Risk Interdependency Network Model for the Cost and Time of Pile Installation in Saudi Arabia, Using Partial Least Squares Structural Equation Modeling

Abstract

Pile construction projects cause significant time and expense overruns. The pile installation activity is the primary reason for project underperformance and uncertainties. Additionally, the risks associated with pile installation are mostly considered independent in the overall risk management process, leading to inadequate risk assessment and response. However, few studies have evaluated the risks associated with pile installation. Thus, this study aims to establish the risks of the time and cost of pile installation, using an interdependency network model with a particular emphasis on sand and rocky terrain conditions. In addition, this study introduces a new method for establishing a model that considers the interrelationships among risks via a partial least squares structural equation model (PLS-SEM). The research methodology involves assessing the probability and impact of 53 risk factors of pile installation time and cost. Twelve pile construction experts participated in this assessment. Then, a Monte Carlo Simulation was utilized before the data were integrated into the PLS-SEM. The research findings reveal that the site and economic risks indirectly affect the cost of installing pile in sand through construction risks. Also, the risk group comprising site and equipment risks indirectly affects the cost of installing pile in rock through design risks. This study’s findings will help construction organizations to improve time and cost risk assessments for pile installation projects.