A Review of the Risk Management in Construction of Highway Projects, with specific reference to India
Keywords:
EPC, Risk management, Highway projects, NHAI, NHIDCLAbstract
This study seeks to study and identify various risks associated with highway EPC projects during
construction / improvement of national highways. Further these risks are ranked based on their likelihood of
occurrence and affecting project objectives. Risk fault tree diagrams are developed for identified critical risks and
based on the opinion expressed by experts; the probability of occurrence is determined. Fuzzy mathematics is used to
obtain possibility of occurrence of causative events to risk events.Response from experts of Public & Private sectors
are obtained and processed to prioritise the risks, assessing the impact of risks on various phases of highway EPC
project. In place response measures are studied and discussed and improvements are suggested wherever felt
necessary.