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Experimental Study on: “Risk Management in Residential Building Project”

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Experimental Study on: “Risk Management in Residential Building Project”


Susheel Tiwari | Rakesh Sakale | Hirendra Pratap Singh

https://doi.org/10.31142/ijtsrd21500



Susheel Tiwari | Rakesh Sakale | Hirendra Pratap Singh "Experimental Study on: “Risk Management in Residential Building Project”" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-2, February 2019, pp.815-821, URL: https://www.ijtsrd.com/papers/ijtsrd21500.pdf

Risk can be described as the absence of information when a decision is to be made at any time throughout a process. The construction industry is often considered as complex and defragmented due to working in a project based format; with a unique product and a process where there are times when decisions need to be made with insufficient information. Therefore, proper risk management processes can be vital to minimizing risks, maximizing opportunities and securing a successful project process This master thesis has been conducted at a large Swedish construction company that houses both a constructing unit and a residential development unit. Consequently, the focus of this thesis has been on analysing the risk management process when a residential project is both developed and constructed by the same company. The purpose of this master thesis is to describe and analyse risk management in a project based organization within the construction industry. The thesis aims to provide a better understanding of how risk management is used in practice but also what underlying factors that can affect risk management processes. The study will include both the perspective of the developer and the constructor; as well as their separate and joint processes facilitating risk management. In regards to the purpose of this thesis, a general risk management model has been used to provide a framework for analysis. This model consists of four steps: risk identification, risk assessment, risk mitigation and risk monitoring.

Risk Management, Risk Factor, Risk Management Action


IJTSRD21500
Volume-3 | Issue-2, February 2019
815-821
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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