IMPACT OF PROJECT DELIVERY METHODS ON LIFECYCLE RISK MANAGEMENT OF OFFSHORE PROJECTS | ||
| Port-Said Engineering Research Journal | ||
| Volume 28, Issue 4, December 2024, Pages 15-24 PDF (615.08 K) | ||
| Document Type: Original Article | ||
| DOI: 10.21608/pserj.2024.302206.1351 | ||
| Authors | ||
| Ibrahim Mahdi1; Ahmed M. Ebid M. Ebid2; Hassan Ghatass3; Ehab Tolba4; Lamisse Raed Hussein* 5 | ||
| 1Professor of Project management, Structural Engineering and Construction Management Department , Faculty of Engineering and Technology, Future University in Egypt | ||
| 2Associate Professor, Structural Engineering and Construction Management Department, Faculty of Engineering and Technology, Future University in Egypt | ||
| 3Professor of Concrete Structures, Civil Engineering Department, Faculty of Engineering, Port Said University, Port Said, Egypt | ||
| 4Professor of Ports and Coastal Engineering, Civil Engineering Department, Faculty of Engineering, Port Said University port-fouad | ||
| 5Civil engineering Department, Faculty of engineering ,port said university ,Port said,Egypt | ||
| Abstract | ||
| Offshore projects are complex and require proactive risk management to achieve the desired outcomes. Offshore projects are exposed to many risks due to the large investments, strict regulations, and complex natural challenges. This study highlights the importance of risk management in offshore project execution, focusing on the risks associated with different project delivery methods(PDMs) such as Design Bid Build (DBB), Design-Build (DB), Construction Management at Risk (CMAR), Public-Private Partnership (PPP), Build-Operate-Transfer (BOT), Engineering, procurement and Construction(EPC) and Integrated Project Delivery (IPD) at various stages of an offshore project's lifecycle. This research aims to assess and recognize the risks related to offshore projects to improve understanding and optimize performance outcomes. Risk identification was carried out through an extensive literature review followed by a risk assessment involving expert interviews to evaluate the probability and impact of each risk. It is found that management risks account for an average of 52% of all identified risks, While technical risks account for an average of 24% of the identified risks. Historical data on real-world projects delivered using EPC are utilized to validate these risks’ impact on the risk management process by assessing pre-mitigation and post-mitigation risk plans. It is noted that implementing a risk response strategy led to a 27% reduction in the estimated budget and a 14% decrease in the estimated duration. | ||
| Keywords | ||
| Offshore; Projects Delivery Methods; Risk Management; Project’s Life cycle | ||
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