Discussion of Data Analysis and Results
Theoretical findings of the literature review point to reliance on historical data and the use of expert knowledge in the identification and assessment of risks in infrastructure projects. The findings of the most frequently used risk identification methods overlap with the concept of knowledge-based risk repositories as a means of improving the quality of risk identification stage of the risk management process. Additionally, the prioritised risk classification table was developed based on the sources of risks occurring in construction and infrastructure projects highlighted in academic literature. These findings gathered during the review of the academic literature were assessed as part of the preparation for the semi-structured interviews and were used as a foundation for structuring the questions to address industry experts in order to explore the research questions.
Upon collection of interview data, the comparative analysis of the results of the literature review and the semi-structured interviews will be conducted along the lines of risk identification methods, most frequently occurring risks by category, nature of the use of risk registers, and knowledge-based risk repositories in the infrastructure projects. A comparative analysis will be conducted in order to establish potential areas for improvement in the indicated aspects of the risk management process.
Discussion of the project data and comparative analysis will include contextualisation of the findings within the context of risk management of infrastructure projects, description of how the findings could impact some of the current risk identification practices used in New Zealand's infrastructure sector, articulation of project's contribution to the existent body of knowledge on risk identification and risk management, acknowledgment of any constraints to the research project, interpretation of key findings and "lessons learned," and identification of areas for potential further investigations.
Potential Application and Benefits
The potential application of the research project results may be directed towards developing knowledge-based risk management repositories to enhance the risk identification stage of risk management processes in infrastructure projects. The enhanced methods of risk identification may improve the identification of risks using available historical data, increase the quality description and classification of risks in risk registers, and improve the accuracy of risk prioritisation by leveraging data from previous projects.
The potential benefits addressed in the project correspond to strategic objectives announced in the Infrastructure Action Plan that focuses on improving risk management strategies to enhance the success of infrastructure projects, and are outlined the Benefits management plan, which can be accessed upon your request. Benefits register developed as part of the research project addresses the benefits that can be potentially realised within 12 months period after finalisation of the project and are presented in the table below.
Some of the primary potential benefits of the research project, assuming the research questions will be successfully answered, include:
1. Improved risk identification processes with more comprehensive use of risk registers to enhance industry knowledge
2. Improved efficiency of risk management processes with more streamlined and effective project planning, design, and delivery procedures
3. Long-term strategic benefits in the form of more efficient allocation of resources in planning, design, and delivery of infrastructure projects
4. Contribution to development of knowledge-based risk repositories used as part of risk management processes
