Philosophy •Pragmatism Paradigm•Interviews and Surveys •Monte Carlo Analysis Risk Management in Construction of Megahousing Projects in Egypt

Abstract

Recent years have seen an increase in the number of Mega housing Projects around the world. This increase was to cater for increased population and urbanization. Construction of mega housing projects in Egypt faced a lot of challenges during the construction phase. There is no targeted framework that allows contractors to improve their risk management practice and project success during the construction of mega housing projects in Egypt. The aim of the paper is to design a conceptual Risk Management Framework for Mega Housing Projects in Egypt to improve risk practices and project success during the construction phase. The objective of the paper is to design a conceptual risk management framework to guide contractors to an efficient risk management practice during construction of mega housing projects in Egypt. The study is to review risk standards, to recognize developed risk frameworks, and to design a conceptual risk management framework (CRMF). The framework guide contractors' in Egypt towards successful risk management practice. The CRMF included steps of risk identification, assessment, response, and risk control. Risk identification adopted risk principles from the International Standardization (ISO31000, 2018). Principles of risk management included knowledge, risk skills, challenges, and opportunities. Interviews and NVivo analysis are used as a technique of risk identification. Qualitative risk analysis included risks obtained from the identification process as input. Technique of questionnaire can guide contractors to prioritize risks based on their significance.

Full text

Philosophy •Pragmatism Paradigm
Approach •Abductive Approach
Strategy •Multi Methodological
Strategy
Methods •Interviews and Surveys
•Monte Carlo Analysis
Risk Management in Construction of Megahousing
Projects in Egypt
Mohamed Ibrahim1,2, George Ofori1, Maged Morcos2
1School of Built Environment and Architecture, London South Bank University, 103 Borough Road,
London SE1 0AA, United Kingdom
2Department of Civil Engineering, The British University in Egypt, El-Sherouk City, Cairo, Egypt
Motivation
Slum Urbanisation Crisis
Constructed with 95%
delays, high cost, and
poor quality buildings.
Slum vs. Mega Housing
Recently, Egypt strategy
2030 is targeting successful
delivery of mega housing.
Risk management framework
is an ideal solution to reduce
the impact on delivery of
mega housing projects
Risk Management
Framework is developed
using the Risk Management
Standard ISO 31000
Methodology
Conclusions
Researcher Contacts
M.ASCE –Member of the American
Society of Civil Engineers, USA.
MAPM –Member of the Association of
Project Management, UK.
Results
Aim
•Low risk knowledge was observed, 45% of
project team do not participate in the
process of risk management.
•Monte Carlo highlighted that
$273,000 are to be added to the
construction budget.
•Risk categories included
financial risks, safety risks, and
government support risks.
•The Risk framework is in line with the
International Standardaisation (ISO31000).
•The cost of a Mega housing project in Egypt “New Capital”
ranged between $125,687,351 and $126,183,808. After
implementing mitigations the cost ranged between
$125,687,351 and 125,917,868 this means that the maximum
completion cost is reduced by an amount of $265,940. This
reduction is due to the implemented responsive actions.
•Qualitative risks are identified
using interviews. Survey results
allowed the recognition of
impact scales. Monte Carlo
analysed the impact of risks on
delivery time and cost.
•To develop a risk management
framework to improve risk
management practices and
success in delivery during
construction of Mega housing
projects in Egypt.
Researcher Mail: Ibrahm63@lsbu.ac.uk
•For better future in
delivery of mega
housing projects. •For better EGYPT
Respondents
Low Medium High
Risk Knowledge
•Risk Management Framework
Step 1
identify Risks
Step 2
Analyse
Step 5
Report Step 4
Monitor
Step 3
Respond