Review on Potential Risks in Construction Process

Abstract

Abstract: Risk assessment is an important part of project management in the construction industry. It includes identifying, identifying and mitigating risks that may affect project objectives. This article provides an overview of the various risk assessment methods used in the construction industry, from quantitative to fuzzy methods. This study introduces validation methods such as Monte Carlo simulation, sensitivity analysis, critical path analysis, fault tree analysis, tree analysis and failure models, effects and critical analysis. These versatile methods provide an overview of the likelihood of their occurrence and its impact on the objectives of the project, making them effective tools in the field. In addition, the article explores the idea of turbidity as a way to quantify the quality of certain risks in underground construction projects. Legislative frameworks and tools for assessing land development related issues that offer new solutions for risk management in complex situations are also discussed. Analysis pointed out that there is no single method of risk assessment that concerns all organizations and activities. In summary, risk assessment plays an important role in construction decision making, resource allocation and the development of risk mitigation strategies. Continuous research and development in this area will further refine and improve the risk assessment method, resulting in the overall success and sustainability of construction.