Development of a Risk Breakdown Structure in Mega Projects based on Different Case Studies

Abstract

Rapid urbanization, globalization, and population growth have led to an increase in megaprojects in recent decades. Consequently, as construction projects move forward, a wider range of risks arise. By looking into and managing risk factors in advance of their occurrence, it is vital to reduce their negative effects. In construction projects, risk management is seen as a critical procedure that helps meet project objectives in relation to schedule, budget, quality, safety, and sustainability concerns. This study aims to examine and gain a deeper understanding of project-related risks in mega projects. This study also develops a risk breakdown structure in mega projects based on a literature review. This will help project participants manage these risks in their projects properly. Another objective of this study is to examine the methodologies used in data collection for determining and categorizing risks in mega projects. Finally, it is concluded that the risk factors in mega projects can be divided into two categories: internal and external risks whereas the main risk factors in mega projects are categorized as execution, construction, technical, economic and financial, environmental, social, political, and other.