Assessing risk dimensions in dry port projects : prioritization, interdependence and heterogeneity

Purpose: We identify and further aggregate the most commonly engaged risk factors in dry port projects into dimensions. Noting the importance of developing a multi-perspective view of risk, we further assess the priority, interdependency and heterogeneity of the identified risk dimensions. Design/methodology/approach: We identified 44 risk factors from the literature, which were aggregated via exploratory factor analysis (EFA) into 8 major risk dimensions. We employ a fuzzy-based decision-making trial and evaluation laboratory (DEMATEL) relationship map to articulate various relationships among the risk dimensions. Findings: “Cost” emerged as the most important risk influencing the success of the dry port project, followed by “location,” “accessibility,” “infrastructural” and “operational,” which were also ranked prominently. Originality/value: This study offers significant insights into the management of risk in dry port projects. By aggregating key risk factors into distinct dimensions, we develop a structured framework for effective risk assessment and management. The insights gleaned from the study extend globally as it serves as a concrete knowledge base to understand potential barriers to successful dry port projects.