Identifying and assessing critical risk factors in underground rail projects with factor anaylsis

In the recent years realization of infrastructure projects in Turkey becomes a must in order to enhance socio-economic conditions. The projects of which budgets exceeds one million dollars are named as mega projects. The projects fall under this scope are railway, highways, bridges, tunnels, energy and facility construction projects. 3. Airport, Avrasya Tunnel, 3. Bosphorus Bridge and several metro projects are among the completed mega infrastructure projects. One of these projects Marmaray Project is projected to have an uninterrupted transportation system and railway connection between Asia and Europe. Iin 1999 financing contract has been signed for project. In 2004 construction of Bosphorus tube crossing has started. In 2008 contracts for rolling stock purchasing and Haydarpaşa-Gebze, Sirkeci-Halkalı commuter rail upgrading have been signed. On 29 October 2013 bosphorus tube crossing construction has been completed and passenger transport has started with five car train sets. On 11 March 2019 upgrading work of the old commuter line has been completed and direct transportation between Gebze-Halkalı has started. The projects requiring long periods and including international contracts, creditors and contractors turned project management an important concept which draws attention of academic researchers and practitioners and provides a basis for being a highly studied concept. The aim of this master's thesis is to explore the several components of risk factors which may be faced in the projects and identify these components by using factor analysis method. Project risk management in literature has been studied less than other aspects of the Project management. By providing more studies to literature regarding this concept which is being faced throughout the projects, it has been aimed to make this concept more applicable. In the first section of the study information regarding project risk management process, risk identification process and risk analysis methods and how risk responses need to be planned are tried to be explained. In the second section risk management in infrastructure project, with which studies the risk factors are determined and those factors are explained. In the third section the history of Marmaray Project, phases of the Project, employer and contractors, its construction and rail cars provision are given. In the continuation of this section: the methodology of the study and the findings and results received at the end of the study are explained. Keywords: Marmaray Project, Contractor, Risk Factor, International Contracts, Creditor, Factor Analysis