Advances in Civil Engineering / 2018 / Article / Tab 3

Research Article

Identifying Political Risk Management Strategies in International Construction Projects

Table 3

Ranking of the political risk management strategies.

StrategyAcademiaIndustry valueOverall
MeanRankMeanRankMeanRank value

S01: making a higher tender offer3.99114.00110.9064.0011<0.001a
S02: conducting market research4.4534.2050.2824.293<0.001a
S03: buying risk insurance4.03104.0690.6974.0510<0.001a
S04: adopting optimal contracts4.1264.2330.2614.196<0.001a
S05: implementing a localization strategy4.4244.06100.1974.197<0.001a
S06: avoiding misconduct4.4524.1560.0894.264<0.001a
S07: adopting closed management of the construction site3.41223.85120.5373.6918<0.001a
S08: supporting environmental protection3.75143.82150.8313.8014<0.001a
S09: abiding by the traditional local culture3.90133.81160.8633.8413<0.001a
S10: making contingency plans4.1094.0980.6064.099<0.001a
S11: obtaining the corresponding guarantee3.98124.2240.4014.148<0.001a
S12: implementing an emergency plan3.18263.55230.2443.4224<0.001a
S13: forming joint ventures with local contractors3.58163.77180.1823.7017<0.001a
S14: conducting a postresponse assessment3.16273.41260.5373.3226<0.001a
S15: sending staff to training programs3.43203.62210.6283.5521<0.001a
S16: settling disputes through renegotiation3.28253.43250.6173.3825<0.001a
S17: choosing suitable projects4.5414.3220.4394.401<0.001a
S18: building proper relations with host governments4.1274.4210.2234.312<0.001a
S19: maintaining good relations with powerful groups3.52173.85130.5373.7315<0.001a
S20: creating links with local business3.43213.70190.3773.6020<0.001a
S21: changing the operation strategies3.36243.22270.2363.2727<0.001a
S22: controlling core and critical technology4.1083.80170.3013.9112<0.001a
S23: choosing a suitable entry mode4.3754.1470.4394.225<0.001a
S24: employing capable local partners3.66153.66200.7253.6619<0.001a
S25: building up reputation3.47193.47240.9123.4723<0.001a
S26: allocating extra funds3.39233.59220.2753.5222<0.001a
S27: maintaining good relations with the public3.49183.83140.1373.7116<0.001a

Note. aOne-sample t-test result is significant (test value = 3) at the significance level (two tailed).

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