STAKEHOLDERS’ RISK ASSESSMENT OF THE INVESTMENT CONSTRUCTION PROJECT

2018 ◽  
pp. 143-148
Author(s):  
Sergey Kolankov ◽  
Nadezhda Rubtsova
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Construction Projects ◽  
Practical Importance ◽  
Business Development ◽  
Risk Characteristics ◽  
Individual Project ◽  
Iso 31000 ◽  
The Given

Objective: To consider the risks both from the viewpoint of potential losses and implementation of extra opportunities. To analyze the aims of investment construction projects being one of the vital risk characteristics, State Standard R ISO 31000–2010. Risk management. Foundations and management. To state the main principles of risk analysis, as well as to perform the assessment of parties of the given process: proprietors (users for the purpose of one’s own requirements), investors, lessees, developers, professional (trust) managers. Methods: The methods of generalization, comparison and economic analysis were applied. Results: The notion of risks, as well as the concepts of risks, connected with a person’s wish to avoid the loss and acquire additional opportunities, was defined; investment construction projects, as well as the notion of “uncertainty” and the process of risk management were described. The classification of risks, their description by the main stakeholders of the investment construction projects was given. Practical importance: The conclusion was made on the appropriateness of detecting possible sources of business development during risk analysis, as well as running investment construction projects, personalization of risks for individual project stakeholders, expert judgement concept of obtained information feasibility on the extent of risk.

scholarly journals Research for Risk Management of Construction Projects in Taiwan

2021 ◽  
Vol 13 (4) ◽  
pp. 2034
Author(s):  
Chien-Liang Lin ◽  
Bey-Kun Chen
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Structural Equation ◽  
Construction Projects ◽  
Construction Project ◽  
Equation Modeling ◽  
Analysis Model ◽  
Sustainable Operation ◽  
Management Procedure ◽  
Risk Managers

Risks inevitably exist in all stages of a project. In a construction project, which is highly dynamic and complex, risk factors affect the expected achievement rates of the three main performance goals, namely schedule, cost, and quality. A comprehensive risk management procedure requires three crucial steps: risk confirmation, analysis, and treatment. Risk analysis is the core of risk management. Through structural equation modeling, this study developed a risk analysis model that takes a different perspective and considered the occurrence probability of risk events and the extent to which these events affect a project. The contractor dimension was discovered to exert the strongest influence on an overall project, followed by the subcontractor and design dimensions. This paper proposes a novel construction project risk analysis model, which considers the entire project. The proposed model can be used as a reference for risk managers to make decisions about project risks, so as to achieve the ultimate goal of saving resources and the sustainable operation of the construction project.

scholarly journals Analisis Manajemen Risiko Menggunakan ISO 31000 pada Smart Canteen SMA XYZ

2020 ◽  
Vol 7 (1) ◽  
pp. 91
Author(s):  
Dewangga Lazuardi Ramadhan ◽  
Ronie Febriansyah ◽  
Renny Sari Dewi
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Business Organizations ◽  
Risk Matrix ◽  
Internal Factor ◽  
Future Event ◽  
Business World ◽  
Event Risk ◽  
Iso 31000 ◽  
A Company

Risk is a danger, the consequences or consequences that can occur due to an ongoing process or a future event. Risk always confronts individuals and various institutions, including business organizations. In the business world, risk can be interpreted as an external or internal factor that can cause uncertainty in the effort to achieve the desired goals. Therefore, we need a management called risk management. Risk management is a process of identifying, analyzing, evaluating, controlling, and trying to avoid, minimize, or even eliminate unacceptable risks. In a company, risk management is a process of planning, organizing, directing and controlling the activities of an organization to minimize the risk of corporate revenue. The application of risk management usually uses ISO in accordance with risk analysis and the area to be focused. The stages of risk management analysis itself are, 1. Risk Collection, 2. Determining Scale, and 3. Risk Matrix. The results obtained from the risk management analysis will be in the form of suggestions, recommendations and mitigations.

scholarly journals Design of Risk Management Based on Iso 31000 in PDAM Tirta Meulaboh

2017 ◽  
Vol 2 (1) ◽  
pp. 21
Author(s):  
Zainal Putra ◽  
Syafruddin Chan ◽  
Moenawar IHA
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Management System ◽  
Risk Identification ◽  
Risk Management System ◽  
Optimal Service ◽  
Iso 31000 ◽  
Potential Risks ◽  
The Impact ◽  
Water Meter

<p>Regional Water Company (PDAM) Tirta Meulaboh is the only state- ownedof West Aceh district that provides clean water for the residents of West Aceh, especially the residents of the city of Meulaboh and its surroundings. But in its operation the company has not yet to have a risk management system, so it has the impact on the company's survival and not optimal service to its customers. The study aims to identify risk, risk analysis and risk evaluation, in order to do prevention and mitigation of the impact of risk on each section in PDAM Tirta Meulaboh using risk management system standard ISO 31000. The process steps of risk management based on ISO 31000, starting from risk identification to methods Risk Breakdown Structure (RBS), risk analysis using matrix risk quantification and Risk Priority Number (RPN), and the evaluation of risks by using risk map. The results showed that in PDAM Tirta Meulaboh there were 43 risk events that have the potential business problems, which if they were not solved immediately it could affect the performance of the company, even the survival of the company. Of the 43 potential risks that were logged to the red zone, there were 5 potential risks which occupies the first rank is on productions departement: the defective of production water meter, the defective of distribution water meter and retrieval water by tank car without through the water meter. Branch Kaway XVI: customers are reluctant to pay the water bill and in IKK Rantau Panjang: water meter of raw water was damaged. The Efforts to mitigate against the risk of those 43 events which were logged in the red zone has not been planned and done yet by the management of PDAM Tirta Meulaboh.</p><p><br />Keywords: ISO 31000, PDAM Tirta Meulaboh, Risk Management</p>

scholarly journals Alternative approach to analysis of risks affecting the efficiency of implementing the investment project in the conditions of global instability of economic space

2020 ◽  
Vol 74 ◽  
pp. 06009
Author(s):  
Liana M. Chechenova ◽  
Natalia V. Volykhina ◽  
Yuriy V. Egorov
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Investment Project ◽  
Management Decision ◽  
Global Instability ◽  
Random Factor ◽  
Economic Space ◽  
Investment Projects ◽  
Expert Assessments

This article is devoted to the study of improving the use of expert assessments for risk analysis, affecting the effectiveness of the implementation of a comprehensive investment project in the global instability of the economic space. The existing methods of expert assessments and Monte-Carlo simulation methods used to identify and assess the risks of investment projects are described. A systematic analysis of the main risks of investment projects in the context of globalization and risk management methods was carried out. The author’s classification of risks of investment projects using the criteria of economic efficiency has been developed. An approach to risk analysis, affecting the effectiveness of the implementation of complex investment projects based on existing methods using the concept of the “reduced” random factor, is proposed. This approach is used to analyse project implementation risks in the conditions of market instability with the development of recommendations for managing the main project risks. The author’s risk classification of investment projects is important at the stage of analysing risks arising from the study of sales markets, as well as during the management decision-making process, which minimizes the possible adverse impact on an organization, including losses caused by random events. The proposed approach can be applied to the analysis, express-analysis and risk management of long-term complex investment projects in the conditions of global instability of the economic space.

scholarly journals Design of Risk Management Based on Iso 31000 in PDAM Tirta Meulaboh

2017 ◽  
Vol 2 (01) ◽  
pp. 21
Author(s):  
Zainal Putra ◽  
Syafruddin Chan ◽  
Moenawar IHA
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Management System ◽  
Risk Identification ◽  
Risk Management System ◽  
Optimal Service ◽  
Iso 31000 ◽  
Potential Risks ◽  
The Impact ◽  
Water Meter

<p>Regional Water Company (PDAM) Tirta Meulaboh is the only state- ownedof West Aceh district that provides clean water for the residents of West Aceh, especially the residents of the city of Meulaboh and its surroundings. But in its operation the company has not yet to have a risk management system, so it has the impact on the company's survival and not optimal service to its customers. The study aims to identify risk, risk analysis and risk evaluation, in order to do prevention and mitigation of the impact of risk on each section in PDAM Tirta Meulaboh using risk management system standard ISO 31000. The process steps of risk management based on ISO 31000, starting from risk identification to methods Risk Breakdown Structure (RBS), risk analysis using matrix risk quantification and Risk Priority Number (RPN), and the evaluation of risks by using risk map. The results showed that in PDAM Tirta Meulaboh there were 43 risk events that have the potential business problems, which if they were not solved immediately it could affect the performance of the company, even the survival of the company. Of the 43 potential risks that were logged to the red zone, there were 5 potential risks which occupies the first rank is on productions departement: the defective of production water meter, the defective of distribution water meter and retrieval water by tank car without through the water meter. Branch Kaway XVI: customers are reluctant to pay the water bill and in IKK Rantau Panjang: water meter of raw water was damaged. The Efforts to mitigate against the risk of those 43 events which were logged in the red zone has not been planned and done yet by the management of PDAM Tirta Meulaboh.</p><p><br />Keywords: ISO 31000, PDAM Tirta Meulaboh, Risk Management</p>

Risk Analysis Using Simulation Software Applied on a Road Infrastructure Project

2018 ◽  
pp. 99-109
Author(s):  
Vijaya S. Desai
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Interest Rates ◽  
Environmental Sustainability ◽  
Construction Projects ◽  
Software Tools ◽  
Accurate Analysis ◽  
Road Infrastructure ◽  
Investment Projects ◽  
Infrastructure Project

Risk management in infrastructure projects has been a very important process to achieve the project objectives, namely: time, cost, quality, safety and environmental sustainability. Huge investments are made in infrastructure construction projects like roads, railways, ports, airports, electricity, telecommunication, oil gas pipelines and irrigation. This growing Increase in investment in infrastructure investment projects demands requires close monitoring of costs to ensure a net return. The evaluation of returns on investment at the conceptual stage plays a vital role in this phase. Software tools help in bringing out near accurate analysis of returns on investments and to support project viability under multiple circumstances. The paper presents an analysis of how software was applied to evaluate and mitigate risk during the case of a six lane road infrastructure project. The unit of analysis was the impact of cost of construction cost, interest rates for loans, methods of depreciation, revenue sharing on various financial indices: IRR, MIRR, DSCR and payback period. The interpretation was that software tools can be used to perform risk analysis, sensitivity analysis and scenario analysis. The case study makes a contribution to the body of knowledge by developing guidelines for using software tools in risk management.

scholarly journals Contract modeling of investment projects in the field of oil and gas construction

2021 ◽  
Vol 266 ◽  
pp. 06001
Author(s):  
A.S. Altemirova ◽  
I.V. Burenina
Keyword(s):  
Risk Management ◽  
Management System ◽  
Construction Projects ◽  
Oil And Gas ◽  
Optimal Contract ◽  
Preliminary Assessment ◽  
Investment Projects ◽  
Risk Management System

The purpose of this article is to select and justify the optimal contract model for one of the largest investment and construction projects of PJSC based on a preliminary assessment of the project under several alternative contracts. To achieve this goal, the following results were obtained: first, a classification of contracts for investment and construction projects (ICP) was developed, adapted to the specifics of the oil and gas business, second, the process steps for planning the contract model of oil and gas construction projects were formed, and third, a conclusion was made about the feasibility of using a particular contract model in terms of the project economy, its timing, the quality of decisions at each stage, and the risk management system.

scholarly journals Safety Risk Management in Dam Construction Projects: Literature Review

2021 ◽  
Vol 2 (1) ◽  
pp. 63-74
Author(s):  
Dinal Aulia ◽  
Lusi Marifah ◽  
Ikbal Yurrazak ◽  
Humiras Hardi Purba
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Risk Factor ◽  
Risk Analysis ◽  
Risk Evaluation ◽  
Construction Projects ◽  
Safety Management ◽  
Technical Factor ◽  
Modern Approach ◽  
Safety Risk

Safety risk assessment in dams is a traditional and modern approach to the engineering process of dams on safety systems so as to produce a design history that has a good overall record and integrity. With this approach for both old and new dams, this safety risk assessment aims to determine whether the risk the hazard can be tolerated or not, if it cannot be tolerated then there must be a solution for action to reduce the risk of danger so that the safety of the dam can be obtained. The existing risk assessment can be used as the basis for the construction of the dam to its maintenance, in this study discussed risk assessment safety on dams located in several countries such as in Asia, Europe and America. The methods implemented include the preparation of safety risks, risk analysis, risk evaluation and safety risk management. Based on research results The main risk factor that causes safety responsibilities is the Contractor's responsibility, namely the Non-technical project factor (40.54%), the 2nd rank is the Undecided Responsibility due to internal technical factors (35.13%), the 3rd rank is the technical project factor namely Contractor's Responsibility (10.8%), Rank 4 is external technical factor and external non-technical factor, the last risk factor is internal non-technical factor (2.7%) namely Joint Responsibility. Keywords : Risk safety management, risk assessment, risk analysis, risk evaluation, dam project

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