Analysis of Risk in Construction Industry


EOI: 10.11242/viva-tech.01.04.190

Download Full Text here



Citation

Mr. Amar Chaurasia, Mr. Krishna Jadhav, Mr. Swaraj Kamble,Mr. Parag Hindlekar, "Analysis of Risk in Construction Industry", VIVA-IJRI Volume 1, Issue 4, Article 190, pp. 1-5, 2021. Published by Computer Engineering Department, VIVA Institute of Technology, Virar, India.

Abstract

Risk management can be directly related to the successful project completion as it is very much essential. Project management literature describes a detailed and widely accepted risk management process, which is constructed basically from four iterative phases: risk identification, risk estimation, risk response planning and execution, often managing the risk management process is included. Construction project planning is an essential element in the management and execution of construction projects which involves the definition of work tasks and their interactions as well as the assessment of required resource sand expected activity durations. The study, therefore, examined the awareness of professionals in construction industry of the various types of planning techniques and tools used on construction sites, Questionnaires were administered on selected building professionals (Project Managers, Engineers, Architects), and Contractors and Sub-contractors directly involved in construction work on sites in planning and the use of planning tools and techniques as major tools for successful project execution.

Keywords

Interaction, Interactive phases, Questionnaire, risk management.

References

  1. Dr. R. K. Kansal, Manoj Sharma. 2012. Risk Assessment Methods and Application in the Construction Projects International Journal of Modern Engineering Research (IJMER). 2(3): 1081-1085, ISSN: 2249- 6645.
  2. O. O. Odimabo, C. F. Oduoza. 2013. Risk Assessment Framework for Building Construction Projects’ in Developing Countries. International Journal of Construction Engineering and Management. p-ISSN: 2326-1080 ISSN: 2326-1102, 2(5): 143-154.
  3. Kinnaresh Patel. 2013. A study on risk assessment and its management in India. American Journal of Civil Engineering. 1(2): 64-67.
  4. Prakash Mutgi, Udayashankar D. Hakari. Project Management Practice and Risk Perception in Construction Companies. IOSR Journal of Mechanical and Civil Engineering (IOSR-JMCE) ISSN: 2278-1684, pp. 37-42.
  5. Dr. Mohammad Nayfeh. 2012. Risk management of the construction stage for the construction projects in Syria. Damascus University Journal. 28(1).
  6. A. Sotoodeh Gohar1, M. Khanzadi, Maryam Farmani. 2012. Identifying and Evaluating Risks of Construction Projects in Fuzzy Environment: A Case Study in Iranian Construction Industry. Indian Journal of Science and Technology. 5(11), ISSN: 0974-6846.
  7. Shuying Li. 2009. Risk Management for Overseas Development Projects. International Business research. 2(3).
  8. Cheng Siew Goh and Hamzah Abdul-Rahman1. 2013. The Identification and Management of Major Risks in the Malaysian Construction Industry. Journal of Construction in Developing Countries. 18(1): 19-32.