This is a small three months project that we win from Centre of Excellence-CPEC (CoE-CPEC), under the Competitive Policy Research Grant-2017 (Phase 1). This research comes under the sub-theme of Financing and Financial Sector Integration under CPEC of policy research on CPEC. The basic aim of the research is to build literature in the neglected dimension of risk assessment of CPEC.
Specifically this brief paper will indemnify the multidimensional financial risk, possible solutions/strategies to divert/adjust each dimension of risk, relative importance of risk classifications and to assess the barriers in the way of implementation of risk. To protect this billion dollar investment from risk, the risk assessment approach must reflect a true understanding of these issues and address a number of unique challenges.
Donors/Partners: Centre of Excellence (CoE) CPEC
Duration of Project: 3 Months
Increasing cost, poor performance and delays of time are often associated with construction project (Thompson, & Perry, 1992) rather than other industry having least exposure to risk (Carr, & Tah, 2001). An unsure event suppose happened, adversely affect the project objectives including but not limited to cost, time and quality (PMI, 2008). Decision making for better results (project outcome) regarding recognizing different dimensions of financial risk, different risk group along with barrier of implementation of risk management in construction projects are very fruitful. As opposed to financial industries where the risk can easily be recognized (Laryea, 2008; Taroun, 2014), but because of its complex and dynamic nature (Hwang, & Toh, 2014) various types of risk are associated with construction project and therefore difficult to identify. Although complete elimination of risks in construction projects is difficult to made possible, but identified risks can easily be managed effectively (Zou, & Wang, 2007; Smith, & Bohn, 1999).
- To identify the major dimensions of inquiry of Financial Risk Assessment associated with CPEC
- To identify Relative Importance of Risk Classification and its mitigation measures
- To identify barrier(s) in implementation of risk management/assessment
- Background write up is complete
- Online Survey has been developed comprises of
- Responded profile
- Relative Importance of Risk Classification and its mitigations measures
- Reasons of project delay and cost overrun and its mitigation measures
- Barrier(s) in implementation of risk management/assessment and the risk tolerance of the investors
Dr. Sajid Amin Javed and Wajid Ali