Professional Documents
Culture Documents
Risk Management in Industry
Risk Management in Industry
MSSI 600
BY:-
Kumar Abhishek
MBA-CPM
(A13559019013)
Section - B
2019 – 2021
School of Construction
RICS SBE
Amity University, Noida
April-June 2020
II
RICS School of Built Environment
DECLARATION
I, Kumar Abhishek hereby declare that the Summer Internship Project Report entitled “A
Study on Risk Management in the Different Phases of a Construction Project” is an
authentic documentation of my own work conceded out as a requirement of “Summer
Internship” report for the grant of the degree of MBA Construction Project Management
from RICS School of Built Environment, Amity University, Noida Sector-125.
I further declare that the work reported in this project has not been submitted and
will not be submitted, either in part or in full, for the award of any other degree or diploma
in this institute or any other institute or university.
Date: 15-04-2020
Kumar Abhishek
MBA CPM
Batch 2019-21
Enrollment No.
A13559019013
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Faculty Guide Approval Page
This is to certify that Kumar Abhishek has completed Industry Training of 8 weeks at
RICS School of Built Environment, at Amity University, Noida sector - 125 under my
guidance.
___________________
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Industry Guide Page
___________________
ACKNOWLEDGEMENT
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Firstly, I am very thankful to RICS School of Built Environment for giving me this opportunity
to undertake this thesis work, A Study on Risk Management in the Different Phases of a
Construction Project.
I would like to express my sincere gratitude to my Advisor Mr. Joseph V Thanikal (Associate
Dean and Director- School of Construction RICS) as he is my primary supervisor mentor and
also, I would like to thank Research associate. Mr. Suhail Khan (secondary supervisor mentor
RICS) who guided and encouraged me all through this thesis work and imparted in-depth
knowledge.
Besides my advisor, I would like to thank Mr. Kumar Deepankar – Industrial guide for their
constant support in completing my thesis work.
My sincere thanks to our librarian for granting me to access online, various journals, research
publications and books available in the library.
I would like to thank the Managers, Engineers and therefore the support Staff working across
the industry who have always extended their warm support and helped me in` every possible
way for the successful completion of my thesis. I would like to thank each one among them.
Last but not the least, I would like to thank my family; my parents for giving birth to me at the
first place and supporting me spiritually throughout my life.
MBA CPM
Batch – (2019-2021)
DATE: 10/06/2020
CONTENTS
ABSTRACT...................................................................................................................................................1
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CHAPPTER 1. INTRODUCTION.....................................................................................................................2
1.1 BACKGROUND.................................................................................................................................2
1.2 OBJECTIVES......................................................................................................................................2
1.3 LIMITATIONS....................................................................................................................................3
2.1 INTRODUCTION...........................................................................................................................4
3.1 INTRODUCTION....................................................................................................................................6
3.2 OBJECTIVE.............................................................................................................................................8
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4.5 DISCUSSION OF RESULT.......................................................................................................................20
4.6 RECOMMENDATIONS..........................................................................................................................21
CHAPTER 5. CONCLUSION.........................................................................................................................22
REFERENCES..............................................................................................................................................23
LIST OF FIGURES
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Figure 2: Participation of overall actors...................................................................................7
Figure 3: Involvement of actors in different stages of the project..........................................8
Figure 4: Different actors given significance of risk management in various stages..............9
Figure 5: shows process of risk management systematically performed by the project
actors........................................................................................................................................10
Figure 6: Identification process in various stages by actors..................................................11
Figure 7: Risk assessment process in various stages by actors..............................................11
Figure 8: shows the response process in various stages........................................................12
Figure 9: Impact of actors on project......................................................................................14
Figure 10: Existence of actors on the process of risk management in project.....................15
Figure 11: Collaboration between actors in various stages...................................................16
LIST OF TABLES
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Table 6. shows process of risk management systematically performed by the actors........10
Table 7. Identification process in various stages by actors...................................................10
Table 8. Risk assessment process in various stages by actors...............................................11
Table 9. shows the response process in various stages.........................................................12
Table 10. Collaboration of project actors...............................................................................12
Table 11. Evaluating of communication power between actors..........................................13
Table 12. Impact of actors on project.....................................................................................13
Table 13. Existence of actors on the Process of risk management in project.......................14
Table 14. Collaboration between actors in various stages....................................................15
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ABSTRACT
“Risks are very mutual now a days in construction activity. Risk is the Prospect of facing
disappointments and the influence on the involved Stakeholders. All projects are integrally risky
because normally we see that they are exceptional, inhibited, composite, based on norms,
hypothesis, and conventional methodology and performed by allied persons due to which project
risk management systems must be fabricated into the administration of projects and should be
used throughout the project cycle. By what means risks are breaks into rations among the actors
involved in a project to a huge scope overseen by the procurement judgement and the gratified of
the related contract papers. Hence, the key issue for the project actors are the assortment of an
applicable project procurements. This learning comprise of the currently performed nine (9)
construction sites among the states of India, on the basis of that questionnaire study has been
preferred as it came out to be the most applicable research method, clients were included in
sample survey, consultants and the contractors playing the key project actors. As the questionnaire
survey is completed, analyses and feedback being used for statistical processing software like
Microsoft excel. Through graphical charts and pie charts results are being executed. The
construction industry acknowledgement for risk related with its project and its range to which the
industry using the risk analysis and management techniques are based on the questionnaire survey
of general contractors and the project management practices. Altogether this study is considered to
conclude that in risk management its censorious to project the risk construction activities that is
declining harms, overlooking and increasing viability. It came out to be known that participants
were being overseen by the actors. The prime key factor of the risk management where all actors
are occupied in the part of development and in the production stage. The risk identification, risk
assessment and risk response were generally accomplished by the client in the production phase.
The procurement and production stages are voted in such a category where joint risk management
was primarily used by all the actors. With reference to overall study I recommend that the
production stage plays a more significant portion in joint risk management”.
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CHAPPTER 1. INTRODUCTION
1.1 BACKGROUND
Risk management (RM) is a principle used in all industries such as the civil construction
business, IT or automation industry. Every industry has a risk management strategy, but the
general concept is the same regardless of the industry. Project Risk Management is one of the
nine main bodies of the Project Commission, citing the Project Management Institute of PMI.
[ CITATION Liv10 \l 1033 ] This shows a deep relation among risk management and
development practice. Though RM is described as an important area of construction
management, but its applications advertise on all projects to minimize its side effects.
One and only idea which is broadly used within the field of RM is called the risk management
process (RMP) and consists of four main stages: identification, assessment, taking action, and
monitoring the risks. At each of these stages, there are various techniques that can help in
managing the risk.
Traditionally, a construction process has split into four main phases: programme, planning,
procurement and production. During the program phase, the clients looks at the project and
analyses the implementation conditions. Inside the procurement stage the parties sign the
contract. After all, the contractor works during the production stage. Depending on the
procurement option, the design stage follows either the programme stage or the procurement
stage. Through the procurement phase, the customer selects the contractor and the parties
sign the agreement. Finally, the contractor implements the task in the production stage.
The key part of the learning is risk management in construction fields implementing different
procurement options. Therefore, this study shows risk management from an integrated
perspective of customers, consultants and contractors and analyse its part in risk management
through the life cycle of the project.
1.2 OBJECTIVES
The motive of this inspection is to monitor the viewpoint of clients, contractors, and
consultants of the risk management practices for a construction task. And examine how actors
are engaged in the risk management for the various stages of projects. So that, the learning
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may establish over the outcomes of the literature search along with the questionnaire review
among the main partners in a construction field. The entire intention for this study is the
statements that interpret the planned objective into logical, functioning statements, and treat
that how the study may be executed.
1. To learn the sharing of risk and its accomplishment in different procurement option.
2. To expand recommendations, which may contribute successful risk management in
the construction projects.
1.3 LIMITATIONS
The research focuses on three main individuals of actors on the supply part of the project, i.e.
clients, contractors and consultants. Individual actors are shown in Figure 1. inside the circle.
Clients’ relationships with project stakeholders on the demand side, i.e. end-users, funding
bodies and authorities, are excluded from the study. Subcontractors are not included in the
study. Project procurement options are limited to those that are mostly used in Sweden:
design-bid-build, design-build, and partnering.[ CITATION Osi08 \l 1033 ]
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1.4 CHAPTER SUMMARY
Stage I, Introduction: This area represents the theoretical framework and clear classification
about risk management.
Stage II, Literature/Review: It deals with former research studies which are reviewed by
various authors for the study and significant improvements in the dome of related research
studies. And also revelled research gap.
Stage III, Research Methodology: This section known as heart of the research. This part
presented the research method. In this, we discussed about how study is accompanied, and
which approach is adopted and implemented in study.
Stage IV, Questionnaire survey and discussion of result: This Section explain about the result
of the questionnaire survey and observed the risk management process in various stages of
the projects. And also discuss the overall result.
Stage V, Conclusion and future scope: These area represents consequences of research study
in construction project management and the future opportunity of it.
2.1 INTRODUCTION
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project performance. There may be prospect of risk as risk and chances were connected.
Better opportunity is obtained by sophisticated risk. Mostly, as risk develop the significance of
the project. Therefore, project advancement must be measured while dealing through the
risks.[CITATION MsM182 \l 1033 ]
This section discusses and conclude about surveys happened in construction risk management:
Alfredo. Federico/et.al., (2014): In every single projects there is PM to handle the project
and main tasks is to manage the risks which happened in project. However, this bond is not
multi-stakeholder and effective unless the risk is well managed after the project starts. An
effective and efficient risk management approach requires a well-organized system, as well as
maximum awareness and participation. This article describes many of the barriers to risk
management in the construction industry through a knowledge-based tactic. An important
result of this research is that risk management in construction developments remains
ineffective due to an absence of consciousness.[ CITATION MsM18 \l 1033 ]
Shahid Iqbal et.al., (2015): Projects are exposed to many risks that can have an undesirable
impact on project goals such as quality, time, and cost. The report predicts survey results
constructed on the risk management questionnaire for structure projects in Pakistan, the
importance of various risks, their ultimate responsibility, and thus the effectiveness of
specialized management techniques within the industry. Two techniques are considered for
risk management: mitigation strategies that can be used to manage the risks that may arise
during project implementation before the project begins; And the use of remedial techniques
used during the implementation phase when an accident occurs. The study has shown that
commercial issues for projects, accidents on site and imperfect design are the prime
noteworthy risks affecting most of the construction projects. As described below, the
contractor must manage most of the risks during the operational phase on site like issues
associated with subcontractors, labor, machinery, availability of resources and class, while the
client is responsible for the risks like financial issues, issues associated with plan documents,
fluctuations in codes and regulations, and scope of labor. The situation validates that the
productions of an appropriate schedule by getting rationalized data of the project and
direction from earlier similar projects are Precautionary risk management methods are very
effective, while project monitoring and close coordination are the most operational remedial
risk management methods. The study recommends the preparation of an accurate schedule
and right coordination during the implementation phase vital as they'll help PM to specialize in
critical areas for improved management of projects in Pakistan.[ CITATION MsM18 \l 1033 ]
5|Page
Amita Pawar et.al., (2017): This article gives an insight into the questionnaire study on public
entrepreneurs and project management systems in Pune, Maharashtra. The Knowledge of the
risks associated with the activities of the project development and thus the level at which the
industry usages risk management and research methods. It concluded that risk management is
important to construction operations to reduce losses and improve profits. The overall
construction risk is viewed as a phenomenon that affects the cost, time and quality goals of
the project. Risk management and identification process in the construction industry depend
heavily on collected data and decisions. Appropriate risk analysis and management procedures
are not used to answer questions about the lack of data for industry applications and the
ability of these techniques.[ CITATION MsM18 \l 1033 ]
To conclude, this section set the background and summarized those problems in the study
area that form a basis for this research. The core part of the learning is risk controlling in
construction fields adopting different procurement options. To the best of the author's
knowledge, the Indian research community has paid relatively little consideration to
understanding the shared role of clients, contractors, and consultants in the risk management
process. A review of the in-depth literature (Tang et al. 2007) shows that international study
projects are also carried out from the perspective of one group of project actors. The review of
all project actors is limited. Therefore, this study analyzes risk management from a common
perspective of clients, contractors, and consultants and also examines its role in risk
management throughout the project lifespan in Indian construction field.
3.1 INTRODUCTION
The study includes nine construction sites recently performed in different states of India,
shown in (Table1). In order to get an accurate image, the projects involved in the study and
meet the following necessities: [CITATION Osi08 \l 1033 ]
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The sites are positioned in Bihar, Jharkhand, Rajasthan and Madhya Pradesh.
Organizational methods and numerous mixture of contracts are used by them, e.g.
Item rate agreements, Lump-sum agreements, public-private partnership prototypes,
performance-based agreements, design and construction contracts, and partnerships.
The project types include the construction and engineering of the water supply.
7|Page
3.2 OBJECTIVE
In order to observe the image of the risk management process from the perspective of
different actors, and the questionnaire is being selected as the most appropriate research
technique. Whereas in all set, I have tried to include the clients, consultants, and the
contractors. And also identify the people working or has worked on risk management on an
assured project. The responders from the client sides are the representative authorization the
contract and the PM. From the perspective side of contractors, the respondents represent the
signing of agreement, site manager, and estimator. At last, from consultant’s side respondent
is the only architect or design director.
Therefore, I had generated a five-part questionnaire set, and all of them are stated below:
The first segment has all the fundamental questions, about respondents whereas the second
segment deals with process and various features of the risk management in various stages of
the projects. The third part examines the relationship among the actors in a project. The
fourth part of the questionnaire talk about the software managing systems that use in risk
management development. The fifth part was the result of several comments on the project
risk management process.
After completing the questionnaire survey, analyse the feedback using statistical processing
software such as Microsoft excel. The results are implemented on graphical charts and pie
charts.
For risk management process, survey method is better and easy to adopt and analyse major
risk occurred on projects.
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CHAPTER 4. RESULT AND DISCUSSION
To work on risk management task 95 questionnaires were directed and 60 responses were
established, foremost to a response percentage of 63.16 %. From the survey responses, 18
were accomplished questionnaires and 42 respondents enlightened the explanations for non-
participations. A response percentage of 20.02% was for those persons that appeared the
feedback task. This indicates that participants who were attentive to the survey aims were
more interrogative about taking role in the projects. Figure 2 shows the survey results
gathered consistent with actor characters within the project.
Client, 11 60 18.33%
Consultant, 23 60 38.33%
Contractor, 26 60 43.33%
Table 2. Participation of overall actors
SAMPLE COMPOSITION
18%
43%
38%
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4.2 ABOUT RESPONDENTS
In a survey output, I found that 54 contributors are men and 6 contributors are women. The
age division shows that 15% members are above 41 years older. Total of 60% members,
43.33% have more than five years’ working experience in construction field, and rest 13.33%
have more than 10 years of working experience in the field. After analysis of result, I found
that 36.66% members participated in risk management process inside their organisations.
Although, a comparatively higher knowledge and large involvement in project, (45%) members
were estimated their knowledge and experience of risk management as fairly. Table3. shows
the knowledge and experience of risk management among actors.
As we could see in figure 3. (35%) of the members were contributed in the production stage
and (57.14%) of members are contractor in production stage. This is very natural for
contractor, as they are still in the production stage and very rarely in the planning stage. As the
project goes forward, the contribution of contractor rises: 8 contractors contributed in the
programme stage and 12 in the production stage. It was a surprisingly that only 4 clients
members in the programme stage as 5 clients in the production stage. It can partially explain
the categories of projects. Civil engineering plans doesn’t have frequently programme phase.
Therefore, many of the people’s showcase their interest as not participating in this stage. 9
consultants contributed in the planning stage and 4 of them participated in the production
stage.
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Project Actors Programme Stage Planning Stage Procurement Stage Production Stage
CLIENT, 4 1 1 5
CONTRACTOR, 8 0 6 12
CONSULTANT, 5 9 5 4
AGGREGATE 17 10 12 21
Table 4. Involvement of actors in different stages of the project
15 12 12
9 10
10 8
5 6 5 5
4 4
5
1 0 1
0
Programme Planning Procurment Production
As we could see in figure4. the accused was asked to assess the rank of risk management at
different stages of the construction field. As we see, the results were parallel in both actors on
the perspective of client and from contractor side. The planning stage and production stages
were recognized as the maximum significant for the risk management. After that the clients
are followed up by the programme and procurement stage, evaluate differently from
consultants and contractors. In general, I noticed that the significance of all stages is
associated to other actors are underestimated by them. However, consultants believe that the
planning and procurement stages are the most significant. From this section, I conclude that
many actors associate risk with planning phases.
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Programme Planning Procurement Production
Project Actors Stage Stage Stage Stage
CLIENT, 2.81 3 2.27 3
CONTRACTOR, 3.11 3.03 2.84 3.30
CONSULTANT, 3.39 3.52 3.17 3.47
Table 5. Different actors given significance of risk management in various stages
0
Programme Planning Procurment Production
As we could see in figure 5, it shows that the risk management process performed properly by
the project actors. The highly active unit is of contractors, whereas the majority of the accused
recognized and evaluated risk and in which 74.00% performed as risk response consistently.
Though, 32% of risk identified by client side, 26.00% of risks are evaluated and 15.00% of
which they are responded to the risk. The low rate risk response is characterized by the aspect
that the client manages former actors with a risk that understands the value chain. And when
it comes for project risk management, the consultants appear to be most passionate about
this. Among them 30.00% where recognized risks and acknowledged consistently, and none of
them seems to assess in the project risk.
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Project Actors Identification of Risk Assessment of Risk Response of Risk
CLIENT, 32.00% 26.00% 15.00%
CONTRACTOR, 60.00% 66.66% 74.00%
CONSULTANT, 30.00% 0.00% 31.66%
Table 6. shows process of risk management systematically performed by the actors
80.00% 74.00%
66.66%
60.00%
0.00%
0.00%
Risk Identification Risk Assessment Risk Response
Figure 5: shows process of risk management systematically performed by the project actors
As per figure 6. risk identification is mostly conducted for production stage and in planning
stage. Risk identified at its earliest age, makes less chances of its occurrence. Despite this
thing, we could find 59 respondents in favour of risk identification performed in the
programme stage, while the major group of clients designate towards procurement stage,
whereas contractors are pointing towards production stage.
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Identification process graph
35 31
30
25 21 22
20
18
20
15 14 14 15
15 11 11 12
7 7 8
10 6
5
0
Programme Planning Procurement Production
As, we could see from Figure 7, it shows risk assessment seems to have similar result as per
identification process. The major segment of members performed it in the Programme stage
and also in planning stage. Although production stage is more significant for process of risk
management as per analyze the result in risk identification stage and risk response stage. This
is as earlier the risk identified is better as their risk premium is calculated in the production
stage, hence it is important.
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Assessment process graph
31
30
21 22
20
20 18
15 14 14 15
11 11 12
10 7 7 8
6
0
Programme Planning Procurment Production
As per results, figure 8 shows that Risk response is connected with production phase. Mostly
the risk is managed in this phase as per clients and contractors. Traditional approach in the
construction industry leads forwards this. Problems are being solved by their appearance as
clients do pay less effort into their projects.
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Response process graph
30 27
25 23
21
20 18 18
15 16 15
14 13
15 12
10 10 9
10 8 8
0
Programme Planning Procurment Production
The collaboration term is a combined work of risk management process, this is what I have
tried to define it through my survey. Majorly member seems to have collaborated in risk
management, with others in project as in numbers – (11 clients, 26 contractors, and 23
consultants). Whereas 15 of the members (05 clients, 09 contractors, and 01 consultant)
responded that they never collaborated for risk management in their project.
The level of communication of familiar risks and opportunities among actors of the
procurement period was represented through table 11. Probably evaluations don’t seem to be
high and it vary between “little detailed” and “fairly detailed”. Clients transmitted known risk
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reasonably as per answered by the contractor as (2.72). On the opposing, clients assured that
they had sophisticated as (3) communication of the known risk.
CLIENT CONTRACTOR
Actors Scale Communication Communication
Little extent 1 4
Some extent 6 4
Client,
Great extent 4 2
Not at all 0 1
Little extent 7 7
Some extent 13 11
Contractor,
Great extent 4 7
Not at all 2 1
Little extent 6 5
Some extent 10 12
Consultant,
Great extent 6 4
Not at all
1 2
Table 11. Evaluating of communication power between actors
Through figure 9. I had tried to represent the respondents, their judgment, and influence of
the other actors regarding risk management in the project. As per the result, it is clearly
visible that consultant had the largest influence on risk management from the client and
consultant perspective. It is fascinating to know that the clients estimate larger influence of
consultants than their own. While contractor influence is even low than of consultant. That’s
why planning phase is examined to be majorly played by all actors.
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Influence of actors
3.81
4 3.63
3.27 3.17
2.81
3 2.53
2.04
2
1.26
1.07
1
0
Influence of client Influence of contractor Influence of consultant/architect
Figure 10. shows the collaboration in the risk response, risk identification, and risk assessment.
Most of the actor’s collaboration existed in the risk identification – 84% clients, 90%
contractors and 74% consultants had collaborated identifying the project risk as per answered
by them.
Clients and contractors collaborated amongst each other, during the process of risk
assessment, whereas collaboration existed as per answered by 27% of the clients.
Contractors stated that risk response process had lower degree of collaboration, with 73% of
them had collaborated proceeding care of risk.
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0.95 0.96
100% 0.9 0.91 0.89
90% 0.84
80% 0.74 0.74
70%
60%
50%
40%
0.27
30%
20%
10%
0%
(RI) (RA) (RR)
Figure 11. represents the various stages of the existence of collaboration in the project. There
was least collaboration in risk management in the Programme phase. The most mobile
participants, 10% of the clients of the Programme phase, responded that collaboration existed
in the phase. Whereas in planning stage, there was 73% of the clients, 64% of the contractors
and 100% of the consultants collaborating in the risk management. Collaboration between the
client and contractors existed only for the half of project in risk management in the
procurement phase. The important stage that is production stage where collaboration is most
concentrated among the actors as there may be other risks that may appear in this stage, and
for achieving a good final result it should be removed.
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98% 100%
96%
100%
89%
90%
80% 73% 73%
70% 62% 64% 65%
57%
60%
46%
50%
40%
30%
20% 10%
10%
0%
Production Procurment Planning Production
In this segment, I discussed about outcomes and progressive aim of future study. The
following are the key observations of this study which are revealed underneath:
We recognized that contribution in the diverse stages of a project was overseen by the
actors’ roles in the development of construction. In general, we saw that all
contractors joined in the production phase and all consultants joined in the planning
stage. Production seems to be the stage were number of respondents took part,
whereas in the procurement stage involvement was extremely low.
The overall study and response of questionnaire reflects that neither be the
contractors and nor be the clients were engaged in the planning stage.
Production stages were Considered as major key factor for risk management in which
all the actors were occupied.
The conclusions of the survey and statics results clarified that the trashes of the actors
in the process of risk management are interrelated to their involvement in the
production stages of a project. Hence, it seems to be that clients usually achieve risk
identification, risk assessment, and risk response during production stage. Besides
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clients and consultants join in procurement and production stage and usually by
contractor.
The procurement and production phases are nominated in such a category where joint
risk management was primarily used by all the actors. With reference to overall study
we recommend that the production phase plays a more significant role in joint risk
management.
Another Part of study deals with Relationship in risk management, and it was assessed
extraordinary by all actors and was most demanding in the Planning Phase.
Assessments of all the actors’ were communication of risks in the known stage are
low. The study replicates that the Relationship among actors was highly strong in the
process of risk response and according to the client, in the process of risk assessment
the scale of partnership decreases largely. This shows that the project’s actors defend
their own contribution and try to handover the identified risks to other one actors.
4.6 RECOMMENDATIONS
I recommend that since planning and other phases seems to be remarkable in risk foundation
construction especially project related therefore consultants need to be involved much more
in project risk management. I might carry out interviews of the actors involved in going
projects in the future and will do survey in large scale. The objective of managing interviews
will be to recognize the possible changes in an outmoded construction operation. And even I
would like to implement some matrix approach to wind up the required factor and reaction of
actors and even their participation in project.
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CHAPTER 5. CONCLUSION
Within the class of quality and price the result that the risk management had on project area
and must be analytical process within all stages in the project. The intension of for this
research was to peek at different stages of risk management in which the actors were involved
in it. For this reason, I had run a questionnaire survey of the clients, contractors and the
consultants. The overall conclusion is that, dependable with all the project actors (client,
consultant, and contractor) the factors of risk management is strappingly accompanying to
the assemblage phase. Most of risk processes are achieved therein phase and contractors tend
to be the primary most active group with an extra-large influence on the Risk management
process. These result findings from feedback data authorise some results of beforehand
conducted surveys. These phase does not show a conclusive role inside the risk management
operation as shown by the compilation of figures and even by statically data, despite of the
standard consequences of the programme and the procurement phase.
REFERENCES
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Anon., n.d.
Iqbal, S., 2015. Risk management in construction projects. ResearchGate, 21(1)(January 2015 ), pp.
65-78.
Koirala, M. P., 2019. Challenges of Affordable Housing Construction. Research Article, 4(April 2019),
pp. 1-7.
Liviu, I., 2010. Best Practices in Project Management. REVISTA DE MANAGEMENT COMPARAT
INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, 11(2010/01/01), pp.
43 - 51.
Lyons, T., 2004. Project risk management in the Queensland engineering construction industry: A
survey. International Journal of Project Management, 22(31-01-2004), pp. 51 - 61.
Miss. Amita Pawar, P. S. P., 2017. Survey and analysis of risk management in building construction
work. International Research Journal of Engineering and Technology (IRJET), 04(04-Apr-2017), pp.
2297 - 2298.
Mohammed Kishk, C. U., 2008. The impact of effective risk management on project success.
Semantic Scholar, Issue 2008, pp. 799 - 808.
Osipova1, E., 2008. RISK MANAGEMENT IN THE DIFFERENT PHASES OF A CONSTRUCTION PROJECT
– A STUDY OF ACTORS’ INVOLVEMENT. Luleå University of Technology, Luleå, Sweden, Issue 2008,
pp. 1-4.
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ANNEXURE l – COPY OF WPRs
WPR 1.
a. Literature Review.
b. Work on Synopsis.
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WPR 2.
a. Objective for the next week is to complete the literature review part so that I can
proceed to work on methodology.
b. In the upcoming week I will compile the summary of all the research paper, analyzing
methodology adopted, comparing the result, working on the future recommendations as
well as the limitation of past researches.
1. Brief study of theory related to the risk management and there all three stages. Name
and their links are:
(Risk management in construction projects: In Perspective view of contractors and owners
https://www.researchgate.net/publication/336846492).
(Process of Risk Management by K. Srinivas. https://www.intechopen.com/books/perspectives-
on-risk-assessment-and-management-paradigms/process-of-risk-management).
2. Completed documentation work of Chapter 1 Introduction part. Introduction of the
topic is:
Risk management (RM) is a theory which is used in all industries, from Civil Construction related
business, IT or Automation industry etc. Each industry has established their own RM principles,
but the overall ideas of the concept usually remain the same irrespective of the area. Conferring
to the Project Management Institute (PMI) (2004), project risk management is one of the nine
most critical parts of project commissioning.
Objective:
The whole intention of this research is to examine the risk management process in a
construction project from the perspective of the client, the contractor and the consultant. In
particular, examine the ways and extent to which the actors are involved in risk management
through the different phases of the project. The study is based on a literature review and the
results of a questionnaire survey of construction project actors. The objectives of the study are
statements that translate the strategic aim into coherent, operational statements and concern
how the study will be implemented.
There are two purposes of this study:
1. To study how risks are shared and accomplished in various procurement options.
2. To develop recommendations, which contribute to more effective risk management in
Construction project.
3. Working on chapter 2 literature review part by studying all the relevant research paper
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related to the past researches related to the topic.
4. Completion of synopsis file.
WPR 3.
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Student Signatures Industry Guide
Signature
WPR 4.
Name: Kumar Abhishek
Enrollment No: A13559019013
Program: MBA (CONSTRUCTION PROJECT MANAGEMENT)
Organisation: RICS School of Built Environment, Amity University, Noida.
Project Description: Risk management in the different phases of a construction project.
Week Number: 4th
Objective of the week beginning to:
Do literature review part summary in sequence date like (2004, 2006, 2009, ....)
Add some research scope and future aspect.
Add some examples of questionnaire in methodology part.
Industry Guide Remarks
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WPR 5.
Name: Kumar Abhishek
Enrollment No: A13559019013
Program: MBA (CONSTRUCTION PROJECT MANAGEMENT)
Organisation: RICS School of Built Environment, Amity University, Noida.
Project Description: Risk management in the different phases of a construction project.
Week Number: 5th
Objective of the week beginning to:
a. Collecting data feedback forms and categorizing the output of question nary.
b. Comparing question nary outputs.
c. Start working on risk analysis and result part after comparing question nary output and
graphical part also.
Introduction:
The study includes nine construction projects recently performed in different states of
India (Table1). In order to obtain an accurate picture, the projects included in the study
satisfy the following requirements:
• The projects are located in Bihar, Jharkhand, Rajasthan and Madhya Pradesh.
• They use different practices of contract and association, i.e. Item rate contract,
Lumpsum contract, some of based on Public private partnership model, performance-
based contracts, design-build contracts and partnering.
• The types of the projects are building and Water Supply engineering.
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Datia, Madhya scheme (71 villages) LUMPSUM 92CRORE
Pradesh
7 Badonkala, Rural Water Supply
Madhya scheme (84 villages) LUMPSUM 120 CRORE
Pradesh
8 Morena, Rural Water Supply
Madhya scheme (34 villages) LUMPSUM 72 CRORE
Pradesh
9 Rural Water Supply
Basai, Madhya scheme (150 LUMPSUM 190 CRORE
Pradesh Villages)
Table shows that Characteristics of construction projects included in the study.
Objective:
As the objective of the study is to get a picture of the risk management process from
different actors perspectives, a questionnaire survey was chosen as the most appropriate
research method. The survey sample comprised clients, contractors and consultants.
Within each group we identified those persons who worked with risk management in a
particular project. The respondents from the client’s side are the representative signing
the contract and project manager. From the contractor’s side the respondents are the
representative signing the contract, site manager and estimator. Finally, the respondent
from the consultant’s side is the architect or design manager.
WPR 6.
Name: Kumar Abhishek
Enrollment No: A13559019013
Program: MBA (CONSTRUCTION PROJECT MANAGEMENT)
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Week Number: 6th
Respondent approach up to 50, to achieve the target and also for compilation of results.
This part is more critical, so identify all risks and show in tabular form.
WPR 7.
Name: Kumar Abhishek
Enrollment No: A13559019013
Program: MBA (CONSTRUCTION PROJECT MANAGEMENT)
Organisation: RICS School of Built Environment, Amity University, Noida.
Project Description: Risk management in the different phases of a construction project.
Week Number: 7th
Objective of the week beginning to:
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compilation.
2. Analysis of result part almost completed.
3. Representation of analysis result through graph and pie chart is being completed as
suggested by industrial guide. Through graph and pie chart, I have showcased the result
as:
Knowledge of risk management.
Risk management in different phases of project.
Importance of risk management in different phases.
Risk management process systematically performed in the project.
Collaboration in managing risk and actors influence on risk management process.
Degree of communication of known risk and opportunities between actors in
procurement phases.
Mention the statistical compilation of collaboration in managing risk and actors influence
on risk management process part.
Compile the respondent feedback against risk assessment process, risk response process,
and risk identification process.
WPR 8.
Name: Kumar Abhishek
Work completed.
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Work Done This Week:
1. Completed chapter 4 – (result part and discussion of result part) and also completed
chapter – 5 conclusion part and abstract part also.
2. As per 22% plagiarism in my report, on the basis of that I have done some changes.
3. Finalized my final report for final submission.
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ANNEXURE ll – RESPONDENT RESULT
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INDUSTRY GUIDE REMARKS
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