This document discusses qualitative risk analysis for construction projects. It begins by providing background on risk management in construction and the significance of risk analysis. The objectives of the study are identified as identifying risks in construction projects and categorizing them based on probability, impact, urgency and priority to determine high risks. A literature review is presented on past research identifying construction risks.
The methodology involves distributing questionnaires to collect data on types of risks from various stakeholders. Qualitative risk analysis is then used to analyze the data through probability-impact, impact-urgency, probability-urgency and priority-urgency matrices. High, medium and low risks are identified based on the matrices. The results of the questionnaire survey are presented and it is found that
EFFECTIVE RISK MANAGEMENT IN CONSTRUCTION PROJECTSvivatechijri
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
International Journal of Engineering Research and DevelopmentIJERD Editor
Electrical, Electronics and Computer Engineering,
Information Engineering and Technology,
Mechanical, Industrial and Manufacturing Engineering,
Automation and Mechatronics Engineering,
Material and Chemical Engineering,
Civil and Architecture Engineering,
Biotechnology and Bio Engineering,
Environmental Engineering,
Petroleum and Mining Engineering,
Marine and Agriculture engineering,
Aerospace Engineering.
EFFECTIVE RISK MANAGEMENT IN CONSTRUCTION PROJECTSvivatechijri
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
International Journal of Engineering Research and DevelopmentIJERD Editor
Electrical, Electronics and Computer Engineering,
Information Engineering and Technology,
Mechanical, Industrial and Manufacturing Engineering,
Automation and Mechatronics Engineering,
Material and Chemical Engineering,
Civil and Architecture Engineering,
Biotechnology and Bio Engineering,
Environmental Engineering,
Petroleum and Mining Engineering,
Marine and Agriculture engineering,
Aerospace Engineering.
EFFECTIVE RISK MANAGEMENT IN CONSTRUCTION PROJECTSvivatechijri
Risk management is a step to make construction projects more efficient and practical such that
uncertainties should be identified before occurring and changing into crisis and a balance should be made
between threats and opportunities. Accordingly, construction industry is one of the most important and job
creating industries in all countries. Compared to other economic-industrial sectors, construction management is
highly influenced by the perception and employment of risk management concept. Additionally, there are
abundant risks in such activities since Construction projects activities are very complex and various. Hence, it
seems necessary to evaluate the proper use of risk management in various stages of Construction projects life
cycle. In this regard, the present study attempts to describe Construction projects life cycle step by step and
analyse the way of using risk management from designing stage to reviewing and supporting stage. The risk
management framework for construction projects can be improved by combining qualitative and quantitative
methodologies to risk analysis. The research work includes visiting and inspecting various construction sites,
analysing the field, collection of data, interpretation of data; using matrix method of risk calculation calculating
risk and providing effective measures to overcome it.
A study of various factors affecting risk management techniques in constructi...eSAT Journals
Abstract
Risk management is an important step which should not be neglect or ignore in every project. Because of various risk involved in construction, it is difficult to maintain time, cost and quality as planned. Project undertaken in the construction sector are widely complex and have often significant budgets, and thus reducing the risk associated should be a priority for each project manager. The main purpose of this paper is to identify the key risk factors that affect construction project. Questionnaires has been prepared incorporating of 50 difference questions after which questionnaire survey was conducted where the questions has been focused based on (component of questionnaire) the respondents were selected based on their susceptibility to the risk. The data was analyzed using the Statistical package for social sciences (SPSS) version 21. The result shows that the inadequate planning in construction project, poor adoption of site safety, supply and use of defective materials and poor resources management in construction project are all among the forefront key risk factors which affect construction project, meanwhile, effective recommendations have been developed to increases the efficiency, speedy and minimises risk and abortive work in construction project.
Keywords: Construction Industries, Construction Projects, Risks Management, Techniques
International Journal of Engineering and Science Invention (IJESI)inventionjournals
International Journal of Engineering and Science Invention (IJESI) is an international journal intended for professionals and researchers in all fields of computer science and electronics. IJESI publishes research articles and reviews within the whole field Engineering Science and Technology, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Recently, Construction IQ conducted an online survey on construction project risk management. Some valuable statistics emerged from the results. Have a look at what your colleagues and peers in the industry had to say…
Risk Management in High Rise Construction Projects: A ReviewA Makwana
This paper gives information about identification of risk factors and perceptions of Indian construction practitioners i.e., contractors, owners, project managers and Engineers on the importance of different construction risks and how the risks should be assigned between the different parties of the contract. As the very common project styles, construction projects have so many characteristics likewise time limitation, specific items, financial restrictions and requirements, extraordinary structural and legal situations, complexity features. For this situation every construction project has own complex method. Risks constantly happen at construction projects and frequently cause time overrun or cost overrun. If you don’t contemplate these risk factors, or neglect the main factors, these risk factors will affect the damage because of the managerial errors. Risk management is the process which covers to identify the risks, for assessment with the help of qualitatively and quantitatively, to response with appropriate technique for management and controlling. The concept has gain popularity in various industries. Various companies frequently found the method in their projects for upgrading their performance, reducing their losses and increasing their profits. Questionnaire survey among clients, contractors, engineers and architects is analyzed using, Relative Importance Index (RII) and Importance Index (IMP.I) methods. The focus of this study is to understand what Risk Management is, understand the process of risk management at construction project and have depth knowledge on the use of risk management in high-rise construction projects.
ANALYSIS OF RISK CATEGORIES AND FACTORS FOR PPP PROJECTS USING ANALYTIC HIERA...A Makwana
Success of Public Private Partnership projects is greatly influenced by proper management of the risks associated with the project. All projects which are undertaken using conventional procurement method or using a PPP approach have known risks and unknown risks. Risk identification plays an important role in development of PPP framework. The participation and investment of Private sector has been the main stay of the Government of India policy toward infrastructural growth. In this study main risk categories and factors of Public Private Partnership projects have been recognized. A total of 7 risk categories and 31 risk sub-factors for each category were identified for PPP projects safety listed under subheads. The questionnaire was prepared on the basis of literature review and was filled by 100 Stakeholders namely Consultant/Client, Project Manager/ Contractor, Engineer. Generally Analytic Hierarchy Process (AHP) is widely used as multi criteria decision making. Normally it is very hard to meet the consistence need of a comparison matrix in analytic hierarchy process. In this study AHP is used to categories the risks of PPP projects in different levels and the impact of those risks on the PPP projects are identified.
RISK MANAGEMENT IN CONSTRUCTION PROJECTS AS PER INDIAN SCENARIOIAEME Publication
Construction industry is highly risk prone, with complex and dynamic project
environments creating an atmosphere of high uncertainty and risk. The industry is
vulnerable to various technical, sociopolitical and business risks. The track record
to cope with these risks has not been very good in construction industry. As a
result, the people working in the industry bear various failures, such as, failure of
abiding by quality and operational requirements, cost overruns and uncertain delays
in project completion. In light of this, it can be said that an effective systems of risk
assessment and management for construction industry remains a challenging task
for the industry practitioners. The aim of the this research is to identify and evaluate
current risks and uncertainties in the construction industry through extensive
literature survey and aims to make a basis for future studies for development of a
risk management framework to be adopted by prospective investors, developers and
contractors
Claims Management And Assessment Through Documentationvivatechijri
Construction claims have such high impacts on the projects’ cost and time that the contractors should
establish the effective claim management in their organizations. This research aimed at presenting the key concepts of
construction claims, and construction claim management, focusing on the contractors’ point of view. In addition, a
questionnaire survey was done to assess the efficiency of the contractors in managing their claims. Three-hundred
claim management staffs from contractors’ organizations were then selected by using stratified sampling technique,
taking into account their company locations. It was found that the active tasks that the contractors can perform
efficiently consist of recognition and identification of the change, systematic and accurate documentation of the
change, analysis of time and cost impacts of the change. As to the defensive tasks, they are systematic and accurate
documentation of change, and analysis of time and cost impacts of the change. On the other hand, the activities that the
contractor can not perform well and should be improved are active notification of the change, active negotiation of the
claim, and defensive recognition and identification of the change. The result from this research can help the
contractors improve their weaknesses and maintain their strengths of their claim management process.
The Rank of Risk Factors Affecting Time Delay and Cost Overrun of Building Co...ijtsrd
In Yangon City, Myanmar, most of the building construction projects fail to meet their cost and time constraints, which will lead to low return on investment. The purpose of this paper is to understand risk management of building construction and the study area is Yangon. This study illustrates that how to manage risks in building construction to become a successful project with best possible outcome by reducing risks that delay the project. The study was conducted through a questionnaire survey administered to 39 construction projects and 148 professionals in Yangon for finding risk rating and prioritization of risk. Risk prioritization was done by Technique for Order of Preference by Similarity to Ideal Solution TOPSIS . Khin Su Yi | Kyaw Kyaw "The Rank of Risk Factors Affecting Time Delay and Cost Overrun of Building Constructions Projects in Yangon" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-4 , June 2020, URL: https://www.ijtsrd.com/papers/ijtsrd31557.pdf Paper Url :https://www.ijtsrd.com/management/risk-management/31557/the-rank-of-risk-factors-affecting-time-delay-and-cost-overrun-of-building-constructions-projects-in-yangon/khin-su-yi
EFFECTS OF RISK MANAGEMENT METHODS ON PROJECT PERFORMANCE IN RWANDAN CONSTRUC...Sibo Kanyambari Aimable
Risks are very common in construction sector. Risk is the Possibility of suffering loss and the impact on the involved parties. According to APM (2006), all projects are inherently risky because they are unique, constrained, complex, based on assumptions, and performed by people. As a result, project risk management methods must be built into the management of projects and should be used throughout the project lifecycle.
Many construction projects fail because organizations assume that all the projects would succeed and they therefore do not identify, analyze, and provide mitigation or contingencies for the risk elements involved in the project.
Society desires that all projects should be performing and has become less tolerant of failure (Edwards and Bowen, 2005). Pressure is exerted on project managers to minimize the chance of project failure. This increasing pressure for performance which suggests that it is prudent for anyone involved in a project to be concerned about the associated risks and how they can be effectively managed.
Traditionally, performance of a project is analyzed on the criteria of quality, budget and time of completion. Two more criteria to determine the performance of a project were added by Kerzner (2001). Firstly, the project would effectively and efficiently manage risks and, secondly, it should be accepted by the customer.
It is known that the cause of the projects failure can be directly related to the extent of risk management methods undertaken. Besides, the level of risk management methods undertaken during project lifecycle impacts directly on the performance or otherwise of the project. Furthermore, using risk management methods effectively to manage risk should be continuously undertaken throughout the project lifecycle to enhance project performance. Risk management methods are thus an important tool to cope with such substantial risks in projects performance.
The main objective of the enquiry work that underpins this research is to investigate the effect of risk management methods on project performance. In this paper, a case study of RSSB multi-storey already executed project is considered.
The International Journal of Engineering & Science is aimed at providing a platform for researchers, engineers, scientists, or educators to publish their original research results, to exchange new ideas, to disseminate information in innovative designs, engineering experiences and technological skills. It is also the Journal's objective to promote engineering and technology education. All papers submitted to the Journal will be blind peer-reviewed. Only original articles will be published.
In the present day corporate environment, where there is cut-throat competition, the need for efficient time management and timely completion of projects is essential for organizations to stay competitive. Even due to the growing need for time management in construction projects, many are failing to be finished on time. This can be detrimental for any hiring company since infrastructure development project delays can lead to increase in costs and process halt for organizations. These are real life scenarios which are bound to take place in the professional life of any and every project manager. A project manager will only be considered efficient and competent when he or she knows how to manage the allotted time, and to carry out operations and activities in a manner that further reduces this time period. In order to prepare project managers for such circumstances, it is crucial for them to understand Extension of Time and delay analysis.
Course link: https://planningengineer.net/courses/claims-management-and-delays-analysis-online-workshop/
Evaluation of Risk Factors Affecting Cost Performance of Construction Project...IJCMESJOURNAL
Effective management of risk is critical to the success of any construction project. The importance of risk management has grown as projects have become more complex. Contractors have traditionally used financial mark-ups to cover the risk associated with construction projects, but as competition increases and the margins become tighter, they can no longer rely on this strategy and must improve their ability to manage risk. This study has carried out an empirical evaluation of the effect of risk factors on cost performance of projects at delivery. The study is based on the analysis of primary data derived from bills of quantities for the construction/erection of hospital projects by the Ministry of Works and Housing, Jalingo in Taraba State. The obtained data was analyzed using linear regression, t-statistics, F-statistics, line and scatter graphs. The study identified the following risk variables as having significant impact on cost performance: project size, project location, project complexity, level of variations, prime cost sums and provisional sums, estimator bias, market conditions, level of competition, fraudulent practices, construction techniques, economic and political factors, construction accidents, health and safety factors. The study concludes that these factors have to be comprehensively assessed in the light of the individual projects. It recommends among others, the need for a departure from the use of traditional approach of percentage risk adjustment factor to a more comprehensive risk management system.
Risk Driven Approach to Test Device Softwareijtsrd
Software testing is one of the most crucial testings in the software development process. Software testing should be scheduled and managed very effectively. The risk is the situation that has not occurred yet and may not occur in the future as well. After looking at this definition, risks can refer to the probability of the failure for a particular project. Risk based testing is the type of testing that is based on the priority and importance of the software that has to be tested. In this research work, the new technique to test the device software has been proposed using the JAVA language. The new system is able to test the software based on various risks and provide alternatives based on that the risk can be reduced in the future. It also calculates the updated cost and duration required to complete the software when a risk has occurred. The proposed application is able to provide efficient and accurate results in terms of entered risks on the device software. In the future, the software can be used to test the device software for more number of risks to make it more suitable as per the user's requirements. Ashwani Kumar | Prince Sood "Risk Driven Approach to Test Device Software" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-5 , August 2019, URL: https://www.ijtsrd.com/papers/ijtsrd25230.pdfPaper URL: https://www.ijtsrd.com/computer-science/other/25230/risk-driven-approach-to-test-device-software/ashwani-kumar
Risk Management In Construction Projects Of Developing CountriesIJERA Editor
Managing risks in construction projects has been perceived as a very important management process so as to
accomplish the undertaking goals as far as time, cost, quality, safety and environmental sustainability. Projects
have become shared effort of multiple parties and construction industry is a good example of an area, where the
project outcome is delivered in an extremely complex actor network. By adopting risk management, savings’
potentials can be realized in construction projects. For this reason, consideration of the risk management process
is worthwhile for project managers as well as real estate developers. The implementation of risk management
system in construction projects must be oriented towards the progress of the project and pervade all areas,
functions and processes of the project.
For analyzing the levels of various risk factors in construction industry, questionnaire surveys were used to
collect data. Based on a comprehensive assessment of the likelihood of occurrence of various risks and their
impacts on the project objectives, this paper identifies twenty major risk factors. This research found that these
risks are mainly related to (in ranking) contractors, clients and designers, with a few related to government
bodies, subcontractors/suppliers and external issues. Among them, “Financial Risk” is recognized to influence
all project destinations maximally, whereas working in hot areas, closure, defective design and delayed
payments on contract are also some important risk factors. This research also found that these risks spread
through the whole project life cycle and many risks occur in more than one phase, with the construction stage as
the most risky phase, followed by the feasibility stage. It is concluded that clients, designers and government
bodies must work cooperatively from the feasibility phase onwards to address potential risks in time. Also
contractors and subcontractors with robust construction and management knowledge should be employed early
to make sound preparation for carrying out safe, efficient and quality construction activities.
The aim of this research is to identify and evaluate current risks and uncertainties in the construction industry
through extensive literature survey. It also intends to make a basis for future studies for development of a risk
management structure to be adopted by prospective investors, developers and contractors in Developing
countries.
EFFECTIVE RISK MANAGEMENT IN CONSTRUCTION PROJECTSvivatechijri
Risk management is a step to make construction projects more efficient and practical such that
uncertainties should be identified before occurring and changing into crisis and a balance should be made
between threats and opportunities. Accordingly, construction industry is one of the most important and job
creating industries in all countries. Compared to other economic-industrial sectors, construction management is
highly influenced by the perception and employment of risk management concept. Additionally, there are
abundant risks in such activities since Construction projects activities are very complex and various. Hence, it
seems necessary to evaluate the proper use of risk management in various stages of Construction projects life
cycle. In this regard, the present study attempts to describe Construction projects life cycle step by step and
analyse the way of using risk management from designing stage to reviewing and supporting stage. The risk
management framework for construction projects can be improved by combining qualitative and quantitative
methodologies to risk analysis. The research work includes visiting and inspecting various construction sites,
analysing the field, collection of data, interpretation of data; using matrix method of risk calculation calculating
risk and providing effective measures to overcome it.
A study of various factors affecting risk management techniques in constructi...eSAT Journals
Abstract
Risk management is an important step which should not be neglect or ignore in every project. Because of various risk involved in construction, it is difficult to maintain time, cost and quality as planned. Project undertaken in the construction sector are widely complex and have often significant budgets, and thus reducing the risk associated should be a priority for each project manager. The main purpose of this paper is to identify the key risk factors that affect construction project. Questionnaires has been prepared incorporating of 50 difference questions after which questionnaire survey was conducted where the questions has been focused based on (component of questionnaire) the respondents were selected based on their susceptibility to the risk. The data was analyzed using the Statistical package for social sciences (SPSS) version 21. The result shows that the inadequate planning in construction project, poor adoption of site safety, supply and use of defective materials and poor resources management in construction project are all among the forefront key risk factors which affect construction project, meanwhile, effective recommendations have been developed to increases the efficiency, speedy and minimises risk and abortive work in construction project.
Keywords: Construction Industries, Construction Projects, Risks Management, Techniques
International Journal of Engineering and Science Invention (IJESI)inventionjournals
International Journal of Engineering and Science Invention (IJESI) is an international journal intended for professionals and researchers in all fields of computer science and electronics. IJESI publishes research articles and reviews within the whole field Engineering Science and Technology, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Recently, Construction IQ conducted an online survey on construction project risk management. Some valuable statistics emerged from the results. Have a look at what your colleagues and peers in the industry had to say…
Risk Management in High Rise Construction Projects: A ReviewA Makwana
This paper gives information about identification of risk factors and perceptions of Indian construction practitioners i.e., contractors, owners, project managers and Engineers on the importance of different construction risks and how the risks should be assigned between the different parties of the contract. As the very common project styles, construction projects have so many characteristics likewise time limitation, specific items, financial restrictions and requirements, extraordinary structural and legal situations, complexity features. For this situation every construction project has own complex method. Risks constantly happen at construction projects and frequently cause time overrun or cost overrun. If you don’t contemplate these risk factors, or neglect the main factors, these risk factors will affect the damage because of the managerial errors. Risk management is the process which covers to identify the risks, for assessment with the help of qualitatively and quantitatively, to response with appropriate technique for management and controlling. The concept has gain popularity in various industries. Various companies frequently found the method in their projects for upgrading their performance, reducing their losses and increasing their profits. Questionnaire survey among clients, contractors, engineers and architects is analyzed using, Relative Importance Index (RII) and Importance Index (IMP.I) methods. The focus of this study is to understand what Risk Management is, understand the process of risk management at construction project and have depth knowledge on the use of risk management in high-rise construction projects.
ANALYSIS OF RISK CATEGORIES AND FACTORS FOR PPP PROJECTS USING ANALYTIC HIERA...A Makwana
Success of Public Private Partnership projects is greatly influenced by proper management of the risks associated with the project. All projects which are undertaken using conventional procurement method or using a PPP approach have known risks and unknown risks. Risk identification plays an important role in development of PPP framework. The participation and investment of Private sector has been the main stay of the Government of India policy toward infrastructural growth. In this study main risk categories and factors of Public Private Partnership projects have been recognized. A total of 7 risk categories and 31 risk sub-factors for each category were identified for PPP projects safety listed under subheads. The questionnaire was prepared on the basis of literature review and was filled by 100 Stakeholders namely Consultant/Client, Project Manager/ Contractor, Engineer. Generally Analytic Hierarchy Process (AHP) is widely used as multi criteria decision making. Normally it is very hard to meet the consistence need of a comparison matrix in analytic hierarchy process. In this study AHP is used to categories the risks of PPP projects in different levels and the impact of those risks on the PPP projects are identified.
RISK MANAGEMENT IN CONSTRUCTION PROJECTS AS PER INDIAN SCENARIOIAEME Publication
Construction industry is highly risk prone, with complex and dynamic project
environments creating an atmosphere of high uncertainty and risk. The industry is
vulnerable to various technical, sociopolitical and business risks. The track record
to cope with these risks has not been very good in construction industry. As a
result, the people working in the industry bear various failures, such as, failure of
abiding by quality and operational requirements, cost overruns and uncertain delays
in project completion. In light of this, it can be said that an effective systems of risk
assessment and management for construction industry remains a challenging task
for the industry practitioners. The aim of the this research is to identify and evaluate
current risks and uncertainties in the construction industry through extensive
literature survey and aims to make a basis for future studies for development of a
risk management framework to be adopted by prospective investors, developers and
contractors
Claims Management And Assessment Through Documentationvivatechijri
Construction claims have such high impacts on the projects’ cost and time that the contractors should
establish the effective claim management in their organizations. This research aimed at presenting the key concepts of
construction claims, and construction claim management, focusing on the contractors’ point of view. In addition, a
questionnaire survey was done to assess the efficiency of the contractors in managing their claims. Three-hundred
claim management staffs from contractors’ organizations were then selected by using stratified sampling technique,
taking into account their company locations. It was found that the active tasks that the contractors can perform
efficiently consist of recognition and identification of the change, systematic and accurate documentation of the
change, analysis of time and cost impacts of the change. As to the defensive tasks, they are systematic and accurate
documentation of change, and analysis of time and cost impacts of the change. On the other hand, the activities that the
contractor can not perform well and should be improved are active notification of the change, active negotiation of the
claim, and defensive recognition and identification of the change. The result from this research can help the
contractors improve their weaknesses and maintain their strengths of their claim management process.
The Rank of Risk Factors Affecting Time Delay and Cost Overrun of Building Co...ijtsrd
In Yangon City, Myanmar, most of the building construction projects fail to meet their cost and time constraints, which will lead to low return on investment. The purpose of this paper is to understand risk management of building construction and the study area is Yangon. This study illustrates that how to manage risks in building construction to become a successful project with best possible outcome by reducing risks that delay the project. The study was conducted through a questionnaire survey administered to 39 construction projects and 148 professionals in Yangon for finding risk rating and prioritization of risk. Risk prioritization was done by Technique for Order of Preference by Similarity to Ideal Solution TOPSIS . Khin Su Yi | Kyaw Kyaw "The Rank of Risk Factors Affecting Time Delay and Cost Overrun of Building Constructions Projects in Yangon" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-4 , June 2020, URL: https://www.ijtsrd.com/papers/ijtsrd31557.pdf Paper Url :https://www.ijtsrd.com/management/risk-management/31557/the-rank-of-risk-factors-affecting-time-delay-and-cost-overrun-of-building-constructions-projects-in-yangon/khin-su-yi
EFFECTS OF RISK MANAGEMENT METHODS ON PROJECT PERFORMANCE IN RWANDAN CONSTRUC...Sibo Kanyambari Aimable
Risks are very common in construction sector. Risk is the Possibility of suffering loss and the impact on the involved parties. According to APM (2006), all projects are inherently risky because they are unique, constrained, complex, based on assumptions, and performed by people. As a result, project risk management methods must be built into the management of projects and should be used throughout the project lifecycle.
Many construction projects fail because organizations assume that all the projects would succeed and they therefore do not identify, analyze, and provide mitigation or contingencies for the risk elements involved in the project.
Society desires that all projects should be performing and has become less tolerant of failure (Edwards and Bowen, 2005). Pressure is exerted on project managers to minimize the chance of project failure. This increasing pressure for performance which suggests that it is prudent for anyone involved in a project to be concerned about the associated risks and how they can be effectively managed.
Traditionally, performance of a project is analyzed on the criteria of quality, budget and time of completion. Two more criteria to determine the performance of a project were added by Kerzner (2001). Firstly, the project would effectively and efficiently manage risks and, secondly, it should be accepted by the customer.
It is known that the cause of the projects failure can be directly related to the extent of risk management methods undertaken. Besides, the level of risk management methods undertaken during project lifecycle impacts directly on the performance or otherwise of the project. Furthermore, using risk management methods effectively to manage risk should be continuously undertaken throughout the project lifecycle to enhance project performance. Risk management methods are thus an important tool to cope with such substantial risks in projects performance.
The main objective of the enquiry work that underpins this research is to investigate the effect of risk management methods on project performance. In this paper, a case study of RSSB multi-storey already executed project is considered.
The International Journal of Engineering & Science is aimed at providing a platform for researchers, engineers, scientists, or educators to publish their original research results, to exchange new ideas, to disseminate information in innovative designs, engineering experiences and technological skills. It is also the Journal's objective to promote engineering and technology education. All papers submitted to the Journal will be blind peer-reviewed. Only original articles will be published.
In the present day corporate environment, where there is cut-throat competition, the need for efficient time management and timely completion of projects is essential for organizations to stay competitive. Even due to the growing need for time management in construction projects, many are failing to be finished on time. This can be detrimental for any hiring company since infrastructure development project delays can lead to increase in costs and process halt for organizations. These are real life scenarios which are bound to take place in the professional life of any and every project manager. A project manager will only be considered efficient and competent when he or she knows how to manage the allotted time, and to carry out operations and activities in a manner that further reduces this time period. In order to prepare project managers for such circumstances, it is crucial for them to understand Extension of Time and delay analysis.
Course link: https://planningengineer.net/courses/claims-management-and-delays-analysis-online-workshop/
Evaluation of Risk Factors Affecting Cost Performance of Construction Project...IJCMESJOURNAL
Effective management of risk is critical to the success of any construction project. The importance of risk management has grown as projects have become more complex. Contractors have traditionally used financial mark-ups to cover the risk associated with construction projects, but as competition increases and the margins become tighter, they can no longer rely on this strategy and must improve their ability to manage risk. This study has carried out an empirical evaluation of the effect of risk factors on cost performance of projects at delivery. The study is based on the analysis of primary data derived from bills of quantities for the construction/erection of hospital projects by the Ministry of Works and Housing, Jalingo in Taraba State. The obtained data was analyzed using linear regression, t-statistics, F-statistics, line and scatter graphs. The study identified the following risk variables as having significant impact on cost performance: project size, project location, project complexity, level of variations, prime cost sums and provisional sums, estimator bias, market conditions, level of competition, fraudulent practices, construction techniques, economic and political factors, construction accidents, health and safety factors. The study concludes that these factors have to be comprehensively assessed in the light of the individual projects. It recommends among others, the need for a departure from the use of traditional approach of percentage risk adjustment factor to a more comprehensive risk management system.
Risk Driven Approach to Test Device Softwareijtsrd
Software testing is one of the most crucial testings in the software development process. Software testing should be scheduled and managed very effectively. The risk is the situation that has not occurred yet and may not occur in the future as well. After looking at this definition, risks can refer to the probability of the failure for a particular project. Risk based testing is the type of testing that is based on the priority and importance of the software that has to be tested. In this research work, the new technique to test the device software has been proposed using the JAVA language. The new system is able to test the software based on various risks and provide alternatives based on that the risk can be reduced in the future. It also calculates the updated cost and duration required to complete the software when a risk has occurred. The proposed application is able to provide efficient and accurate results in terms of entered risks on the device software. In the future, the software can be used to test the device software for more number of risks to make it more suitable as per the user's requirements. Ashwani Kumar | Prince Sood "Risk Driven Approach to Test Device Software" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-5 , August 2019, URL: https://www.ijtsrd.com/papers/ijtsrd25230.pdfPaper URL: https://www.ijtsrd.com/computer-science/other/25230/risk-driven-approach-to-test-device-software/ashwani-kumar
Risk Management In Construction Projects Of Developing CountriesIJERA Editor
Managing risks in construction projects has been perceived as a very important management process so as to
accomplish the undertaking goals as far as time, cost, quality, safety and environmental sustainability. Projects
have become shared effort of multiple parties and construction industry is a good example of an area, where the
project outcome is delivered in an extremely complex actor network. By adopting risk management, savings’
potentials can be realized in construction projects. For this reason, consideration of the risk management process
is worthwhile for project managers as well as real estate developers. The implementation of risk management
system in construction projects must be oriented towards the progress of the project and pervade all areas,
functions and processes of the project.
For analyzing the levels of various risk factors in construction industry, questionnaire surveys were used to
collect data. Based on a comprehensive assessment of the likelihood of occurrence of various risks and their
impacts on the project objectives, this paper identifies twenty major risk factors. This research found that these
risks are mainly related to (in ranking) contractors, clients and designers, with a few related to government
bodies, subcontractors/suppliers and external issues. Among them, “Financial Risk” is recognized to influence
all project destinations maximally, whereas working in hot areas, closure, defective design and delayed
payments on contract are also some important risk factors. This research also found that these risks spread
through the whole project life cycle and many risks occur in more than one phase, with the construction stage as
the most risky phase, followed by the feasibility stage. It is concluded that clients, designers and government
bodies must work cooperatively from the feasibility phase onwards to address potential risks in time. Also
contractors and subcontractors with robust construction and management knowledge should be employed early
to make sound preparation for carrying out safe, efficient and quality construction activities.
The aim of this research is to identify and evaluate current risks and uncertainties in the construction industry
through extensive literature survey. It also intends to make a basis for future studies for development of a risk
management structure to be adopted by prospective investors, developers and contractors in Developing
countries.
The length of the implementation period in the construction of projects may lead to a change in
circumstances which expose them to many risks because of the length of the implementation period and multiple
stages, beginning with the start-up phase and even phase of the project, and this leads to increased circumstances of
uncertainty and increasing the probability of the occurrence of risks, and this is reflected negatively on the
construction contracting and construction economy.In this research questionnaire was developed to identify the
risks encountered in construction. Projects have been distributed to some local and foreign construction companies
in Libya, having been identified the risks that may face the projects. Through questionnaires and interviews with
engineers and project managers of companies, and making risk analysis qualitatively, there was a need to prepare a
checklist of the risks facing projects in Libya, and know the benefit of the contractor and the owner based on the
results. This paper examines the most important risks faced by construction projects in Libya, which is difficult and
how they are able to implement these projects and housing companies, the research explains a formulated model to
evaluate companies before being contracted to know the financial and technical capabilities.
Episode 25 : Project Risk Management
Understand what risk is and the importance of good project risk management.
Discuss the elements involved in risk management planning and the contents of a risk management plan.
List common sources of risks in engineering and information technology projects.
Describe the risk identification process, tools, and techniques to help identify project risks, and the main output of risk identification, a risk register.
SAJJAD KHUDHUR ABBAS
Chemical Engineering , Al-Muthanna University, Iraq
Oil & Gas Safety and Health Professional – OSHACADEMY
Trainer of Trainers (TOT) - Canadian Center of Human
Development
RISK MANAGEMENT IN HIGH RISE CONSTRUCTION PROJECTS IN SURAT CITYA Makwana
This paper gives information about identification of risk factors and perceptions of Indian construction practitioners i.e., contractors, owners, project managers and Engineers on the importance of different construction risks and how the risks should be assigned between the different parties of the contract. As the very common project styles, construction projects have so many characteristics likewise time limitation, specific items, financial restrictions and requirements, extraordinary structural and legal situations, complexity features. For this situation every construction project has own complex method. Risks constantly happen at construction projects and frequently cause time overrun or cost overrun. If you don’t contemplate these risk factors, or neglect the main factors, these risk factors will affect the damage because of the managerial errors. Risk management is the process which covers to identify the risks, for assessment with the help of qualitatively and quantitatively, to response with appropriate technique for management and controlling. The concept has gain popularity in various industries. Various companies frequently found the method in their projects for upgrading their performance, reducing their losses and increasing their profits. Questionnaire survey among clients, contractors, engineers and architects is analysed using, Relative Importance Index (RII)) method. The focus of this study is to understand what Risk Management is, understand the process of risk management at construction project and have depth knowledge on the use of risk management in high-rise construction projects.
Effect or Risk Management Methods on project performance in Rwandan Construct...Sibo Kanyambari Aimable
Risks are very common in construction sector. Risk is the Possibility of suffering loss and the impact on the involved parties. According to APM (2006), all projects are inherently risky because they are unique, constrained, complex, based on assumptions, and performed by people. As a result, project risk management methods must be built into the management of projects and should be used throughout the project lifecycle.
Many construction projects fail because organizations assume that all the projects would succeed and they therefore do not identify, analyze, and provide mitigation or contingencies for the risk elements involved in the project.
Society desires that all projects should be performing and has become less tolerant of failure (Edwards and Bowen, 2005). Pressure is exerted on project managers to minimize the chance of project failure. This increasing pressure for performance which suggests that it is prudent for anyone involved in a project to be concerned about the associated risks and how they can be effectively managed.
Traditionally, performance of a project is analyzed on the criteria of quality, budget and time of completion. Two more criteria to determine the performance of a project were added by Kerzner (2001). Firstly, the project would effectively and efficiently manage risks and, secondly, it should be accepted by the customer.
It is known that the cause of the projects failure can be directly related to the extent of risk management methods undertaken. Besides, the level of risk management methods undertaken during project lifecycle impacts directly on the performance or otherwise of the project. Furthermore, using risk management methods effectively to manage risk should be continuously undertaken throughout the project lifecycle to enhance project performance. Risk management methods are thus an important tool to cope with such substantial risks in projects performance.
The main objective of the enquiry work that underpins this research is to investigate the effect of risk management methods on project performance. In this paper, a case study of RSSB multi-storey already executed project is considered.
Reasons for Delaying the Constriction Projects in IraqDr. Amarjeet Singh
This article dealt with construction projects in Iraq, and the research focused on the risks that may affect these projects. The purpose of this study is to determine the risks that construction projects are exposed to in Iraq and the methods of dealing in order to reduce these risks. Sometimes, if the construction projects are similar to each other in terms of configuration, requirements and purpose, then changing the project site is very sufficient to make these projects differ from each other and thus may be exposed to different risks. These are risks that negatively affect the implementation of these projects and may lead to delay or increase in their cost. Here a questionnaire is designed to collect data to identify risks that may occur during the construction project phases. This questionnaire was distributed electronically to several samples in the public and private sectors within state institutions in Iraq. After completion, the risks that these projects may be exposed to were identified. This was done with engineers and managers of companies and projects working in the public, private and joint sectors, and then these risks were analyzed by the Social Sciences for Packet Statistical Test program(SPSS).
Software Project Risk Management Practice in OmanEECJOURNAL
Oman is a member of Gulf Cooperation Council (GCC). It is located in Southwest Asia and it has strategic significant boundaries, Overlooking the Arabian Sea, Gulf of Oman, and the Persian Gulf. It is the 80th in Global Innovation Index in 2019 and 63 in E-Government Development Index in 2018. Oman is an effective member of the Greater Arab Free Trade Agreement (GAFTA) and the World Trade Organization (WTO). Furthermore, Oman's government has continued efforts to develop local and foreign investments by signing a Free Trade Agreement (FTA) with the USA. Oman plays a significant role in investments due to its strategic location connected to the markets in the Gulf, the Middle East, Asia, and Africa. Oman's vision is to involve all new technologies to be always beside the developed countries. To achieve that, Oman established The Government Innovation Initiative to encourage government entities in creativity and introduce their suggestions to enhance governmental performance and enhance the efficiency in different fields. This is realized by involving modern technologies like the Internet of Things (IoT), Artificial Intelligence (AI), Cloud Computing, Virtual Reality Applications, and Blockchain. In Oman, the risk management approach is a core technique. Three major stages are applied systematically in risk management in software projects. These stages involve a) identifying the risk; b) analyzing and assessing the risk, and c) reaction to the risk. There is no doubt that the high risk belonged to business will have negative impacts on all of its participants. Wherefore, this paper sheds the light on that knowledge area. The aim of this paper is to review the present literature on risk management processes implemented in software projects. There is a dearth in the literature which covers the risk management area knowledge in Oman's organizations. This paper target finding out the commonly used frameworks or mechanisms in risk management in software projects. It also tries to collect the responses to state the various types of risk origins in the existing profit and non-profit organizations in Oman and to recognize the coming research trends in this area.
The success rate of real estate project is
decreasing as there is large scale of project and participation of
entities. It is necessary to study the risk factors involved in the
project. This paper focused on types of risks involved in the
project, risk factors, risk management tools & techniques.
Identification of risk of the project in terms of the total cost of the
project has been divided under Technical, Financial, Sociopolitical
and Statutory cost centers. Large real estate projects
have to tackle the following issues: land acquisition, skilledlabour
shortage, non-availability of skilled project managers, and
mechanization of the construction process to cater to the growing
demands. Non- availability of supporting infrastructure, political
issues like instability of the government leading to regulatory
issues, social issues, marketing forms an important part in these
projects as this is a onetime investment and the purchase cycle is
long , long development period makes the same project be at
different points in the real estate value cycle.
Risks have a significant impact on a construction
project’s performance in terms of cost, time and quality. As
the size and complexity of the projects have increased, an
ability to manage risks throughout the construction process
has become a central element preventing unwanted
consequences. How risks are shared between the project
actors is to a large extent governed by the procurement
option and the content of the related contract documents.
Therefore, selecting an appropriate project procurement
option is a key issue for project actors.
The overall aim of this research is to increase the
understanding of risk management in the different
procurement options: design-bid-build contracts, designbuild contracts and collaborative form of partnering. Deeper
understanding is expected to contribute to a more effective
risk management and, therefore, a better project output and
better value for both clients and contractors. The study
involves nine construction projects recently performed in
Sweden and comprises a questionnaire survey and a series of
interviews with clients, contractors and consultants involved
in these construction projects.
The findings of this work show a lack of an iterative
approach to risk management, which is a weakness in current
procurement practices. This aspect must be addressed if the
risk management process is to serve projects and, thus, their
clients. The absence of systematic risk management is
especially noted in the programme phase, where it arguably
has the greatest potential impact. The production phase is
where most interest and activity are to be found. As a matter
of practice, the communication of risks between the actors
simply does not work to the extent that it must if projects are
to be delivered with certainty, irrespective of the form of
procurement.
A clear connection between the procurement option
and risk management in construction projects has been
found. Traditional design-bid-build contracts do not create
opportunities for open discussion of project risks and joint
risk management. A number of drivers of and obstacles to
effective risk management have been explored in the study.
Every actor’s involvement in dialogue, effective
communication and information exchange, open attitudes
and trustful relationship are the factors that support open
discussion of project risks and, therefore, contribute to
successful risk management.
Based on the findings, a number of recommendations
facilitating more effective risk management have been
developed for the industry practitioners.
Similar to IRJET-Qualitative Risk Analysis for Construction Projects (20)
Sachpazis:Terzaghi Bearing Capacity Estimation in simple terms with Calculati...Dr.Costas Sachpazis
Terzaghi's soil bearing capacity theory, developed by Karl Terzaghi, is a fundamental principle in geotechnical engineering used to determine the bearing capacity of shallow foundations. This theory provides a method to calculate the ultimate bearing capacity of soil, which is the maximum load per unit area that the soil can support without undergoing shear failure. The Calculation HTML Code included.
COLLEGE BUS MANAGEMENT SYSTEM PROJECT REPORT.pdfKamal Acharya
The College Bus Management system is completely developed by Visual Basic .NET Version. The application is connect with most secured database language MS SQL Server. The application is develop by using best combination of front-end and back-end languages. The application is totally design like flat user interface. This flat user interface is more attractive user interface in 2017. The application is gives more important to the system functionality. The application is to manage the student’s details, driver’s details, bus details, bus route details, bus fees details and more. The application has only one unit for admin. The admin can manage the entire application. The admin can login into the application by using username and password of the admin. The application is develop for big and small colleges. It is more user friendly for non-computer person. Even they can easily learn how to manage the application within hours. The application is more secure by the admin. The system will give an effective output for the VB.Net and SQL Server given as input to the system. The compiled java program given as input to the system, after scanning the program will generate different reports. The application generates the report for users. The admin can view and download the report of the data. The application deliver the excel format reports. Because, excel formatted reports is very easy to understand the income and expense of the college bus. This application is mainly develop for windows operating system users. In 2017, 73% of people enterprises are using windows operating system. So the application will easily install for all the windows operating system users. The application-developed size is very low. The application consumes very low space in disk. Therefore, the user can allocate very minimum local disk space for this application.
Event Management System Vb Net Project Report.pdfKamal Acharya
In present era, the scopes of information technology growing with a very fast .We do not see any are untouched from this industry. The scope of information technology has become wider includes: Business and industry. Household Business, Communication, Education, Entertainment, Science, Medicine, Engineering, Distance Learning, Weather Forecasting. Carrier Searching and so on.
My project named “Event Management System” is software that store and maintained all events coordinated in college. It also helpful to print related reports. My project will help to record the events coordinated by faculties with their Name, Event subject, date & details in an efficient & effective ways.
In my system we have to make a system by which a user can record all events coordinated by a particular faculty. In our proposed system some more featured are added which differs it from the existing system such as security.
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Vaccine management system project report documentation..pdfKamal Acharya
The Division of Vaccine and Immunization is facing increasing difficulty monitoring vaccines and other commodities distribution once they have been distributed from the national stores. With the introduction of new vaccines, more challenges have been anticipated with this additions posing serious threat to the already over strained vaccine supply chain system in Kenya.
Saudi Arabia stands as a titan in the global energy landscape, renowned for its abundant oil and gas resources. It's the largest exporter of petroleum and holds some of the world's most significant reserves. Let's delve into the top 10 oil and gas projects shaping Saudi Arabia's energy future in 2024.
Forklift Classes Overview by Intella PartsIntella Parts
Discover the different forklift classes and their specific applications. Learn how to choose the right forklift for your needs to ensure safety, efficiency, and compliance in your operations.
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Explore the innovative world of trenchless pipe repair with our comprehensive guide, "The Benefits and Techniques of Trenchless Pipe Repair." This document delves into the modern methods of repairing underground pipes without the need for extensive excavation, highlighting the numerous advantages and the latest techniques used in the industry.
Learn about the cost savings, reduced environmental impact, and minimal disruption associated with trenchless technology. Discover detailed explanations of popular techniques such as pipe bursting, cured-in-place pipe (CIPP) lining, and directional drilling. Understand how these methods can be applied to various types of infrastructure, from residential plumbing to large-scale municipal systems.
Ideal for homeowners, contractors, engineers, and anyone interested in modern plumbing solutions, this guide provides valuable insights into why trenchless pipe repair is becoming the preferred choice for pipe rehabilitation. Stay informed about the latest advancements and best practices in the field.