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Introduction
Cost
Success
Project Constraints
Quality
Time
Introduction
Cost overrun
Risks
Poor Quality
Project Constraints
Delays
What is a Risk?
Risk
endeavor
action
Risks in Construction
Economic Factors
Client
Social Factors
Contractor
Supplier
Architect
Engineer
Inspector`
Political Factors
Syed M. Ahmed, Ph.D.
Department of Construction Management
Environmental Factors
Risks
Political & Environ. Design Const. Related
Acts of God
Flood Earthquake
Risks
Political & Environ. Design Const. Related
Landslide
Fire
Wind damage
Physical
Damage to structure Damage to equipment Labor injuries Fire Theft
Risks
Political & Environ. Design Const. Related
Risks
Political & Environ. Design Const. Related
Financial default
Risks
Political & Environ. Design Const. Related
Design
Incomplete design scope
Risks
Political & Environ. Design Const. Related
Construction Related
Labor disputes Labor productivity Different site conditions Design changes
Risks
Political & Environ. Design Const. Related
Equipment failure
Risk Management
A systematic approach to control the level of risk to mitigate its effects.
Risk RiskIdentification Identification Risk RiskMonitoring Monitoring Controlled Risk Environment Risk RiskResponse Response Risk RiskEvaluation Evaluation
Risk Analysis
Risk Analysis
Estimating the potential impacts of risk to decide what risks to retain and what risks to transfer to other parties
Risk Analysis Techniques
Quantitative
Probability analysis
Sensitivity analysis
Qualitative
Ranking options Comparing options Descriptive analysis
Simulation techniques
Risk Response
Risk Response Methods
Elimination Transfer Retention Reduction
Risk Response
Risk Response Methods
Elimination Transfer Retention Reduction
Risk Response
Risk Response Methods
Elimination Transfer Retention Reduction
Risk Transfer
Two basic forms. (a) The activity responsible for the risk may be transferred, i.e. hire a subcontractor to work on a hazardous process (b) The activity may be retained, but the financial risk transferred, i.e. methods such as insurance.
Risk Response
Risk Response Methods
Elimination Transfer Retention Reduction
Risk Retention
Handling risks by the company who is undertaking the project.
Risk Response
Risk Response Methods
Elimination Transfer Retention Reduction
Risk Reduction
Continuous effort.
Related with improvements of a companys physical, procedural, educational, and training devices.
Improving housekeeping, maintenance, first aid procedures and security. Education and training within every department .
Thank You
Syed M. Ahmed, Ph.D.
Department of Construction Management