ANALYSIS OF RISK IN PLANNING AND SCHEDULING FOR

AN APARTMENT PROJECT
Vineetha Venu#1, Karthikeyan.P*2, and Prof.Palanisamy.R.M.*3

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Abstract— Historically the to prevent the occurrence or in all areas - from property
characteristics of risk factors mitigate the consequence of management to risk
involved in Construction project failure. Thus, a tool management. To be
Projects differ with different that can aid project successful in this
regions. And it is difficult for a management to proactively environment, where our
new comer to identify new identify and assess risks, and collective "performance bar"
risks in a new environment.
applying the appropriate Risk is being raised significantly,
This gets even more
complicated in assessing these Control techniques to the real estate industry will
risks and the subtle impact of mitigate the risks can help have to dedicate more
relationships among them. On assure project success. resources and develop a
one hand, ignoring these risks higher degree of operational
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is irresponsible, and results in Vineetha Venu is currently an sophistication construction
unrealistic decisions. On the undergraduate student in METHODOLOGY
industry is vulnerable to the
other hand, identifying and Department of Civil numerous other business
assessing all the new risks and Engineering, Karpagam College  Study of literature
risks that often represent related to Risk
their relationships is a very of Engineering (Affiliated to
Anna University, Autonomous),
greater exposures than those Analysis and Risk
complicated, time-consuming
and an expensive process. This Coimbatore-641032, India. that are traditionally Management
process is almost impossible (Ph:0091-8015978591);e- insurable. For example, there capabilities.
for the majority of projects, mail:er.vineetha@yahoo.com are regulatory and legislative  Preparation of
especially when there are risks, professional, Questionnaire.
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inadequate amounts of time Karthikeyan .P is the Assistant contractual, competitive and  Site visit to major
and information. When such a Professor Department of Civil human resource/cultural construction project
complex scenario is Engineering Karpagam College sites.
risks, reputational, strategic,
encountered, identifying and of Engineering (Affiliated to  Questionnaire survey
Anna University, Autonomous), customer, operational,
controlling these vital risk and personnel
factors in construction projects Coimbatore-641032, India. political, legal, financial, and
interviews with in-
becomes extremely important. (Ph:0091-9994297921);e- technological risks charges and managers
In this paper, a method of mail:karthipceg@gmail.com and collection of
managing various risks for OBJECTIVE data from site.
construction projects is 3
Palanisamy.R.M is the  Analyzing the
developed and an effective Professor& Head, Department of Mostly risks are Questionnaire.
identification of the vital risks Civil Engineering Karpagam inherent in construction industry.  Qualitative analysis of
in construction projects is College of Engineering Risk cannot be ignored but it data obtained from site
studied. (Affiliated to Anna University, can be managed. and to identify the root
Autonomous), Coimbatore-  To Identify and cause.
Keywords— Identification, 641032, India. (Ph: 0091- quantify the risk  Remedial measures to
Time-consuming, Unrealistic 9445464446); e-mail: factors in construction be suggested and the
decision rmpalanisamyme@gmail.com projects particularly present data to be
ongoing projects. recorded for future
I. INTRODUCTION II RISKS IN  To quantify the reference.
CONSTRUCTION relation between the  Conclusions,
Construction projects are
INDUSTRY risk in construction recommendations and
initiated in complex and project. suggestions for future
dynamic environments  To estimate the
The construction industry has study.
resulting in circumstances of relation with in the
high uncertainty and risk, changed significantly over
factors and predicting
which are compounded by the past several years. It is an the individual
industry driven primarily by III RISK
demanding time constraints. influence of factors for CLASSIFICATION
Traditional project private investors the presence risk related problems
management that relies on of securitized real estate has in project.
increased considerably. Not  Create the S.NO
multi RISK CLASSIFICATION
reactive measures to manage
project crises is often unexpectedly, the influence factors model for risk
of institutional investors on in project to finding Physical
ineffective to prevent project the risk related
failure. Knowing the risks the real estate industry is
problems in projects. Personal
that can potentially cause formidable. They are
 To eliminate the
harm to a project but without beginning to experience a 2.1- Technician and labour
technical risk for
a mechanism to prioritize the higher degree of scrutiny by future based on survey.
risks, project management investors, consultants and . 2.2 - Subcontractor
would also face difficulties in analysts, and are expected to
allocating adequate resources deliver "best in class" service 2.3- Staff, foreman

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 their clients, both from the owner
2.4- Engineer and the contractor side. Sub-
contractor related problems, time
2.5 – Consultant constraint, and increase in
Where as inflation were the major
3 Technical problems concerned with both
the contractor and owner. The
3.1- Material full results were shown in the
table.
3.2- Equipment

3.3 - Technique

3.4 - Construction process Where as RESULT -RISK

CLASSIFICATION
3.5- Construction site

3.6- Ground condition

4 Safety-accident

5 Construction design cause

6 Political and regulation Fig 2 Pie Chart for Contractual

Risks
7 Financial

8 Contractual

9 Environmental regulations cause

βikj Impact of risk i, assessed by respondent j
αij Likelihood occurrence of risk i, assessed respondent j
Fig i Ordinal number of risk, iv(1,124)
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Pie j Ordinal number of valid feedback to risk i, jv(1,n)
k Ordinal number of classification of risk, kv(1,9)
k
IV METHOD OF R Significance index score for risk I on classification of
i
SURVEYING risk k
rikj Significance score assessed by respondent j for the
The general methodology of impact of risk I
this study relies largely on the n Total number of valid feedback questionnaire,
survey questionnaire which assessed by respondent j
will be collected from the Chart for Physical Risks
local building contractors of
different sizes by mail or by
personnel meeting. A thorough Rk i Significance index score for risk I on
literature review was initially classification of risk k
conducted to identify the risk RESULT OF SURVEY
factors that affect the
performance of construction For the survey, totally Fifty
industry as a whole. questionnaires were given, out of
which forty five had an effective
DATA ANALYSIS reply and five were rejected due
to improper answering. Thus the
The risk significant index response rate is 90% which is
developed by Shen (2001) was considered a good response in
used in this study. With respect this type of survey. All the
to the impact of risk, the questionnaire survey was done
significant score for each risk from project managers of the
assessed by each respondent is project or project engineer at the
calculated using Equation. site. In some cases, consultant
gave the answers on behalf of

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 For simple understanding the
risks out of all the risk factors
top ten risks were found
tabulated in the Table 1 and
the bar chart for the same is
shown in Figure 9.

Fig 3 Pie Chart for Construction

Process Cause Pollution Risks
Fig 5 Pie Chart for Financial
Risks Fig 7 Pie Chart for Safety-
accident

Fig 6 Pie Chart For Political and Fig 8 Pie Chart for Technical
Regulation Risks Risks

Fig 4 Pie Chart for Construction

Design Cause Risk

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 not normally raised during Management International
finalization of project. Conference, Vol.6,No.2,pp.123

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1 Loss due to fluctuation of inflation rate 3.05 5. Nasir, Brenda McCabe, and
Loesie Hartono
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Construction–Schedule Model
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Fig 9 Overall Ranking of Risks enable bankers to take quick Risk Modelling and Assessment:
decisions for lending finances, Insights from a Literature
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