TRENDS AND FUTURE DIRECTIONS OF RISK MANAGEMENT APPROACHES APPLIED IN MODULAR CONSTRUCTION PROJECTS: SYSTEMATIC REVIEW AND META-ANALYSIS

Abstract

In modular construction, given the different undertakings compared to conventional construction, the latter deems less risky. However, the current industry is faced with malpractices which are loopholes disabling full capacity performance. There is a noticeable lack of studies specifically analyzing the risk management approaches. This study aims to vigorously analyze all risk management approaches applied in previous projects by compiling qualitative and quantitative content for the eased risk assessment of modular projects. By performing a systematic literature review and meta-analysis, 175 documents were finalized and manually analyzed. Synthesis of the literature was carried out to generate graphs, illustrations, and tabularized content, followed by critical explanation for relevant risk management approaches identified according to risk category and project criteria. Risk management approaches for modular construction were showcased in terms of yearly trends, geographic involvement, keywords mostly encountered, and universities and institutions involvement. Classified risk management approaches were tabularized alongside a research domain targeting technical risk management approaches. Future work scopes were suggested with percentage initiations from analyzed studies. This study is a fundamental steppingstone in broadening knowledge on risk management approaches of modular construction and will aid both academicians and practitioners to get direct insights on current trends with project-oriented results showcased.