The contracted project is the basic form of Sino-Libyan economic cooperation. The authors hope that Chinese constructors will learn from this case study. This article assesses the political risk for Chinese contracted projects at three levels and studies their countermeasures to this emergency and the effects of political risks on Chinese constructors in Libya. The research finds that Chinese constructors are not good at political risk management due to their traditional attitudes toward risk and the attitudes of the Chinese government toward overseas losses of Chinese state-owned enterprises (SOEs). However, Chinese SOEs are more experienced than private-owned enterprises in dealing with emergencies.
Al KhattabA., AnchorJ. R., & DaviesE. (2007). Managerial perceptions of political risk in international projects. International Journal of Project Management, 25(7), 734–743.
2.
AldenC. (2005). China in Africa. Survival, 47(3), 147–164.
3.
Association for Project Management. (2000). APM body of knowledge (4th ed.). High Wycombe, England: Author.
China Communications Construction Company. (2011, February 28). “Motherland, we're back safely!”—Employees of CCCC First Harbor Engineering Co. Ltd. in Libya all returned China safely. Retrieved from http://www.ccccltd.cn/jtjs/ContentDir/49/38592.aspx?__r=8161
9.
China Gezhouba Group Corporation. (2011, March 3). Corporate announcement for the operation in Libya. No. Temporary 2011-002. Shanghai Stock Exchange.
10.
China National Building Materials & Equipment Import and Export Corporation. (2011, February 25). Group corporation held emergent meeting for Libyan emergency. Retrieved from http://www.cnbm.com.cn/wwwroot/c_000000020002/d_15233.html
China Railway Construction. (2011, March 2). Corporate announcement for the operation in Libya. No. Temporary 2011-004. Shanghai Stock Exchange.
13.
China State Construction Engineering Corporation. (2011, February 28). Corporate announcement for the operation in Libya. No. Temporary 2011-08. Shanghai Stock Exchange.
14.
CrawfordL., PollackJ., & EnglandD. (2006). Uncovering the trends in project management: Journal emphases over the last 10 years. International Journal of Project Management, 24(2), 175–184.
15.
Economist Intelligence Unit. (2007). World investment prospects to 2011: Foreign direct investment and the challenge of political risk. Retrieved from http://graphics.eiu.com/upload/WIP_2007_WEB.pdf
FordR. C., & RandolphW. A. (1992). Cross-functional structures: A review and integration of matrix organization and project management. Journal of Management, 18(2), 267–294.
19.
HarmsP. (2002). Political risk and equity investment in developing countries. Applied Economics Letters, 9(6), 377–380.
20.
HastakM., & ShakedA. (2000). ICRAM-1: Model for international construction risk assessment. Journal of Management in Engineering, 16(1), 59–69.
21.
HowellL. (2001). The handbook of country and political risk analysis (3rd ed.). East Syracuse, NY: The Political Risk Services Group.
International Monetary Fund. (2010, October 28). The socialist people's Libyan Arab Jamahiriya: 2010 Article IV consultation, preliminary conclusions of the mission. Retrieved from http://www.imf.org/external/np/ms/2010/102810.htm
24.
International Monetary Fund. (2011a, February 15). IMF executive board concludes 2010 Article IV consultation with the socialist people's Libyan Arab Jamahiriya, Public Information Notice (PIN) No. 11/23. Retrieved from http://www.imf.org/external/np/sec/pn/2011/pn1123.htm
MorrisP., JamiesonA., & ShepherdM. M. (2006). Research updating the APM body of knowledge (4th ed.). International Journal of Project Management, 24(6), 461–473.
31.
MuriithiN., & CrawfordL. (2003). Approaches to project management in Africa: Implications for international development projects. International Journal of Project Management, 21(5), 309–319.
OzorhonD., ArditiD., DikmenI., & BirgonulM. T. (2007). Effect of host country and project conditions in international construction joint ventures. International Journal of Project Management, 25(8), 799–806.
34.
Project Management Institute. (2008). A guide to the project management body of knowledge (PMBOK® guide) (4th ed.). Newtown Square, PA: Project Management Institute.
United Nations Development Programme. (2007). Asian foreign direct investment in Africa: Towards a new era of cooperation among developing countries.New York, NY: United Nations.
37.
WeiJ. L., & ChenL. G. (2009). The impact of political risk on China's ODI: An empirical research based on a dynamic panel data model. Economic Review, 4, 106–113.
38.
World Bank. (2006, July). Socialist People's Libyan Arab Jamahiriya: Country economic report (Report No. 30295-LY). Washington, DC: Author.
39.
ZwikaelO., & AhnM. (2011). The effectiveness of risk management: An analysis of project risk planning across industries and countries. Risk Analysis, 31(1), 25–37.
