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Identifying and Analysing Key Factors Associated with Risks in Construction Projects
https://orcid.org/http://orcid.org/0000-0002-6959-0008
The construction industry has a fragmented nature associated with it. It is necessary to identify the impact of the key factors associated with risk on construction projects so that the timely alternatives or solutions could be taken to avoid them. The objective of the paper is to identify and analyse the various risks factors globally associated with construction projects. In this, the risks factors in the international construction sector were compared to the Indian industry of construction, in order to find out the similar risks globally. The methodology adopted for the study is to review the previous year’s research papers for the international industry of construction and Interview of a construction company in India and after analyzing the data the common risks in both the industry were found. It is concluded that the retention good quality of labourers has the highest impact globally in the construction sector. The categories of risks related to clients, subcontractors, finance, contractors and government were found common. The appropriate management plan for risks in construction should be implemented right from the beginning of the project in order to minimize its impact and proper solution or alternatives could be taken accordingly at each and every stage of the project. One of the solutions to transfer risk in this sector is by taking appropriate insurance policy for the project.
Identifying and Analysing Key Factors Associated with Risks in Construction Projects
https://orcid.org/http://orcid.org/0000-0002-6959-0008
The construction industry has a fragmented nature associated with it. It is necessary to identify the impact of the key factors associated with risk on construction projects so that the timely alternatives or solutions could be taken to avoid them. The objective of the paper is to identify and analyse the various risks factors globally associated with construction projects. In this, the risks factors in the international construction sector were compared to the Indian industry of construction, in order to find out the similar risks globally. The methodology adopted for the study is to review the previous year’s research papers for the international industry of construction and Interview of a construction company in India and after analyzing the data the common risks in both the industry were found. It is concluded that the retention good quality of labourers has the highest impact globally in the construction sector. The categories of risks related to clients, subcontractors, finance, contractors and government were found common. The appropriate management plan for risks in construction should be implemented right from the beginning of the project in order to minimize its impact and proper solution or alternatives could be taken accordingly at each and every stage of the project. One of the solutions to transfer risk in this sector is by taking appropriate insurance policy for the project.
Identifying and Analysing Key Factors Associated with Risks in Construction Projects
https://orcid.org/http://orcid.org/0000-0002-6959-0008
The construction industry has a fragmented nature associated with it. It is necessary to identify the impact of the key factors associated with risk on construction projects so that the timely alternatives or solutions could be taken to avoid them. The objective of the paper is to identify and analyse the various risks factors globally associated with construction projects. In this, the risks factors in the international construction sector were compared to the Indian industry of construction, in order to find out the similar risks globally. The methodology adopted for the study is to review the previous year’s research papers for the international industry of construction and Interview of a construction company in India and after analyzing the data the common risks in both the industry were found. It is concluded that the retention good quality of labourers has the highest impact globally in the construction sector. The categories of risks related to clients, subcontractors, finance, contractors and government were found common. The appropriate management plan for risks in construction should be implemented right from the beginning of the project in order to minimize its impact and proper solution or alternatives could be taken accordingly at each and every stage of the project. One of the solutions to transfer risk in this sector is by taking appropriate insurance policy for the project.
Identifying and Analysing Key Factors Associated with Risks in Construction Projects
Lecture Notes in Civil Engineering
Babu, K. Ganesh (editor) / Rao, H. Sudarsana (editor) / Amarnath, Y. (editor) / Dixit, Saurav (author) / Sharma, Kaaraayaarthi (author) / Singh, Subhav (author)
2020-01-12
8 pages
Article/Chapter (Book)
Electronic Resource
English
Risk factors , Construction projects , Construction productivity , Project management , Construction management Engineering , Building Construction and Design , Geoengineering, Foundations, Hydraulics , Solid Mechanics , Waste Water Technology / Water Pollution Control / Water Management / Aquatic Pollution
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