A system dynamics approach to risks description in megaprojects development

Abstract

the inherent risks and their interactive impacts in megaproject development have been found in numerous cases across the world. Although risk management standards have been recommended for the best practice, there is still a lack of systematic approaches to describing the interaction among social, technical, economic, environmental and political (STEEP) risks with regard to all complex and dynamic conditions of megaproject construction for better understanding and effective management of the management mechanism in terms of the nature risks, including their dynamic interactions and impacts in megaproject development.