scholarly journals The Effect of Risk Management at Project Planning Phase on Performance of Construction Projects in Pakistan

2021 ◽  
Vol 7 (1) ◽  
pp. 69-79
Author(s):  
Muhammad Huzaifa Butt ◽  
Shahid Iqbal ◽  
Muhammad Abubakar Saddique ◽  
Hamza Shahid
Keyword(s):  
Risk Management ◽  
Construction Projects ◽  
Positive Influence ◽  
Project Planning ◽  
Undesirable Effect ◽  
Planning Stage ◽  
The World ◽  
Financial Plan ◽  
Management Plans ◽  
Management Method

In Project Management field “Risk management” has been known as the best and most imperative exercise for the accomplishment of virtuous enactments of the construction projects in Pakistan. Achievement of requisite objectives in construction projects as enumerated by getting its recital in relationships of Project Quality, Project Cost and Project Time in protection of sustainability areas. Construction development improvements in Pakistan, by and large in the territory and the world have a high risk/danger of being definitively late and over financial plan. Whereas a bit of schedule and cost related risks are inevitable in any construction project around the whole world, it is likely to improve risk management plans to diminish their undesirable effect and make the most of positive influence. This research/investigation indorses a very good and systematized risk management method throughout planning stage of the project and with the contribution of construction specialists, end users and engineers.

scholarly journals The Assessment of Risk Management & Engineering Management Practices at Project Planning Phase on Performance of Construction Projects

2020 ◽  
Vol 6 (4) ◽  
pp. 1365-1375
Author(s):  
Shahid Iqbal ◽  
Nabeel Ehtisham ◽  
Syed Farqaleet K. Bukhari ◽  
Shahid Mahmood
Keyword(s):  
Risk Management ◽  
Site Selection ◽  
Construction Projects ◽  
Management Practices ◽  
Construction Project ◽  
Engineering Management ◽  
Project Planning ◽  
Project Managers ◽  
Planning Stage ◽  
The World

Project Risk management is known as an important workout for the achievement of desired objectives for the construction projects. Success in construction project is quantified by attaining its enactment in terms of project quality, project cost, project time, project safety. Construction projects in Pakistan, typically in the whole world have a high risk of being pointedly late and over budget. However, a bit of schedule and cost related risks are unavoidable in any construction project around the world. It was found out that the engineers were generally nominated earlier the design phase of any project. Due to this reason maximum projects did not get the advantage from SMEs at the planning stage of the project. This study also supports that project managers who are engineers be involved in construction projects site selection, in preliminary budget and schedule development by using good Engineering Management Practices.

scholarly journals Examining the Values and Principles of Agile Construction Management in Iraqi Construction Projects

2018 ◽  
Vol 24 (7) ◽  
pp. 114
Author(s):  
Sawsan Rasheed Mohammed ◽  
Asmaa Jebur Jasim
Keyword(s):  
Project Management ◽  
Construction Industry ◽  
Construction Projects ◽  
Relevant Literature ◽  
Construction Project ◽  
New Methods ◽  
Agile Project Management ◽  
The World ◽  
Management Method ◽  
The Cost

The avoidance of failure in construction projects is not an easy task, which makes the failure of the construction project to achieve its objectives a major problem experienced by all countries in the world, especially Iraq. Where nearly two-thirds of the construction projects in the world have been suffered by significant problems as an increase in the cost of the project, delay in the specified duration for execution, and stopping the project. Therefore it is required to study and apply new methods for managing the construction project to ensure its success and achieve its objectives. The aim of this study is to study the Agile project management method and its impact on the construction project. In addition, to identify the values and principles of Agile project management, which can be applied in the Iraqi construction industry to be adopted it as a new method to manage the construction projects in Iraq. The researcher reviewed the relevant literature to define the method of Agile project management and its methods and impact on the construction project. Then, the researcher conducted a questionnaire survey of a sample of engineers' experts who work in four main parties in the construction project: (beneficiary, supervising, designer, and contractor). The results of this survey showed that it is possible to apply the four values of Agile project management for managing the Iraqi construction projects, and can apply eleven of the twelve principles of Agile project management for managing the Iraqi construction projects.  

scholarly journals Investigating the Factors Affecting Delays in Infrastructure Projects

2021 ◽  
Vol 11 (4) ◽  
Author(s):  
Anurup Kakkar ◽  
Prakhar Duggal
Keyword(s):  
Risk Management ◽  
Construction Industry ◽  
Construction Projects ◽  
Infrastructure Projects ◽  
Public Infrastructure ◽  
Factors Affecting ◽  
The World ◽  
The Mean ◽  
Mean Time ◽  
Management Issues

Time and expense overruns are regular occurrences in the construction industry all around the world but these are a major concern in developing countries such as India, and their consequences can be extremely harmful when public infrastructure projects are concerned. In India as per the MoS & PI report, as of October 2019, there were 552 delayed construction projects, and the mean time overrun in these 552 delayed projects is29.07 months. Many studies in the literature review previously, have concentrated on a variety of infrastructure risk management issues but there have only been a few studies that have looked into the overall dynamics of infrastructure and how a project's timeline can be affected by changing risk interactions. This article aids in the investigation of the variables and causes of construction delays in infrastructure projects.

scholarly journals Risk Management Model using Cause and Effect Analysis in Industrial Building Project

2021 ◽  
Vol 8 (8) ◽  
pp. 227-235
Author(s):  
Oki Oktaviani ◽  
Budi Susetyo ◽  
Bambang Purwoko Kusumo Bintoro
Keyword(s):  
Risk Management ◽  
Construction Projects ◽  
Management Model ◽  
Industrial Building ◽  
Effect Analysis ◽  
Planning Stage ◽  
Cause And Effect Analysis ◽  
Potential Risks ◽  
Professional Practitioners ◽  
Building Project

The purpose of this study is to determine the main potential risks that occur in the design planning stage of a construction project, especially in an Industrial Building project. Based on the available literature and the experiences of other authors and practitioners, a list of potential risks was developed. Risks events were initially categorized into technical, project management, commercial and external categories. Risks are evaluated by professional practitioners who have experience in construction projects. The evaluation includes the expected likelihood of the event and its impact on changes in scope of work. This study considers each risk among owners, consultants, contractors and others. The data collected were analyzed qualitatively and quantitatively to assess the severity and impact of the event. The recommended responses to major risks are introduced in this study. Keywords: risk management model, planning stage, industrial building.

INFLUENCE OF PROJECT PREPARATION QUALITY ON THE PROJECT OUTCOME: A QUALITATIVE APPROACH

2019 ◽  
Vol 6 (1) ◽  
Author(s):  
Christian Hofstadler ◽  
Markus Kummer
Keyword(s):  
Construction Projects ◽  
Early Stage ◽  
Quality Standards ◽  
Project Planning ◽  
Qualitative Approach ◽  
Management Planning ◽  
Planning Stage ◽  
Project Outcome ◽  
Project Phases ◽  
Project Lead

To achieve the targets of all project key stakeholders, construction projects, in particular, require sufficiently long preparation and execution periods that go beyond ensuring project break-even. Assessing the break-even, or commercial viability, of a project directly depends on its complexity and underlying conditions. Time and funds are necessary to achieve a sufficiently high quality in construction project management, planning, and specification. At the project planning stage, the budget associated with specific use requirements should be calculated whilst also determining the quantities and quality standards achievable within a pre-defined budget. To successfully plan and execute construction projects, it is crucial to identify available resources in terms of funds and time in advance, thus making it possible, at a very early stage, to strike a realistic balance between the (financial) project targets and the available budget. If these targets exceed the budget, works are often specified incompletely, or specified quality standards are lowered with a view to arrive at lower costs in early project phases in order to ensure that the required permit is issued. This paper adopts a qualitative approach to highlight the influence of project preparation (i.e. project lead time and project preparation budget) on achieving the client's/owner's project targets.

Measuring risk management performance within a capital program

2014 ◽  
Vol 12 (2) ◽  
pp. 158-171 ◽  
Author(s):  
Anthony J. Perrenoud ◽  
Brian C. Lines ◽  
Kenneth T. Sullivan
Keyword(s):  
Risk Management ◽  
Construction Projects ◽  
Complete Analysis ◽  
Capital Projects ◽  
Content Type ◽  
Project Costs ◽  
Management Plans ◽  
Project Risks ◽  
Internal Stakeholders ◽  
The University

Purpose – The purpose of this study is to describe how the University of Minnesota's capital program implemented risk management metrics on 266 construction projects and to present the results of the risk metrics. Design/methodology/approach – The implementation of Weekly Risk Reports (WRR) on the university construction projects captured information on the internal and external efforts related to minimizing project risks. The report implemented captured project risks, management plans, cost changes and schedule delays. Findings – Findings reveal that the university was able to effectively capture project risk metrics through the WRR. The risk metrics identified the risks categories that impacted the 266 project costs and schedules. Through these findings, the university has a better understanding of how their internal stakeholders create the greatest risk to impacting the project cost and schedule. This paper presents the risk impacts collected from the 266 projects. Research limitations/implications – A complete analysis of the risk metrics was limited in this research due to the extensive measurements collected. Future analysis will provide additional findings from the risk information. Originality/value – The paper presents both the implementation and the risk management measurements used within a capital program of a major university to provide understanding of the common risks that are involved with capital projects.

Concepts of Risk in Construction Projects

2013 ◽  
Vol 684 ◽  
pp. 644-649
Author(s):  
Alireza Ghaffari
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Construction Projects ◽  
Financial Risk ◽  
Construction Project ◽  
Cost Effective ◽  
Interest Rate Risk ◽  
Market Theory ◽  
Productivity Cost ◽  
Planning Stage

Risk is a part of business endeavours because of uncertainty (Flanagan and Norman 1993; Fischer and Jordan 1996). Portfolio theory and capital market theory stipulate that risk consists of two types, First, systematic risk, which cannot be controlled, emanates from external factors such as acts of God, natural disasters, market risk, interest-rate risk, and purchasing-power risk. Second, unsystematic risk, which can be controlled, relates to organization-specific factors such as business risk and financial risk(Fischer and Jordan 1996). These forms of risk are fundamental to the construction and the insurance industries.( Tah et al. 1993) . The construction project is a complex sector which characterized with low productivity, cost and time overruns and conflicts. The major challenges in construction project risk assessment which may attributed to knowledge requirements for determining the level of uncertainty and development of complex models to predict . To identifies the risk factors that influence the cost-effective management, operation, and maintenance of construction project, as well as how and when in the project life cycle the identified risk factors impact to the associated costs .The web- based tool can be used by decision -makers during the pre-planning stage of construction projects to estimate cost and duration implications of various risk occurrence scenarios, determine contingencies and prepare risk management plans . In this research the author considered all key articles in the related research streams in recent 30 years and analyzed the risk management views in order to identify key risk factors and its impact on the construction projects.

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