Latent Structure of Risks in Transportation Projects in Vietnam

In transportation projects, effective risk management significantly impacts critical elements such as cost, scheduling, quality, and stakeholder relationship. Reality shows that transportation projects in Vietnam have encountered risks that affects project success, leading to the need for risk control measures, especially within construction phase. This study conducts a questionnaire survey to investigate the perception of stakeholders on risks in construction phase in transportation projects in Vietnam. Factor analysis was conducted based on a list of 25 risks compiled from relevant publications. This study employed exploratory factor analysis (EFA) to explore latent risk structures in transportation projects, identifying four main risk groups: “supervision risks”, “changes and stakeholder risks”, “environmental risks” and “construction risks”, each comprising various component risks. This empirical insight provides valuable guidance to practitioners and policymakers involved in project execution, enhancing their decision-making efficacy, thus, improving the projects efficiency.