, proactive risk mitigation, project resilience},
      month = {May},
  }