Identificationand Assessment of Risk Factors Affecting Real Estate Projects
Shreyas Suthar
Student of Final year, M. Tech (Construction Engineering & Management), B.V.M. Engineering College, Vallabh Vidyanagar, GTU, Gujarat, India , IN
Dr. Jayeshkumar Pitroda
Student of Final year, M. Tech (Construction Engineering & Management), B.V.M. Engineering College, Vallabh Vidyanagar, GTU, Gujarat, India , IN
Keywords: Risk Management, Risks, Risk Factors, RII Method, Relative Importance Index, Construction Projects, Construction management
Abstract
India has seen an exceptionally large growth into the construction sector in the current time. With the expansion in size of the civil construction projects connected to it we also have to consider the affecting risks related. All these risks can also make losses which lead to increase in delay of time, cost and bad quality of construction civil projects. It deals with mitigation and identification of risks in construction projects and helps in timely and in budget completion of projects. The risk management is component of project management. However, in present era researches has been focuses on risk management in construction than using an approach to find risks factors, identify it & assess the impacts of these risks. Questionnaire surveys were also used for collection of data. This research paper is based on risk affect in the construction phase. This study related to project managers, contractors, engineers,
owners and faculties. For the analysis of data Relative Importance Index technique is taken. Among all the risk events this five affect the most as per RII ranking Labour Availability, Fluctuation in Raw Material Price, Equipment breakdown, Change in Design during Construction, Material Delivery.
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