Modeling Profitability-Influencing Risk Factors for Construction Projects: A System Dynamics Approach

This study addressed the complexity involved in integrating causative risk factors influencing construction profitability. Most of existing studies cover individual effects profitability factors. Very few focus on systematic impact without incorporating and associated dynamics, presenting a gap targeted by current study. The aimed to assess interrelations interdependencies between (PIRF), through systems thinking (ST) system dynamics (SD) modeling. SD approach was used evaluate integrated impacts profitability-influencing categories (PIRC) projects. affecting were identified comprehensive literature review. These ranked using content analysis, categorized into significant issues. Through 250 structured surveys 15 expert opinion meetings, path for quantitative qualitative evaluations prepared. Following these investigations, causal loop diagram (CLD) established ST technique, effect quantified finds rising cost material, supply chain process, payment issues, planning scheduling problems, financial difficulties, effective control manpower equipment resources as most critical PIRFs. PIRFs PIRC helps field professionals with factors, diagnosing regarding decision-making policy formulation. For researchers, it presents list that can be investigated detail, holistic interrelationships established.