Abstract
Construction industry is mostly affected by risks. So, the people in the construction organizations need to manage the risks by using different techniques of construction management. In this study, the data is gathered through questionnaires from Vijayawada and Visakhapatnam in Andhra Pradesh State, India. SPSS software is used for evaluating results. The risk analysis methods in Vijayawada construction organizations results are about 45% using Direct Judgement Techniques, and in Visakhapatnam, Comparing Analysis Technique is used for about 42%. In Vijayawada, the risk response technique used is Risk Transfer resulting about 41.4%, and in Visakhapatnam, it is about 37.9%. Therefore, in Vijayawada the technology risk transferring method is used about 62.1% (often), and in Visakhapatnam, it is about 45% (often). Finally, in Vijayawada the financial risk transferring method is rarely about 69% and in Visakhapatnam it is rarely about 62%. Therefore, if all the above risk analysis techniques and risk response techniques are used properly in the construction organizations, then the project will be finished within the given time and budget.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Hertz, D., Thomas, H.: Risk analysis: important new tool for business planning. J. Bus. Strategy 3(3) (1983) (Cambridge)
Chapman, C.B.: A risk engineering approach to project management. Int. J. Project Manage. 8(1), 5–16 (1990)
Jamal, F., Al-Bahar, K.C.: Crandall: systematic risk management approach for construction projects. J. Constr. Eng. Manag. 116(3), 533–546 (1990)
Thompson, P.A., Perry, J.G. (eds.): Engineering Construction Risks—A Guide to Project Risk Analysis And Risk Management. Thomas Telford, London (1992)
Edwards, L.: Practical Risk Management In The Construction Industry. Thomas Telford Services Ltd, London (1995)
Nummedal: Proceedings of the International Conference on Health, Safety and Environmen, vol. 2, Texas Univ, Austin, pp 112–117 (1996)
Zou, P.X.W., Zhang, G., Wang, J.: Understanding the key risks in construction projects in China. Int. J. Proj. Manag. 25(6), 601–614 (2007)
PMI : A Guide to The Project Management Body of Knowledge (PMBOK guide) (Newtown Square: Project Management Institute) (2013)
Perera, B., Rameezdeen, R., Chileshe, N., Hosseini, M.R.: Enhancing the effectiveness of risk management practices in Sri Lankan road construction projects: a delphi approach. Int. J. Constr. Manag. 14, 1–14 (2014)
Rostami, A.: Tools and techniques in risk identification: a research within SMEs in the UK construction industry. Universal J. Manag. 4(4) 203–210 (2016)
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2022 The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.
About this paper
Cite this paper
Divya Sankar, S., Shashikanth, K., Mahender, S. (2022). Risk Management in Construction Industry. In: Pal, I., Kolathayar, S. (eds) Sustainable Cities and Resilience. Lecture Notes in Civil Engineering, vol 183. Springer, Singapore. https://doi.org/10.1007/978-981-16-5543-2_4
Download citation
DOI: https://doi.org/10.1007/978-981-16-5543-2_4
Published:
Publisher Name: Springer, Singapore
Print ISBN: 978-981-16-5542-5
Online ISBN: 978-981-16-5543-2
eBook Packages: EngineeringEngineering (R0)