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Risk Management of Housing Project


Author(s):

Vyas Nipul D. , L.D.R.P. ITR ; Jitendrasinh D. Raol, L.D.R.P. ITR

Keywords:

Risk management, Housing project, Risk matrix

Abstract:

Construction is high risk activity, risk and uncertainty are inherent in construction projects whether it is building, commercial and industrial or any specialized structure such as bridge, warehouses, water retaining structure etc. today, advanced technology and mechanization has touched all fields of civil engineering and has made the construction process more complex and uncertain. The risks and uncertainties associated with construction projects affects the entire spectrum of project objectives i.e. performance, productivity, profitability and quality. This has stressed the importance of risk management. Risk management applied to each phase of construction project is vital to all parties involved. The aim of risk management is not necessary to eliminate total risk. The presence of risk can be sometimes forces the decision-makers in planning and results into some potential benefits. In addition, the presence of risk increases the amendment to control. This study aims to emphasize on risk management process and considering the specific area of housing schemes. Studying of various risk encounter during the housing project also suggesting appropriate method and technique for the housing project. The methodology for this study include various literature review and information regarding risk management, interview and data collection from the selected sites, analysis and scrutiny of data collected, analysis will be done using risk matrix and other techniques. Conclusion and suggestion will be carried out as per analysis of data.


Other Details:

Manuscript Id :IJSTEV3I9112
Published in :Volume : 3, Issue : 9
Publication Date: 01/04/2017
Page(s): 387-390
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