Identification of Key Risk Indicators for the Bridge Project and Assessment of their Severity on the Entire Project Life Cycle

Abstract

This paper aims to identify the critical risk factors involved in the execution of a bridge project and their severity on the project life cycle. Since the last decade, investment in infrastructure projects and bridges has significantly increased. Moreover, the rising need for advanced transportation, like the metro project attracts enormous investments in the future. Completing the construction project on time is crucial to avoid cost and time overruns. Additionally, the uniqueness and versatility of the bridge construction process need effective risk management strategies to reduce, and mitigate different risks and achieve project success. The main objective of this paper is to study different risk factors associated with bridge projects and assess their impact and strategies to cope with the risk. A systematic literature review was conducted to identify the critical risk indicators from the different databases, particularly for the execution of bridge projects. A total of 38 risk factors bifurcated into 11 groups were identified to assess the probability of occurrence and impact of the related factor on the project. Further, the questionnaire survey was validated by various construction professionals. The responses were collected from stakeholders like contractors, consultants, and government engineers from Ahmedabad. Based on the impact, a severity rating risk matrix and risk response plan were made for effective risk response. This research work attempts to discover significant risk factors associated with bridge projects out of the identified 38 factors from literature, interviews, and construction industry expert's opinions. The main focus of this study is to find key risk indicators based on their probability and severity. The probability and severity ratings advocate key risk indicators for bridge projects like inaccurate initial surveys, unidentified utilities, and payment delays. This study also demonstrates a risk management plan for effective risk response strategies, particularly for the bridge project. This review article's scope is limited to identifying key risk indicators for bridge projects situated in Ahmedabad, Gujarat, India, and does not cover the risk factors associated with cable-stayed bridges.