Risk Factors In Construction Projects Research Articles

Safety risk factors comprehensive analysis for construction project: Combined cascading effect and machine learning approach

The analysis of safety risk factors in the process of construction project management has strong subjectivity and locality, which fails to fully mine the valuable information contained in heterogeneous data. Consequently, the purpose of this paper is to develop an integrated analysis framework (IAF) to identify and evaluate potential risk factors in construction projects. In this framework, machine learning is used to mine safety risk factors from heterogeneous data, and the initial importance of risk factors is calculated based on two judgment categories. Meanwhile, the concept of cascading effect is introduced to establish an activity-on-the-node (AON) network to furtherly evaluate the negative impact of risk factors on project safety. The case study results show that machine learning can more efficiently mine the associated risk factors and effects with cascading failures, which indicates that the data-based safety risk factor analysis is more objective and accurate.

Influencing Risk Factors in Construction Projects based on Time and Cost Overrun

The development business is considered as a standout amongst the essential ventures everywhere globally since it is the foundation of the economy of our nation. It recognized that a large portion of the development extends in India presented to cost and time overwhelm that isn't attractive. In the development ventures, there are such a large number of exercises to be tended to like asset activation, coordination, time the board, and material administration to finish the task on time inside the allotted expense. It comprehended that each action should be observed and ought not to permit slack anytime. Be that as it may, in the present situation, a lot of studies should be done to streamline the exercises to complete a gainful task. In the development business, it is essential to have control of the cost execution of activities to guarantee the development cost is inside the spending limit. Cost and Time are among the real thought all through the undertaking course of stages and can see as the most significant variables of a venture and the main impetus of task achievement. In this investigation, chance variables related to development ventures have recognized, and furthermore, the seriousness of the risk has additionally dissected, and the solid outcomes have examined. This investigation comprises of three stages: The main period of the venture is gathering sorts of writing universally and discover the effectively recognized risk factors in this specific southern region. The second stage incorporates the survey plan for the recognized risk components and circulation of polls to neighbourhood contractual workers, advisors, proprietors and every single other partner of the task. The third period of the proposal concentrated on information examination and result talk. SPSS programming had been utilized for examining the information procured from the surveys. From this examination, it was fathomed that the peril earnestness changed in low and high spending improvement adventures. The thinking which ought to be grasped for managing the risks perceived for low and high spending errands has been discussed and reasoned in this examination.

Critical Risks in Construction Projects in Ethiopia

Construction management is a very important process in order to achieve the objectives of every project in terms of time, cost, quality, and insured safety. But most recent studies most researchers have been focusing on the management of risks rather than identifying the critical risks involved in construction projects. This paper aims to identify the major risks associated with construction projects that expected to affect project performance during the project life cycle in Ethiopia. Various risk factors in construction projects were identified from the literature. Questionnaire survey and interview method was used to collect data from the respondents. The relative importance index (RII) was used for data analysis to identify the major variables. Based on the analysis of the likelihood of occurrence of the risks, this paper identified the critical risks in construction projects in Ethiopia. The research found that the critical risks were mainly unforeseen site conditions, improper design, incomplete contract documents, inflation, lack of timely decision making, scope change, political instability, payment delay, lack approvals, corruption, and poor contract administration. Finally conclusions made from the finding and recommendations forwarded to minimize risks in construction projects.

CHARACTERISING BIM-BASED CONSTRUCTION PROJECTS: A STRATEGIC AND CONTINGENT BIM APPLICATION MODEL

BIM application on construction projects is a potential risk that must be managed. Risk factors in construction projects will also increase with the extent of BIM application due to the challenges associated with BIM application. Managing the risk of BIM application on projects and the realisation of BIM value depends on the appropriate use of BIM. Several studies have identified the balance between BIM value, project characteristics, and BIM application as a way of mitigating the risk of BIM application on projects. However, frameworks or models providing the balance between the BIM value, project characteristics, and BIM application are scarce. Hence, using a meta-synthesis of relevant studies, this study proposes a strategic and contingent BIM application model for construction projects. The strategic part of the model entails the determination of BIM value and BIM effectiveness on a construction project by using appropriate BIM tools and processes for the project. The contingent part of the model involves the use of project complexity to determine the project expectations. The model turns into a strategic and contingent application of BIM on construction projects by matching the extent of BIM application to the level of project complexity. The model presents unique attributes for characterising BIM-based construction projects and provides a guide and research focus for case studies of BIM-based construction projects. Also, the model will make it easier to plan and manage BIM-based construction projects as well as enable a widespread application of BIM tools and processes.

Risk Factors in Construction Projects during Unrest Period in Yemen

Risk Factors in Construction Projects during Unrest Period in Yemen

Key risks in construction projects in Italy: contractors’ perspective

PurposeRisks play an important role in the success of construction projects. Failure in identification and assessment of risks can lead to inadequacy in the process of managing risks, which in turn can critically affect the projects’ resources. A formal risk management is rarely practised in construction projects due to the lack of contractors’ awareness of key risks. The purpose of this paper is to focus on the investigation of risk factors in construction projects in Italy from contractors’ perspective.Design/methodology/approachSemi-structured interviews were conducted to collect data, based on which a total of ten key risks were ascertained. The identified risks were compared with the findings of the surveys conducted in the Australian and Chinese construction industry to address the unique risks associated with construction projects in Italy.FindingsThe key risks included delays in payments, client variations, design variations, inaccurate cost estimates, and tight project schedules. The comparison between those three countries specified the delays in payments and project funding problems as the most critical factors that are related to cultural influences and behaviour of clients. The findings assist contractors in the risk identification process, and can be applied to the development of a risk management framework for construction projects.Research limitations/implicationsThe findings of this study cannot be generalised statistically for the whole of Italy as it was constrained geographically, with respondents drawn only from a self-selection sample of construction projects in the Veneto region of Northern Italy. The findings represent a snapshot of the key potential internal and external risks from the perspective of contractors.Originality/valueThe results of the study specified the key risks of construction projects from the perspective of contractors which can contribute to risk management for construction projects.

Financial Risk Estimation in Construction Contracts

Risk, as a factor adversely affecting the project, is taken into account as early as at the first stage of the investment process when the tender is won for a contract. The risk level, identified for a particular construction contract, is a serious factor influencing the decision about accepting the contract or not. The key issue is proper identification of contract risk. The risk factors which have a significant impact on the success of the project, and are most common ones, are then analyzed. The method of verification depends on the company's experience in the construction industry. The task of the article is to present the results of studies focused on separating and determining the frequency of financial risk factors in construction projects and their impact on project implementation. We have analyzed 30 construction projects (office buildings, production halls, educational buildings, demolition works, etc.) completed in north-western Poland. The degree of risk (planned and real) for the contract was set as a percentage in relation to the size of contract (costs in million PLN). The aim of the study was to verify the existence of relationship between the kind of structure, the size of contract, and the scope and degree of risk. Statistical approach has been used. This study is a prelude to determining the contract risks identification procedure (i.e., estimating reserves to be used in unforeseen circumstances) so that the company could be competitive, and the price offer to be provided to investors could be advantageous.

Frequency Analysis of Genesis Risk In Construction Projects

Contractor as general constructions supervisors face risk factors that could affect performance and hinder the success of a construction project. Many contracting companies along with the advent of growing development in Banda Aceh to make the contractor should be able to maintain its performance in order to compete with other contractors. The subject matter and the question in this study are what the risk factors that can affect the performance of the contractor Banda Aceh in the implementation of construction projects. The purpose of this study to identify risk factors that have a frequency of occurrence is very frequent in the implementation of construction projects in Banda Aceh experienced contractor in the execution of construction projects in the province of Aceh. The scope of this research is limited to the risks accepted by the contractor Banda Aceh Non-small qualification (qualifying grade 5) in carrying out construction projects. Risk factors reviewed is a risk factor in the implementation of construction projects in general. The collection of primary data collected through the distribution of questionnaires to the respondents that the small non-qualified contractor who lives in Banda Aceh. As for the secondary data such as the names of the contracting company based in Banda Aceh. Data processing is done by the analysis of test reliability, frequency analysis and frequency analysis of the index. Data processing is done by statistical methods and computational tools utilizing the software Statistical Package for Social Sciences (SPSS 16.0 for Windows) and Microsoft Excel. Based on the analysis of the frequency index gained 10 key risk factors that have a frequency of occurrence is very common in the implementation of construction projects in Banda Aceh experienced contractor in the execution of construction projects. Banda Aceh is one of the cities in the province of Aceh in Indonesia, which is undergoing rapid development growth progress. This can be seen by many developing or the emergence of efforts in the field of construction industry, both corporate contractors (contractor) and corporate planners and construction supervisor (consultant). Performance contracting is a result of work is achieved by the contractor in executing a construction project. Performance is based on skills, experience and sincerity, and the time, as compared to predetermined targets. If a construction project a success then it could be said that the performance of the contractor in the execution of the project well and vice versa. Risk factors in construction projects can arise from a variety of sources, and vary both in the likelihood and the impact on the success of the construction project. In order to carry out the construction projects on time according to the schedule, the contractor managing the construction in general will face the risk factors that can hinder the success of the construction project and affect its performance. In this study, the research object is the contractor Banda Aceh, which are at issue and the question in this research is the key risk factors that may affect any contractor performance Banda Aceh in the implementation of construction projects. The purpose of this study was to identify risk factors that have a frequency of occurrence is very frequent in the implementation of construction projects experienced by the contractor Banda Aceh in the implementation of construction projects in the province of Aceh. The scope of this research is limited to the risk factors who received non-small contractor qualification (qualifying grade 5) in carrying out construction projects in Banda Aceh. These risk factors are reviewed is a risk factor in the implementation of construction projects in general. The research method used is through several stages, starting with the formulation of the problem, the study of literature, primary data collection and secondary data collection, data processing using statistical software, and data analysis and discussion. In order to achieve the intended objectives, it is necessary primary and secondary data. Primary data was collected through the distribution of questionnaires, the respondents is the non-qualifying small contractors who live in Banda Aceh. Secondary data such as names of contractors who are registered as members of the association GAPENSI (Joint Managing Construction in Indonesia). Data processing is done by the analysis of test reliability, frequency analysis and frequency analysis of the index. Data processing is done by statistical methods and computational tools utilizing the software Statistical Package for Social Sciences (SPSS 16.0 for Windows) and Microsoft Excel. Based on the index value frequency is the objective of this research have been achieved with the acquisition of 10 (ten) risk factors that

Perception of human risk factors in construction projects: an exploratory study

This paper describes how construction practitioners perceive risk management and in particular human risks factors. For this purpose, a short questionnaire was designed and used in personal interviews with construction practitioners. Currently risk management has been commonly applied across the construction sector, however it very rarely includes the effects of human factors. This paper identifies that human risks factors are, according to the respondents, the most influential construction risk, and stresses the need to incorporate human risk factors into project risk management. The findings of this research will form the basis for an extended investigation which aims to identify and model human risks factors that influence construction project procurement.

Controlling risk factors in construction projects.

Journal of Healthcare Risk ManagementVolume 12, Issue 4 p. 43-46 Article Controlling risk factors in construction projects James I. Markancek Csp, James I. Markancek Csp Loss Control Consultant O'Rourke, Andrews & Maroney, Inc., Fort Wayne, INSearch for more papers by this author James I. Markancek Csp, James I. Markancek Csp Loss Control Consultant O'Rourke, Andrews & Maroney, Inc., Fort Wayne, INSearch for more papers by this author First published: Autumn (Fall) 1992 https://doi.org/10.1002/jhrm.5600120410AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinked InRedditWechat Volume12, Issue4Autumn (Fall) 1992Pages 43-46 RelatedInformation