Assessing of the performance of construction companies in Iraq in terms of managing risk factors

Construction companies in Iraq operate in an environment of risks and uncertainty, which complicates the conduct of the process construction. Therefore, companies are forced to search for the most effective ways to solve this problem. Risk management is one of the tools to ensure the efficient functioning of the construction industry companies. Unstable economic and political situation has led to the emergence of several destabilizing factors that provoke the emergence of many risks. Thus, there is an urgent need for construction companies in Iraq to find solutions that reduce or limit the impact of these factors. The purpose of the study is to evaluate the performance of construction companies involved in the construction buildings in Iraq. To assess the significance factor (relative proximity coefficient) of construction companies according to the criteria for making compensatory decisions to reduce or limit the impact of risk factors, the TOPSIS decision method (measuring similarity with an optimal decision) was used. The results showed that economic decisions had the highest relative importance (33.2%), followed by political and military decisions (26.5%), then technical and organizational decisions (21.6%), and labor protection decisions (18.7%). The study also showed that the Alamko Company, which is engaged in the implementation of the construction project for the Iraq Gate residential complex in the center of Baghdad, took the closest place to the optimal solution in the ranking of the analyzed companies with coefficient of 0.87. This indicates that the company has developed an effective program for managing risk factors.