Call For Paper Volume:4 Issue:10 Oct'2017 |

Risk Management in Road Construction

Publication Date : 10/07/2015

Author(s) :

Nilesh V. Patil , P. G. Gaikwad .

Conference Name :
4th International Conference on Recent Trends in Engineering & Technology(ICRTET-2015) July 2-4,2015 Organized by SNJB's KBJ College of Engineering,Chandwad,Nashik,Maharashtra,India

Abstract :

Risk management is fore sighting the future events and preventing before anything goes wrong. Managing risks in road construction projects is very important process in order to achieve the objectives of project in terms of time, cost, quality and safety. use of expected value method (EVM) to measure risk quantitavely. Risk management in road project deals with risks present with each activity and its possible effect on time and cost of the network prepared. Study deals with identific analysing the same in terms of likelihood, impact and severity. The measurement of risk parameters was based on the response of experts associated with present project and similar road projects. This data was analysed further to determine risk severity of various events at different stages in road project. The base cost and base time of the project is derived from the contract value and schedule prepared respectively. Road construction projects are consi various stages. Road construction has number of active agencies involved which are beyond our control and thus makes it difficult to study network as one. This provides an ideal environment for network and risk management research. Also, road construction projects are commonly studied in management research, and various tools, techniques and methods are used and developed especially for these projects.

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