This document summarizes a research article about risk management in construction projects. It discusses risks that commonly affect construction projects like time, cost and quality overruns. A survey was conducted in Pakistan to understand perceptions of different risks, responsibilities for managing risks, and effectiveness of risk management techniques. The top three significant risks identified were financial issues, accidents on site, and defective design. Contractors are typically responsible for risks during implementation, while clients manage pre-project risks. The most effective preventative techniques were proper scheduling and learning from past projects. Close supervision and coordination during projects were the most effective remedial techniques. Overall, the research emphasizes the importance of managing significant risks and using best practices like scheduling and coordination to improve project outcomes.
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…
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.
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.
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
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
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…
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.
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.
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
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
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
RISK LEVEL ASSESSMENT ON ROAD CONSTRUCTION’S CONTRACTORS USING CULTURAL – PRO...IAEME Publication
This study aimed to analyze the characteristics of potential risk and the risk levels to the contractors in a road construction project and its impact on service providers (contractors), and to make a risk assessment model with multi-criteria to the contractors in road construction projects. Objective contractors road construction is not optimal due to non-performance risk management in the project with the right. This study is done in the form of a survey by capturing the opinions or perceptions, experiences and attitudes of respondents implementing on road construction. Parameters indicating the risk of road construction projects were model and tested using the methodology of Expert Choice to describe, quantify and demonstrate the risk level, allocation, and response in road construction projects with different risk variables. Results of the study firstly identified 281 risks for the road construction including 57 non-technical, 39 technical, 36 financial, 76 cultural, 38 work health and safety management aspect and 35 environmental aspects.
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.
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.
A Study on Risk Assessment in Construction ProjectsIJMER
Risks are very common in construction sector. Risk management includes identifying risks,
assessing risks either quantitatively or qualitatively, choosing the appropriate method for handling the
risks, and then monitoring and documenting risks. By identifying risks in an early stage of planning and
assessing their relative importance, project managers can identify methods used to reduce risks and
allocate the best people to mitigate them. Thus, this research focuses on risk identification, as opposed
to other processes of risk management. "Brain-storming sessions" is the most popular method used
frequently to identify the risks in projects as deduced from a questionnaire survey from participants in
large construction projects. Time and cost management need to be fully integrated with the
identification process. Time constraints and project managers with sufficient experience are critical
when identifying the level of risk for large and/or complex projects. The most considerable types of risk
in construction projects are financial risks, construction risks, and demand or product risks
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).
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.
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.
Exploring the risk factors associated with peb projects in lahore.Rizwan Khurram
The construction industry is more exposed to risk than other industry. If the risk is not handled properly it may causes the poor performance on the industry. The Scale of building projects is large in nature and having large amount of investment. Wastage of any resource influence is high loss in project. All the losses are associated with risk factors. In Pakistan, only few researches have been done so far in this area. Thus this study needs focus of risk management in field of construction projects. We conclude from study that financial issue, skillful workers, shortage and inaccurate design are significant risk factors affecting the projects. Contractors are responsible for risk linked with machinery, material and quality related issues. While clients are responsible for the risk associated with scope of work. Study concludes that good coordination and communication between stakeholders and proper drawings works are key factors to control the project.
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.
The main objective of the present study was to construct a comprehensive, easy-to-use tool for Greek NGOs, an add-on to “APOPLOUS”. The authors based their study on the latest International Competence Baseline version in use of the International Project Management Association and specifically on the Austrian and the Greek National Baselines. The Guidelines and the standardised handbook were used in a pilot phase by a selected sample of NGOs and their feedback is included in the presented version.
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
RISK LEVEL ASSESSMENT ON ROAD CONSTRUCTION’S CONTRACTORS USING CULTURAL – PRO...IAEME Publication
This study aimed to analyze the characteristics of potential risk and the risk levels to the contractors in a road construction project and its impact on service providers (contractors), and to make a risk assessment model with multi-criteria to the contractors in road construction projects. Objective contractors road construction is not optimal due to non-performance risk management in the project with the right. This study is done in the form of a survey by capturing the opinions or perceptions, experiences and attitudes of respondents implementing on road construction. Parameters indicating the risk of road construction projects were model and tested using the methodology of Expert Choice to describe, quantify and demonstrate the risk level, allocation, and response in road construction projects with different risk variables. Results of the study firstly identified 281 risks for the road construction including 57 non-technical, 39 technical, 36 financial, 76 cultural, 38 work health and safety management aspect and 35 environmental aspects.
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.
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.
A Study on Risk Assessment in Construction ProjectsIJMER
Risks are very common in construction sector. Risk management includes identifying risks,
assessing risks either quantitatively or qualitatively, choosing the appropriate method for handling the
risks, and then monitoring and documenting risks. By identifying risks in an early stage of planning and
assessing their relative importance, project managers can identify methods used to reduce risks and
allocate the best people to mitigate them. Thus, this research focuses on risk identification, as opposed
to other processes of risk management. "Brain-storming sessions" is the most popular method used
frequently to identify the risks in projects as deduced from a questionnaire survey from participants in
large construction projects. Time and cost management need to be fully integrated with the
identification process. Time constraints and project managers with sufficient experience are critical
when identifying the level of risk for large and/or complex projects. The most considerable types of risk
in construction projects are financial risks, construction risks, and demand or product risks
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).
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.
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.
Exploring the risk factors associated with peb projects in lahore.Rizwan Khurram
The construction industry is more exposed to risk than other industry. If the risk is not handled properly it may causes the poor performance on the industry. The Scale of building projects is large in nature and having large amount of investment. Wastage of any resource influence is high loss in project. All the losses are associated with risk factors. In Pakistan, only few researches have been done so far in this area. Thus this study needs focus of risk management in field of construction projects. We conclude from study that financial issue, skillful workers, shortage and inaccurate design are significant risk factors affecting the projects. Contractors are responsible for risk linked with machinery, material and quality related issues. While clients are responsible for the risk associated with scope of work. Study concludes that good coordination and communication between stakeholders and proper drawings works are key factors to control the project.
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.
The main objective of the present study was to construct a comprehensive, easy-to-use tool for Greek NGOs, an add-on to “APOPLOUS”. The authors based their study on the latest International Competence Baseline version in use of the International Project Management Association and specifically on the Austrian and the Greek National Baselines. The Guidelines and the standardised handbook were used in a pilot phase by a selected sample of NGOs and their feedback is included in the presented version.
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.
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.
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.
RISK RESPONSE STRATEGIES AND PERFORMANCE OF PROJECTS IN KIRINYAGA .docxdaniely50
RISK RESPONSE STRATEGIES AND PERFORMANCE OF PROJECTS IN KIRINYAGA COUNTY, KENYA
JAMES KADEGHE WARUI
D53/OL/CTY/26217/15
A RESEARCH PROJECT SUBMITTED TO THE SCHOOL OF BUSINESS IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF DEGREE OF MASTER OF BUSINESS ADMINISTRATION (PROJECT MANAGEMENT) OF KENYATTA UNIVERSITY Comment by user: Proposal
MAY, 2019
DECLARATION
I declare that, this proposal is my own original work and has not been presented for award of any degree in any university. No part of this proposal should be reproduced without the authority of the author and/or Kenyatta University.
Signature Date .
James Kadeghe Warui,
D53/OL/CTY/26217/15.
This research proposal has been submitted for the course examination with my approval as the University supervisor.
Signature . Date.
Dr. Lucy Ngugi,
Department of Management Science,
Kenyatta University.
DEDICATION
This work is dedicated to my family for giving me a chance to pursue an education. I also wish to dedicate this proposal to my colleagues for the encouragement and support they gave me towards the completion of this work
ACKNOWLEDGEMENT
I am thankful to God for the good health and strength He installed upon me to pursue this project. I wish to most sincerely thank my entire family for their overwhelming support throughout this process, they have always been a source of inspiration from whom I get my strength. I also appreciate my friends and colleagues who shared this journey with me and encouraged me in this journey. Comment by user: Need to acknowledge supervisor
TABLE OF CONTENTS
DECLARATIONii
DEDICATIONiii
ACKNOWLEDGEMENTiv
LIST OF TABLESvii
LIST OF FIGURESviii
OPERATIONAL DEFINITION OF TERMSix
ABBREVIATIONS AND ACRONYMSx
ABSTRACTxi
CHAPTER ONE1 put chapter and its heading on same line
INTRODUCTION1
1.1Background of the Study1
1.1.1 Project Performance2
1.1.2 Risk Response Strategies3
1.1.3 Projects in Kirinyaga County5
1.2 Statement of the Problem5
1.3 Objectives of the Study6
1.3.1 General Objective of the Study6
1.3.1 Specific Objectives of the Study6
1.4 Research Questions7
1.5 Significance of the Study7
1.6 Scope of the Study8
1.7 Limitation of the Study8
1.8 Organization of the Study9
CHAPTER TWO10 put chapter and its heading on same line
LITERATURE REVIEW10
2.1 Introduction10
2.2 Theoretical Review10
2.2.1 Enterprise Risk Management Model10
2.2.2 Expectancy Theory11
2.2.3 Network Theory12
2.3 Empirical Literature Review12
2.3.1 Risk Avoidance and Project Performance13
2.3.2 Risk Acceptance and Project Performance14
2.3.3 Risk Monitoring and Project Performance15
2.3.4 Risk Mitigation and Project Performance16
2.3.5 Risk Transfer and Project Performance17
2.4 Summary of Literature Review and Research Gaps19
2.5 Conceptual Framework23
CHAPTER THREE24 put chapter and its heading on same line
RESEARCH METHODOLOGY24
3.1 Introduction24
3.2 Research Design24
3.3 Target Population24
3.4 Data Collection Instruments25
.
ESTABLISHING RISK MANAGEMENT FACTORS FOR CONSTRUCTION PROJECTS IN IRAQ IAEME Publication
The construction industry is widely associated with a high risk and uncertainty due to the nature of its operating environment. This study aim s to identify and evaluate key risk factors and their frequency and severity and then their impact in different types of construction projects in Iraq . A questionnaire survey was conducted and a total of sixty five critical factors were identified and categorized into eight groups. These are: 1. Financial related risk, 2. Legal related risk, 3. Management risk, 4. Market related risk, 5. Politic al and security related risk, 6. Technical related risk, 7. Environmental related risk, and 8. Social related risk. Seventy five respondents participated in the survey representing 22 clients, 21 consultants and 32 contractors. The results are presented on the basis of their frequency, severity and importance. The study revealed that the most ten important factors are: Security measures, loss incurred due t o corruption and bribery, loss due to bureaucracy for late approvals, un-official holidays, loss incurred due to political changes, increase of material s price, unfairness in tendering, improper project planning and budgeting, design changes and increase of labor costs. Finally the study suggested that what are the importance of risk function and project risk management for project success.
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.
Water billing management system project report.pdfKamal Acharya
Our project entitled “Water Billing Management System” aims is to generate Water bill with all the charges and penalty. Manual system that is employed is extremely laborious and quite inadequate. It only makes the process more difficult and hard.
The aim of our project is to develop a system that is meant to partially computerize the work performed in the Water Board like generating monthly Water bill, record of consuming unit of water, store record of the customer and previous unpaid record.
We used HTML/PHP as front end and MYSQL as back end for developing our project. HTML is primarily a visual design environment. We can create a android application by designing the form and that make up the user interface. Adding android application code to the form and the objects such as buttons and text boxes on them and adding any required support code in additional modular.
MySQL is free open source database that facilitates the effective management of the databases by connecting them to the software. It is a stable ,reliable and the powerful solution with the advanced features and advantages which are as follows: Data Security.MySQL is free open source database that facilitates the effective management of the databases by connecting them to the software.
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.
Hybrid optimization of pumped hydro system and solar- Engr. Abdul-Azeez.pdffxintegritypublishin
Advancements in technology unveil a myriad of electrical and electronic breakthroughs geared towards efficiently harnessing limited resources to meet human energy demands. The optimization of hybrid solar PV panels and pumped hydro energy supply systems plays a pivotal role in utilizing natural resources effectively. This initiative not only benefits humanity but also fosters environmental sustainability. The study investigated the design optimization of these hybrid systems, focusing on understanding solar radiation patterns, identifying geographical influences on solar radiation, formulating a mathematical model for system optimization, and determining the optimal configuration of PV panels and pumped hydro storage. Through a comparative analysis approach and eight weeks of data collection, the study addressed key research questions related to solar radiation patterns and optimal system design. The findings highlighted regions with heightened solar radiation levels, showcasing substantial potential for power generation and emphasizing the system's efficiency. Optimizing system design significantly boosted power generation, promoted renewable energy utilization, and enhanced energy storage capacity. The study underscored the benefits of optimizing hybrid solar PV panels and pumped hydro energy supply systems for sustainable energy usage. Optimizing the design of solar PV panels and pumped hydro energy supply systems as examined across diverse climatic conditions in a developing country, not only enhances power generation but also improves the integration of renewable energy sources and boosts energy storage capacities, particularly beneficial for less economically prosperous regions. Additionally, the study provides valuable insights for advancing energy research in economically viable areas. Recommendations included conducting site-specific assessments, utilizing advanced modeling tools, implementing regular maintenance protocols, and enhancing communication among system components.
Industrial Training at Shahjalal Fertilizer Company Limited (SFCL)MdTanvirMahtab2
This presentation is about the working procedure of Shahjalal Fertilizer Company Limited (SFCL). A Govt. owned Company of Bangladesh Chemical Industries Corporation under Ministry of Industries.
Cosmetic shop management system project report.pdfKamal Acharya
Buying new cosmetic products is difficult. It can even be scary for those who have sensitive skin and are prone to skin trouble. The information needed to alleviate this problem is on the back of each product, but it's thought to interpret those ingredient lists unless you have a background in chemistry.
Instead of buying and hoping for the best, we can use data science to help us predict which products may be good fits for us. It includes various function programs to do the above mentioned tasks.
Data file handling has been effectively used in the program.
The automated cosmetic shop management system should deal with the automation of general workflow and administration process of the shop. The main processes of the system focus on customer's request where the system is able to search the most appropriate products and deliver it to the customers. It should help the employees to quickly identify the list of cosmetic product that have reached the minimum quantity and also keep a track of expired date for each cosmetic product. It should help the employees to find the rack number in which the product is placed.It is also Faster and more efficient way.
An Approach to Detecting Writing Styles Based on Clustering Techniquesambekarshweta25
An Approach to Detecting Writing Styles Based on Clustering Techniques
Authors:
-Devkinandan Jagtap
-Shweta Ambekar
-Harshit Singh
-Nakul Sharma (Assistant Professor)
Institution:
VIIT Pune, India
Abstract:
This paper proposes a system to differentiate between human-generated and AI-generated texts using stylometric analysis. The system analyzes text files and classifies writing styles by employing various clustering algorithms, such as k-means, k-means++, hierarchical, and DBSCAN. The effectiveness of these algorithms is measured using silhouette scores. The system successfully identifies distinct writing styles within documents, demonstrating its potential for plagiarism detection.
Introduction:
Stylometry, the study of linguistic and structural features in texts, is used for tasks like plagiarism detection, genre separation, and author verification. This paper leverages stylometric analysis to identify different writing styles and improve plagiarism detection methods.
Methodology:
The system includes data collection, preprocessing, feature extraction, dimensional reduction, machine learning models for clustering, and performance comparison using silhouette scores. Feature extraction focuses on lexical features, vocabulary richness, and readability scores. The study uses a small dataset of texts from various authors and employs algorithms like k-means, k-means++, hierarchical clustering, and DBSCAN for clustering.
Results:
Experiments show that the system effectively identifies writing styles, with silhouette scores indicating reasonable to strong clustering when k=2. As the number of clusters increases, the silhouette scores decrease, indicating a drop in accuracy. K-means and k-means++ perform similarly, while hierarchical clustering is less optimized.
Conclusion and Future Work:
The system works well for distinguishing writing styles with two clusters but becomes less accurate as the number of clusters increases. Future research could focus on adding more parameters and optimizing the methodology to improve accuracy with higher cluster values. This system can enhance existing plagiarism detection tools, especially in academic settings.
NO1 Uk best vashikaran specialist in delhi vashikaran baba near me online vas...Amil Baba Dawood bangali
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Student information management system project report ii.pdfKamal Acharya
Our project explains about the student management. This project mainly explains the various actions related to student details. This project shows some ease in adding, editing and deleting the student details. It also provides a less time consuming process for viewing, adding, editing and deleting the marks of the students.
Harnessing WebAssembly for Real-time Stateless Streaming PipelinesChristina Lin
Traditionally, dealing with real-time data pipelines has involved significant overhead, even for straightforward tasks like data transformation or masking. However, in this talk, we’ll venture into the dynamic realm of WebAssembly (WASM) and discover how it can revolutionize the creation of stateless streaming pipelines within a Kafka (Redpanda) broker. These pipelines are adept at managing low-latency, high-data-volume scenarios.
Tutorial for 16S rRNA Gene Analysis with QIIME2.pdf
Tede 2015 ._09_._21_riskmanag (1)
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Risk management in construction projects
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Risk management in construction projects
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4. Introduction
Risk is defined as exposure to loss/gain or the probability of occurrence of loss/gain mul-
tiplied by its respective magnitude. Events are said to be certain if the probability of their
occurrence is 100% or totally uncertain if the probability of occurrence is 0%. In between
these extremes, the uncertainty varies rather widely. Nowadays, risk can be assessed using
various types of information (Bon-Gang et al. 2014; Zavadskas et al. 2010b; Ustinovičius
et al. 2010). Just as any other economic activity, construction business is risky. Successes
and implementation in construction industry depends on the level of risk (Paslawski 2013).
However, construction projects are perceived to have more inherent risks due to involve-
ment of many contracting parties, such as owners, designers, contractors, subcontractors,
suppliers, etc. (PMI 2004). Conflict-solving among entities has been analysed by Šostak
and Makutėnienė (2013).
Risk analysis and management are an important part of the decision-making process in
construction industry. Construction industry and its clients are widely associated with high
degree of risks due to the nature of micro-, meso- and macro-environments particular to
construction (Zavadskas et al. 2010a); however, construction industry has poor reputation
in coping with risks as many projects fail to meet deadlines and cost targets (Shevchenko
et al. 2008). Clients, contractors, the public and others have suffered as a result (Zavadskas
et al. 2012, 2010b). Thus, construction business is related to high risk, which affects each
of its participant; while effective analysis and management of construction associated risks
remain a big challenge to practitioners of the industry (Kapliński 2009a). The following
should be considered: the importance of risks, their current management techniques, the
existing status of risk management systems in organisations, and barriers to effective risk
management from the perspective of key stakeholders. The analysis reveals that financial
and economic factors, followed by quality, are the most important risks, and the industry
generally tries to avoid or transfer these risks (Choudhry, Iqbal 2013). As risk perception
is an important aspect of risk management, the attitude toward and the barriers to risk
management and the benefits perceived are prerequisites for the analysis and management
of risks. Although numerous papers have been written on the subject of risk management,
most of the surveys are conducted in the developed countries and little information exists
on the perception of risk in developing countries (Hameed, Woo 2007).
For effective management of risks, it is important how people in this industry perceive
each risk. The main goal of this paper is to know the attitude of construction practitioners
toward different types of risk and respective responsibility. In addition, the paper presents
the most effective techniques in preventing/mitigating different types of risk. The objectives
of the study are as follow:
1. To identify risks in construction projects so they could be managed while achieving
project objectives.
2. To identify major risk management techniques practiced in managing risks in the
construction industry.
66 S. Iqbal et al. Risk management in construction projects
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5. 3. To find risk ranking and investigate risk-related responsibilities for clients and con-
tractors in order to manage risks effectively.
4. To investigate effectiveness of risk management techniques for managers to manage
risks more efficiently.
1. Review of risk in construction industry
Construction industry in general as well as construction project activity are risky (Zavadskas
et al. 2010a). Risk can be explained as an event that has an impact on objectives, may have a
positive or negative outcome and takes place in micro, meso and macro environments. Risk
management is a system which aims to identify and quantify all risks, to which a business
or project is exposed, so that a conscious decision can be taken on how to manage the risks
(Markmann et al. 2013). PMBOK lists risk management as one of nine focuses in project
managementandexplainsitasasystematicprocess ofidentifying,analysing andresponding to
project risks. It includes maximisation of the probability and consequences of positive events
and minimisation of the probability and consequences of events adverse to project objectives.
High importance of project selection in the project life cycle while solving bid/no-bid
problems, especially in the construction industry, have been analysed by Abbasianjahromi
and Rajaie (2012). Risk can be analysed with the help of the following methods: based on
fuzzy TOPSIS bid/no-bid model (Ravanshadnia, Rajaie 2013); in fuzzy environment, applying
TOPSIS-F method (Tamošaitienė et al. 2013); based on intelligent agents (Smeureanu et al.
2012); RAMCAP (Risk Analysis and Management for Critical Asset Protection) by introdu-
cing new parameters that affect risk value (Yazdani et al. 2011); and Fuzzy Synthetic Model
(Abdul-Rahman et al. 2013). In terms of risk management, it is important to consider the
following issues:
–
– the origin of risk context;
–
– identifyandallocateprocesses(Liet al.2013;Jaskowski,Sobotka2012;Hannaet al.2013);
–
– analyse information (Zavadskas et al. 2010a, 2010b);
–
– analyse the flexibility of results (Jaskowski, Sobotka 2012; Ustinovičius et al. 2010;
Kapliński 2008);
–
– risk assessment and evaluation (El-Sayegh 2007; Ke et al. 2012; Markmann et al. 2013;
Skinner et al. 2014);
–
– treatment;
–
– function or process of risk (Zavadskas et al. 2010a; Kapliński 2009b, 2013); and
–
– monitoringandcommunicationofrisksassociatedwithanyactivity(Xianboet al. 2014).
All above-mentioned activity aims to minimise losses and maximise opportunities.
Extensive literature is available on the importance of risk and its management. The exchange
and interest rate risks should be undertaken by the owner (Jaskowski, Sobotka 2012;
Hanna et al. 2013). As shown in Figure 1, in construction industry, risk related to Build-
Operate-Transfer (BOT) should be considered depending on the impact of enterprise activity
and the organisation system.
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6. Some researchers investigated different risk management approaches used in different
countries, e.g. the risk of differences between enterprise stakeholders in several projects
(El-Sayegh 2007; Bon-Gang et al. 2014).
2. Research methodology and practical example
The risk assessment in construction projects has been applied differently from project to
project, using various models of risk assessment to evaluate the risk in certain activities of
the projects. Many researchers have proposed various types of risk assessment models for
precise activities in the construction project assessment (Yafai et al. 2014).
This study is aimed at highlighting the main risks that Pakistani construction projects are
facing and the risk management techniques used to manage these risks. It also describes the
perception of professionals regarding the significance of these risks and risk management
techniques used for their management. Expert judgment questionnaire was used as the
research methodology.
The presented model of risk assessment for Pakistani construction industry will serve as a
supplementary tool for risk assessment of different types of construction projects in Pakistan
and can be useful for other establishments in the same category, especially those that have
similar construction industry as in Pakistan.
The research used a questionnaire to evaluate the risk in the construction industry of
Pakistan. The questionnaire-based survey was used as the main source of data collection.
The questionnaire was prepared following a thorough literature review and in-depth inter-
views with experienced professionals in this industry for questionnaire finalisation as per
local conditions. The questionnaire is composed of three parts. The first part consists of 37
different types of risk and discussion with industry practitioners, to modify it as per local
Extremely high
High
Medium
Low Extremely low
Stakeholder
Contractor
Severity
Probability
Project
in general
Project
specifics
International
market
CONSTRUCTION INDUSTRY
Management
Controlling
Documentation
Profiling
Risk
management
service
Risk
modelling
Project
specifics
Project
specifics
Risk rise
Risk rise
RISK
IN
CONSTRUCTION
INDUSTRY
Build-
Operate-Transfer
(BOT)
Fig. 1. Risk model in construction industry
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7. conditions. This part presents the perception of respondents toward significance of these
risks. Respondents were required to use the Likert Scale (1–5) indicating the significance of
these risks: “1” for the lowest significance and “5” for the highest. The second part investigates
the responsibility for each type of risk, using categories client’s responsibility, contractor’s
responsibility or shared responsibility. Respondents were required to choose from these three
options. Consultant’s responsibility was ultimately attributed to client’s responsibility as a
consultant is the client’s representative. The third part consists of different risk management
techniques that are preventive and remedial and finalised after a thorough discussion with
industry professionals. The respondents were required to use the Likert Scale (1–5) in order
to indicate the effectiveness of these risk management techniques, “1” for the lowest effect-
iveness and “5” for the highest. The questionnaire was designed aiming to make it as simple
as possible. Prior to its use, it was discussed with a professional to ensure easy understanding
for respondents.
The non-probability sampling techniques are useful when there are limited resources,
inability to identify construction project team members, and a need to establish the exist-
ence of a problem (Ling et al. 2013; Zavadskas et al. 2012; Hashemkhani Zolfani et al. 2012).
Members of population are chosen based on their relative ease of access, which was used
for this survey. The total of 150 finalised questionnaires were distributed for construction
projects delivered in Rawalpindi and Islamabad area, out of which 86 were collected in
completed form. The response rate amounted to 57%. The questionnaire had to be filled by
respondents with at least engineer level position with necessary knowledge of risks and risk
management techniques.
3. Results and analysis
3.1. Risk significance
There are different types of risk associated with construction industry. The degree of impact
of different risks on the project delay is described as risk importance. 37 most applicable risks
were incorporated in the questionnaire, which was finalised following a thorough literature
review (Hameed, Woo 2007; Al-Kharashi, Skitmore 2009; López-Alonso et al. 2013; Cree-
mers et al. 2014) and a discussion with a professional with substantial experience of work
with clients, contractors and consultants of the industry. Respondents were required to use
the Likert Scale (1–5) to indicate their perception of the significance of each risk: “1” for the
lowest significance and “5” for the highest risk significance. The results were summarised
and cumulative scores were calculated for each type of risk. Once the cumulative score was
calculated, the percentage score was calculated for each risk using the formula given below:
100%
age score
W
AS
A N
= ⋅
⋅
∑ , (1)
where age score
AS – age score; W – the score obtained from each respondent; A – the min-
imum score, which is “0”, and the maximum score, which is “5”; and N – the total number
of respondents, 86 for this survey.
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8. The percentage scoring technique was used because it is generally used in our daily life
and is easy to understand by everyone. Risks were arranged in the sequence of decreasing
risk significance.
3.2. Risk responsibility
In the questionnaire, risk responsibility was arranged into following categories: client respons-
ibility, contractor responsibility and shared responsibility. A consultant’s responsibility was
not considered separately as a consultant usually acts as the client’s agent and has no contrac-
tual relations with the contractor; thus, the responsibility is ultimately shifted to the client
and is considered as his. The collected data was summarised and percentage responsibilities
were calculated for each category as per data supplied by respondent’s. For each category,
risk responsibility was ultimately considered as the responsibility of that specific category,
provided the percentage was equal to or more than 50%.
In terms of the standard set of risk responsibility for each category, 8 risks came under
the responsibility of a client with more that 50% of responsibility as per data supplied by
respondents and provided in Table 1; while 16 risks came under a contractor’s responsibility
provided in Table 2. In total, respondents indicated 8 risks as shared responsibility as dis-
played in Table 3. 5 risks were undecided as none of the category received more than 50%
score as represented in Table 4.
3.3. Risk management techniques
Risk management means minimising, controlling and sharing of risks rather than merely
passing them on to another party. There are different types of risk management techniques,
such as risk avoidance (prevention), risk retention, risk reduction (mitigation) and retention
and risk transfer.
In the questionnaire, two types of risk management techniques were incorporated to
be considered by respondents using the Likert Scale (1–5), i.e. preventive techniques and
remedial techniques. “1” means the lowest effectiveness and “5” means the highest effect-
iveness. Following a discussion with an industry professional and aiming to ensure ease of
understanding for respondents, six risk management techniques were incorporated into the
questionnaire for each type of techniques.
3.4. Preventive risk management technique
The optimal choice to manage a risk is to avoid it. A risk can be avoided at the planning stage
before the start of a project by incorporating necessary changes stemming from consider-
ation of necessary risks. Preventive management techniques are used during the planning
stage to avoid/minimise a necessary risk by considering it before the start of a project and
planning for it. The data regarding the attitude of the respondents toward the effectiveness
of the considered preventive risk management techniques was collected as well as arranged
in the order of declining effectiveness.
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9. Table 1. Client’s Responsibility
No Risks type
Obtained score
Age responsibility,
AS (%)
Client
Contractor
Shared
Client
Contractor
Shared
1 Risk of defective design R1
68 3 15 79 3 17
2 Risk of funding problems for project R2
77 2 7 90 2 8
3 Delays in obtaining permits R3
50 16 20 58 19 23
4 Delay in availability of drawings R4
75 4 7 87 5 8
5 Risk of change in codes and regulations R5
50 5 31 58 6 36
6 Risk of Changes in scope of work R6
61 6 19 71 7 22
7 Improper scope of work definition in contract R7
50 4 32 58 5 37
8 Payment delays R8
67 5 14 78 6 16
Table 2. Contractor’s Responsibility
No Risks type
Obtained score
Age responsibility,
AS (%)
Client
Contractor
Shared
Client
Contractor
Shared
1 Accidents/safety during construction R9
6 55 25 7 64 29
2 Risk of bad quality material/equipment R10
3 75 8 3 87 9
3 Inaccurate execution plan/schedule R11
4 73 9 5 85 10
4 Risk of insufficient technology R12
6 62 18 7 72 21
5 Theft/robbery of material at site R13
2 77 7 2 90 8
6 Third party delays R14
8 49 29 9 57 34
7 Risk of labor, materials
and equipment availability
R15
2 80 4 2 93 5
8 Risk of labor disputes and strikes R16
0 80 6 0 93 7
9 Poor performance of subcontractor R17
2 80 4 2 93 5
10 Poor coordination with subcontractor R18
4 77 5 5 90 6
11 Risk of defective material from supplier R19
2 77 7 2 90 8
12 Shortage of plant and equipment R20
3 78 5 3 91 6
13 Poor productivity of plant and equipment R21
2 83 1 2 97 1
14 Shortage/delay of material supply R22
2 79 5 2 92 6
15 Lack of qualified staff R23
0 45 41 0 52 48
16 Poor competence and productivity of labor R24
1 82 3 1 95 3
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10. Table 3. Shared Responsibility
S/No Risks type
Obtained score
Age responsibility,
AS (%)
Client
Contractor
Shared
Client
Contractor
Shared
1 Risk of natural disasters R25
30 4 52 35 5 60
2 Delays due to disputes with contractor R26
15 9 62 17 10 72
3 Inappropriate risk allocation in contract R27
27 9 50 31 10 58
4 Risk of exchange rate fluctuation
and inflation
R28
30 11 45 35 13 52
5 Terrorism/war threats R29
25 2 59 29 2 69
6 Adverse weather conditions R30
22 4 60 26 5 70
7 Political instability R31
23 5 58 27 6 67
8 Corruption including bribery at sites R32
5 17 64 6 20 74
Table 4. Undecided Responsibility
S/No Risks type
Obtained score
Age responsibility,
AS (%)
Client
Contractor
Shared
Client
Contractor
Shared
1 Risk of unforeseen site conditions R33
29 16 41 34 19 48
2 Risk of differing site conditions R34
37 14 35 43 16 41
3 Inaccurate estimation of quantities of work R35
28 38 20 33 44 23
4 Inadequacy of insurance R36
17 30 39 20 35 45
5 Delays due to lack of availability of utilities R37
39 19 28 45 22 33
3.5. Remedial risk management technique
Preventive risk management techniques do not eliminate risks; consequently, they can arise
from time to time during the execution of a project and remedial management techniques
need to be used to reduce their effect and eliminate them if possible. In Saudi Arabia,
Assaf and Al-Hejji (2006) found that only 30% of construction projects were completed
within scheduled completion dates with the average time overrun between 10% and 30%.
The questionnaire investigated the perception of respondents toward the significance of
given remedial risk management techniques. The collected and summarized data is given
in Figure 2.
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11. Produce a
proper
schedule
by getting
updated
project
information
Refer to
previous
and ongoing
similar
projects for
accurate
program
Utilize
different risk
analysis
techniques
for accurate
time
estimate
Add risk
premium to
time
estimate
Depend on
personal
jundgment to
produce a
proper
program
Transfer or
share risk
to/with
other party
Preventive risk management techniques
50
40
30
20
10
0
90
80
70
60
AS
age
score
Fig. 2. Effectiveness of preventive risk management techniques
4. Discussion
4.1. Risk significance and responsibility
The significance of the risks was found using the percentage scoring technique already
described earlier in this paper. The results regarding the top 10 most significance risks and
their ultimate responsibilities are discussed in this section.
Payment delays ended up at the top of the list with the maximum percentage score for
significance and the responsibility falling on the shoulders of a client resulting from 78%
response rate. This shows that the maximum delays occurring in construction projects in
Pakistan are due to late payment to a contractor by a client.
Funding problem for projects is the second on the list and the responsibility again goes
to a client with the response rate of 90%. This superimposes the significance of the first risk
that is “payment delays” as the funding problem arises on numerous construction projects
and ultimately contributes toward time and cost overruns.
Accidents/safety are also among the top risks which are mostly ignored in Pakistan but are
themaindelayfactorasperthissurveyandmustbeproperlyaddressed.Theresponsibilitygoes
to a contractor with 64% response rate but in the view of the article authors, a client should
also take this responsibility to improve safety on sites and affecting the projects positively.
Defective design is also the major risk factor as per this survey, securing the 4th position
and responsibility with a client due to 79% response rate. Consequently, steps should be taken
by a client and consultant to work closely and also involving the contractor if the contract
permits to have correct design and avoid problems during the execution of a project.
Inaccurate schedule is also on the top of the list, for which contractor is responsible with
85% response rate. Thus, a thorough study of project and contract documents should be
undertaken by a contractor and different risk factors should be considered for preparation
of an accurate schedule, which can help to avoid time and cost overruns.
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12. Poor performance of subcontractors is also one of the major risk factors and responsibility
lies with a contractor due to 93% response rate as the client has no direct contract with
subcontractors and the responsibility is directly of the main contractor. Efforts should be
made for selection of competent subcontractors with good previous tract record to avoid
this risk.
Exchange rate fluctuation and inflation are also among the most important risk factors
in developing countries such as Pakistan. A mixed response was received regarding this risk
with response rate of 52% for shared responsibility and 35% for client responsibility, which
may be due to the fact that this risk in not under control of any contracting party and very
little can be done to reduce effects of this risk.
Improper scope of work definition in a contract is also important. This risk has a mixed re-
sponse with a client responsibility amounting to 58% of response rate and shared responsibility
securing 37%. This may be due to the fact that although a client is responsible for the scope
of work definition, the contractor should also play its part in thorough understanding of all
contractual documents and clarify any ambiguity that may have negative effects on the project.
Poor quality of materials and equipment are also among the main contributing risk factors
with a contractor allocated responsibility due to 87% of response rate. In most of construction
projects in Pakistan, a contractor is responsible for provision of materials and equipment
and, thus, this activity is under the direct control of contractors.
Shortage/delay of material supply is among the top 10 most significant risks and a con-
tractor is directly responsible for this risk with 92% response rate as supply of materials
in most contracts is the contractor’s responsibility and should be planned accordingly to
avoid this risk.
4.2. Effectiveness of risk management techniques
Preventive management techniques: On the basis of the conducted survey, the top two most
effective preventive risk management techniques are a) production of a proper plan by getting
updated project information and b) referral to previous and ongoing projects for an accurate
schedule. Both of these techniques are pointing toward the preparation of an accurate sched-
ule considering all risk factors by getting updated project information and taking guidelines
from similar projects that gave been already executed or are under execution, so that the
schedule may be feasible. Once all risk factors are considered, there is a high probability for
the project to be completed within the planned schedule.
Remedial management techniques: It is obvious that all risk cannot be managed during
the planning phase and some risks are going to occur during the implementation phase,
for which remedial risk management techniques are required. As per this survey, the two
techniques that are at the top of the list are a) close supervision by subordinates aiming to
minimise unsuccessful work and b) close coordination with subcontractors. These two tech-
niques indicate that good coordination with subordinates or subcontractors is necessary for
a successful project. The likelihood of a project to go out of schedule diminishes provided
there is a close supervision and coordination and all parties work as a single team.
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13. Conclusions
This study describes the way respondents perceive different types of risk particular to con-
struction projects in Pakistan. Out of 37 risks incorporated into the questionnaire, top ten
risks have been highlighted and discussed in detail: a) payment delays; b) project funding
problems; c) accidents/safety during construction; d) defective design; e) inaccurate execu-
tion plan/schedule; f) poor performance of subcontractors; g) exchange rate fluctuation and
inflation; h) improper scope of work definition in a contract; i) poor quality of materials and
equipment; and j) shortage/delay of material supply. In terms of risk responsibility, 6 risks
were allocated to a contractor, 8 – to a client, and 8 – as shared responsibility. Responsibility
of 5 risks was undecided. This shows that a contractor is responsible for most of risks under
his direct responsibility. Those risks which are under direct control of a client were allocated
under a client’s responsibility. Risks that were not allocated to either party, were classified as
shared responsibility.
Regarding the results of data on the effectiveness of risk management techniques, the
preventive technique “the production of accurate schedule by getting updated projected
information and referring to similar projects” gained respondents attention while the most
effective remedial technique was “close supervision and coordination with the contracting
parties”.
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Shahid Iqbal is a PhD student of Civil Engineering at the Faculty of Materials Science and Technology,
Technical University of Freiberg, Germany. He received his MS in Construction Engineering and Man-
agement from the School of Civil and Environmental Engineering, National University of Sciences and
Technology, Islamabad, Pakistan in 2011 and BE in Civil Engineering from the same university in 2006.
He worked at Telenor Pakistan from 2006 to 2012 as the Team Leader of civil works where he managed site
design and different running projects. He is a member of the Pakistani Engineering Council, Islamabad
and a Registered Engineer since 2008. Currently, he is conducting a research study on self compacting
concrete, light weight concrete and fibre reinforced concrete.
Rafiq M. Choudhry, Prof. Dr, Professor of Construction Engineering and Management, Civil and
Environment Engineering, College of Engineering, King Faisal University, Al-Hafuf, Al-Ahsa, Saudi
Arabia and formerly, Professor & Head, Dept. of CE&M, NUST. He is a visiting faculty member of
Bauhaus University Weimar, Germany. He edited a book (ISBN 7-302-13236-4) titled “Global Unity
for Safety and Health in Construction”. He was the guest editor of a Science Direct journal (ISSN 0925-
7535), Safety Science, on “Construction Safety”. He has published 63 papers in refereed journals and
conferences. He is a licensed professional civil engineer in the Pakistani Engineering Council, Islamabad.
He has extensive professional expertise in construction industry for managing projects and for teaching
in project management, construction management, construction safety, risk management, claims and
disputes resolution, and PM training.
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16. Klaus Holschemacher, Prof. Dr-Ing., Dean of the Faculty of Civil Engineering at HTWK Leipzig,
Germany and Professor for Structural Concrete. In 2013, Prof. Holschemacher received the honour doctor
degree of the South West State University Kursk, Russia. He has published more than 200 scientific papers.
Research interests: high performance concrete, fibre reinforced concrete, timber concrete composite,
on-line monitoring, sustainability and more.
AhsanAli, Eng., is a PhD student at the Faculty of Material Science & Technology, TU Freiberg, Germany.
He was awarded a Bachelor’s degree in Civil Engineering from Mehran University of Engineering & Tech-
nology (MUET), Pakistan and MS in Structural Engineering from the National University of Sciences &
Technology (NUST), Pakistan. Besides his job as an Assistant Professor at Quaid-e-Awam University of
Engineering, Science and Technolgy (QUCEST), Pakistan, Engr., Ahsan Ali has also experience of more
than two years as a structural engineer with a consultant firm. His research interests include behaviour of
reinforced concrete and structural elements of fibre reinforced concrete. He is registered as a professional
engineer with the Pakistani Engineering Council.
Jolanta Tamošaitienė, Assoc. Prof. Dr, a Vice-Dean of the Civil Engineering Faculty and employee
of the Dept. of Construction Technology and Management at Vilnius Gediminas Technical University,
Lithuania. Since 2013, she is a member of the Editorial Board of the Journal of Engineering, Project, and
Production Management; since 2011; she is a member of the Editorial Board of the journal Technolo-
gical and Economic Development of Economy. Since 2009, she is a member of EURO Working Group
OR in Sustainable Development and Civil Engineering, EWG-ORSDCE. She has published 50 scientific
papers. Research interests: many miscellaneous management areas (enterprise, construction project, etc.),
risk assessment, construction project administration, building life-cycle, construction technology and
organisation, decision-making and grey system theory, decision making (DM), statistics, optimization,
strategies, game theory, intelligent support system, sustainable development: developing of alternative
construction processes, economic and other aspects, sustainable development challenges for business
and management in construction enterprises, environmental impact processes, etc.
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