Jordan Journal of Civil Engineering

Paper Detail

Economic and Time Risk Factors Influencing the Construction Projects: A Case study of Lebanese Construction Projects

Volume 17, No. 3, 2023
Received: 2022/11/08, Accepted: 2023/03/10

Authors:

Omar Ahmad; Fatemeh Nouban;

Abstract:

Lebanon has been passing through a serious crisis in all sectors in recent years. These years were filled with challenges that pushed the Lebanese construction industry backwards. The Lebanese construction industry has become fraught with highly complicated risks that can impact the devastation of construction projects. Therefore, this study is primarily concerned with detecting the most crucial economic and time risk factors influencing Lebanese construction projects. To achieve the research aim, a questionnaire was designed first from different sources of literature and then adjusted according to the situations that Lebanon passed through during these years. In addition to that, some interviews to analyze the economic and time risk factors were conducted among expert respondents in the Lebanese construction industry. Then the relative important index (RII) was applied in order to classify the major risk factors. The findings obtained from the study reveal that currency fluctuation, risk of war, geological risks, risk of pandemic and vendor failures are the most crucial risk factors that influence the time and cost of Lebanese construction projects. Finally, risk management must be implemented in Lebanese construction projects to avoid or reduce the occurrence of these risks.

Keywords:

Risk factors, construction projects, cost, time