Strategic Factor Analysis for Payra Seaport Construction: A Case Study Bangladesh Perspective

Megaprojects are becoming more widespread across the world. An infrastructure project is a massive, expensive, and complicated project that often takes many years to complete in addition most of the mega projects are facing schedule delay and also cost overrun to completion projects. Payra Sea Port is Bangladesh's third seaport, created with the intention of boosting the country's international maritime trade. It is important to note that a country's international marine trade and commerce rely heavily on the locational advantage and operational capacity of its seaports. In addition, the capabilities and capacity of a port are contingent on the port's strategic development. For the development of Payra Sea Port, a strategic analysis has been undertaken in this study. This work utilizes both primary and secondary data obtained from various publications, journals, articles, books, newspapers, and the annual report of a linked organization in order to conduct qualitative research. A non-probability sampling approach was used to select respondents for open discussion format interviews. Various strategic methods, including PEST analysis, SWOT analysis, etc., were used to analyze collected data in order to identify obstacles and devise strategies for the growth of Payra Sea Port. It has been determined that drought restrictions, capital and maintenance dredging, political instability, hinterland connectivity, huge capital investments, private engagement, and industrial diversification are the most significant obstacles to the development of Payra Sea Port. It also has the potential to become a deep-sea port through careful planning. Possessing significant internal advantages, such as a large channel, river connectivity, 11-kilometer-long bank jetty, and land availability in the Payra Sea Port region, could be a possible advantage over foreign threats. In this paper, distinct management entity has been recommended to reduce the political influences and to create an internal competitive environment that could help to the development of Payra Sea Port. This report also identifies four fundamental strategic determinants at the operational, functional, management, and corporate levels. To obtain competitive advantages, it is necessary to expand private participation so that the port may be developed strategically using the landlord model.