Assessing risk dimensions in dry port projects: prioritization, interdependence and heterogeneity

Abstract

PurposeWe identify and further aggregate the most commonly engaged risk factors in dry port projects into dimensions. Noting the importance of developing a multi-perspective view of risk, we further assess the priority, interdependency and heterogeneity of the identified risk dimensions.Design/methodology/approachWe identified 44 risk factors from the literature, which were aggregated via exploratory factor analysis (EFA) into 8 major risk dimensions. We employ a fuzzy-based decision-making trial and evaluation laboratory (DEMATEL) relationship map to articulate various relationships among the risk dimensions.Findings“Cost” emerged as the most important risk influencing the success of the dry port project, followed by “location,” “accessibility,” “infrastructural” and “operational,” which were also ranked prominently.Originality/valueThis study offers significant insight into the management of risk in dry port projects. By aggregating key risk factors into distinct dimensions, we develop a structured framework for effective risk assessment and management. The insights gleaned from the study extend globally, as it serves as a concrete knowledge base to understand potential barriers to successful dry port projects.