Research on Risk Management in International Engineering Project Contracting with Third World Countries in Africa
1 School of Water Conservancy and Civil Engineering, Zhengzhou University, Henan Province, China.
2 Lovely Professional University, Jalandhar - Delhi G.T. Road, Phagwara, Punjab, 144411, India.
Research Article
World Journal of Advanced Engineering Technology and Sciences, 2024, 11(02), 529–543
Article DOI: 10.30574/wjaets.2024.11.2.0125
Publication history:
Received on 01 March 2024; revised on 17 April 2024; accepted on 20 April 2024
Abstract:
Risk management of international engineering project contracting with third world countries in Africa is a critical aspect that requires thorough investigation due to the unique challenges and complexities involved. The study delves into the various risk factors prevalent in international engineering projects with third world countries in Africa; different risk management strategy options and how they can be tailored to suit the specific context of international engineering projects with third world countries in Africa to enhance project success rates. The research will also investigate the application of the Analytic Hierarchy Process (AHP) method in prioritizing and selecting risk management strategies based on their importance and effectiveness in complex engineering projects.
Keywords:
Risk Management; International Engineering Project Contracting; Third World Countries in Africa; Risk Factors; Analytic Hierarchy Process (AHP)
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