A Study On Risk Assessment in The Construction of High-Rise Buildings
A Study On Risk Assessment in The Construction of High-Rise Buildings
A Study On Risk Assessment in The Construction of High-Rise Buildings
Abstract-The construction projects are one of the most important one which plays a vital role in development of the country. It is estimated
that the High-rise (or) multi storey buildings are the most important part of the construction for the greater development. The major part of
the construction leads to high-rise buildings. Hence the risk involved in this part also rates higher in the construction industry. Risks in
construction projects is considered one of the most common problems causing a multitude of negative effects on the construction projects.
Construction risks can be minimized only when their cause are identified. The objective of this study was to study the risk assessment in the
construction of high rise buildings. This study was carried out based on literature review and a questionnaire survey. The data for this study
will be gathering through a detailed questionnaire survey. The questionnaire consists of two sections and first section consists of general
questions, the second section carries the list of major risks and their sub risks. The two sections consist of thirty five risk factors. The
questionnaire form is forwarded to various construction industries through email and in personal. The objectives of the study were
successfully achieved. Totally for ten companies the questionnaires were given, out of which three had an effective reply thus the response rate
is 60% which is considered a good response in this type of survey. This research seeks to identify and assess the risks in high-rise buildings
and improve the risks that occur during the construction of high-rise buildings
INTRODUCTION
project is totally free from risks. If risks are not properly
1.1 GENERAL analyzed and strategies are not trained to deal with them, the
project is likely to lead to failures. In practice, these new rates
The construction industry is the second largest industry of would often be valued after the work was executed based on the
the country after agriculture. It makes a significant contribution actual costs. Clearly, under this approach the employer carried
to the national economy and provides employment to large the major risks of the change. Many new conditions of contract,
number of people. The use of various new technologies and for both building and civil engineering works, have now
deployment of project management strategies has made it introduced a new methodology for valuing variations requiring
possible to undertake projects of mega scale. In its path of the contractor to submit a quotation for the work before the
advancement, the industry has to overcome a number of instruction to proceed is given. This approach shifts the risk to
challenges and risks. However, the industry is still faced with the contractor who has to include in the quotation for all
some major challenges, including housing, disaster resistant, forecasted costs including delay, disruption and risk.
water management and mass transportation. Recent experiences
of several new mega-projects are clear indicators that the Variations are inevitable on building and civil engineering
industry is poised for a bright future. It is the second projects and may range from small changes having little
homecoming of the civil engineering profession to the forefront consequential effects to major revisions, which result in
amongst all professions in the country. considerable delay (or) disruption to the project. There are a
number of reason for the introduction of changes on construction
Construction projects are always unique and risks raises works including:
from a number of different sources. Risk is defined as any action
or occurrence which will affect the achievement of project Inadequate briefing from the client
objectives .Risk management is a technique which is used in Inconsistent and late instructions from the client
many other industries from, IT related to business, automobile, Incomplete design
pharmaceutical industry, to the construction sector. Risks and Lack of meticulous planning at the design stage
uncertainties inherent in the construction industry are more than Lack of co-ordination of specialist design work
any other industries. Late clarification of complex details
Additionally on civil engineering works there are many
Many industries have become more proactive about using
cases where changes and new rates are necessary because of the
risk management techniques in project. However, with respect to
nature of the ground. Furthermore changes may occur due to the
the construction industry, the same is not used commonly. Risk
client‟s desire to incorporate the latest technology into the
is an integral component of any project. Risk is present in all
project which will led to deviations of time and cost of the
projects irrespective of their size or sector. No
project which indicate the risk in the project.
CONCLUSION
4.5 MANAGING PROJECT RISKS
According to the methodology, the literature has been
reviewed from the various journals and different papers
Allocate risk responsibility to parties who have power &
regarding risk assessment in the construction industry. The risks
capability to best manage them.
factors are identification based on the literature collected and
Provide cost cushion for risks which cannot be allocated by consulting the experts, based on this the questionnaires were
to others. prepared. Totally for ten companies the questionnaires were
To the extent of non-allocation of risks the project will given, out of which three had an effective reply. Thus the
become costlier and tariff higher to make the project response rate is 60% which is considered a good response in
bankable for sponsors and lenders. this type of survey. In those three companies surveyed, all the
Install risk management mechanism to fulfill risk questionnaire survey was done from project manager, project
management needs of lenders engineer and other concerned engineers at the site. According
to them the major part of risks in high-rise buildings are caused
4.6 DIFFERENT METHODS OF RISK IDENTIFICATION due to technical, financial, physical and constructional
Risk break down structure problems
Knowledge of the project
Discussion with the experts As far as the engineers concerned Lack of
RESULTS AND DISCUSSION knowledge of arbitration has the maximum risk rating and
other risks are material shortage, shortage in supply of
electricity, poor quality of procured materials, loss due to
5.1 RESULT ANALYSIS fluctuation of interest rate, accident in site sub-contractor
related problems, error in drawings, improper verification of
contract documents, and competition from other companies.
The least risk rating given by project engineer is
environmental risk, relation with government departments,
local protectionism and industrial disputes.
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