Risk management of oil refinery construction project: an Indian case study Online publication date: Tue, 05-Oct-2021
by Ruchita Gupta; Biswadeepak Das; Karuna Jain
International Journal of Project Organisation and Management (IJPOM), Vol. 13, No. 3, 2021
Abstract: To meet domestic and international requirements, new oil refinery construction projects have been initiated in India. However, major projects are months behind the schedule. The purpose of this paper is to identify and rank risks and understand interrelationships among them in Indian oil refinery construction projects. A case study research design is adopted. Oil and gas organisation experts involved in refinery projects were interviewed to identify risks and to make their assessments on the probability and impact of risk occurrence. Using interpretive structural modelling, interrelationships among the highly ranked risks are revealed along with their driving and dependence power. The research contributes by identifying three risks having high driving, low dependence power and nine risks with high dependence, high driving power requiring maximum attention for project completion. These insights are important during initiation and planning phase of refinery construction projects to take appropriate measures for risk mitigation.
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