Risk Management Framework for Construction of Marine Projects in Egypt Using Python Method

Abstract

Construction projects are thought of as exceedingly complex projects with a great deal of uncertainty. Some serious risks and uncertainties frequently result in cost overruns and completion delays. Due to the huge scope of the marine business, marine construction is growing nowadays. The studies show that it is impossible to eliminate risk and uncertainty in the building industry, especially in marine projects. The primary goal of this paper is to locate and assess potential risks related to the development of marine construction in Egypt. This paper uses a structured questionnaire to achieve its objectives. Thirty factors of risk have been found, described, and classified into five main categories according to their sources. The statistical application SPSS and intelligent techniques such as Python are utilized to identify risk factors with high severity. The outcomes show that the top 10 risk factors are as follows: Change of management team and joint ventures, Changes in legislations, regulations, and code of practices, Poor monitoring from the owner, Poor inclement weather conditions, Fluctuations greater than estimated values, Late information or site instructions by technicians, Levelized cost of energy, Delay in the availability of shop drawings, High tides, and Equipment failure.
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