Develop Proactive System for Risk Management (DPSRM) for Lagging Investment Project in Iraq.
Main Article Content
Abstract
To finalize any construction investment project, it would be necessary to identify the most significant problems and obstacles that lead to project reluctance and stalling. Unexpected events and conflicts may have disrupted these strategies and impacted project development. Due to the high initial investment costs of construction projects, crises can have an immediate impact, resulting in significant financial losses. The 2014 financial crisis was one of the most prominent crises that Iraq faced, which prompted the researcher to identify and evaluate those obstacles through this research and questionnaires using Pareto scientific theory to exclude factors that do not contribute to project lag. It was discovered that 28 obstacles contribute to project lag before and during implementation. Solutions are obtained by soliciting expert opinions and using the Delphi technique to reach a consensus and a software system to create a proactive plan to reduce and overcome these challenges.
Article received: 02/01/2023
Article accepted: 16/03/2023
Article published: 01/07/2023
Article Details
How to Cite
Publication Dates
References
Abdul-Adheem, W.K. and Abdul-Lateef, M.G., 2020. Designing investment map and building geographical database for investment projects in Baghdad governorate. Al-Adab Journal, 134, p. 311-328. Doi:Aiccsa.2008.4493524/10.1109
Al-Ageeli, H.K. and Alzobaee, A.S.J.A., 2016. Critical success factors in construction projects (Governmental projects as a case study). Journal of Engineering, 22(3), pp. 129-147. Doi: 10.1007/s10640-013-9664-9
Al-Bayati, A.J., Hasan, R.A., and Alomari, K., 2021. Implementing a TQM framework for public services in Iraq: An exploratory study. Practice Periodical on Structural Design and Construction, 26(2), p.04020072. Doi: 10.1061/(ASCE)SC.1943-5576.0000565.
Burja, C., and Burja, V., 2009. The risk analysis for investments projects decision. Annales Universitatis Apulensis: Series Oeconomica, 11(1), p. 98.
Campello, M., and Matta, R., 2020. Investment risk, CDS insurance, and firm financing. European Economic Review, 125(June), 103424. Doi:10.1016/j.euroecorev.2020.103424
Erzaij, K.R., and Aljanabei, D.M., 2016. Performance Evaluation of the Investment Projects during the Implementation Phase (Najaf province as a case study). Journal of Engineering, 22(8), pp. 54-74.
Fadhil, G.A., and Burhan, A.M., 2022. Developing Crisis Management System for Construction Projects in Iraq. Journal of Engineering, 28(1), pp. 33-51. Doi:10.31026/j.eng.2022.01.03
Grzyl, B., Miszewska-Urbańska, E., and Siemaszko, A., 2017. Safety of investment process parties in the aspect of construction work contract. Journal of Science of the Gen Tadeusz Kosciuszko Military Academy of Land Forces, 186(4), pp. 208-215. Doi: 10.5604/01.3001.0010.7229
Islam, M.S., Nepal, M.P., Skitmore, M., and Kabir, G., 2019. A knowledge-based expert system to assess power plant project cost overrun risks. Expert Systems with Applications, 136, pp. 12-32. Doi: 10.1016/j.eswa.2019.06.030
Jassim, A.L.B.M., 2017. Legal Regulation of the National Investment Authority (Study in light of the provisions of the Iraqi Investment Law No. 13 of 2006 amended)
Mahdawi shubera, Muhyee Al deen., The role of evaluating investment projects in reducing the risks of granting loans. (in Arabic). Available in http://hdl.handle.net/123456789/4680
Morgunova, E.P., 2020. Investment project risk identification and evaluation. In Smart Technologies and Innovations in Design for Control of Technological Processes and Objects: Economy and Production: Proceeding of the International Science and Technology Conference" FarEastСon-2018" Volume 1 (pp. 186-201). Springer International Publishing.
Naji, H.I., Mahmood, M.S., and Mohammad, H.E., 2019, May. The Impact of Financial Problems Related to Investment Projects in Iraq. In IOP Conference Series: Materials Science and Engineering (Vol. 518, No. 2, P. 022084). IOP Publishing. Doi:10.1088/1757-899X/518/2/022084
Rebaudengo, M., and Prizzon, F., 2017. Assessing the investments sustainability after the new code on public contracts. In Computational Science and Its Applications–ICCSA 2017: 17th International Conference, Trieste, Italy, July 3-6, 2017, Proceedings, Part VI 17 (pp. 473-484). Springer International Publishing. Doi: 10.1007/978-3-319-62407-5_33
Tofan, A.S., and Breesam, H.K., 2018. Using the Fuzzy-AHP technique for determining the key performance indicators of public construction companies in Iraq. International Journal of Civil Engineering and Technology, 9(13), pp. 1431-1445.
Yassin, A.T., and Al-Asadi, A., 2019. Pattern of investment projects in the investment environment. Iraq Journal of market research and consumer protection, 11(1), pp. 160-169.