ErangaERANGA K.I - RU/E/2008/043 K.I -RU/E/2008/043 ERANDA S.D - RU/E/2008/042 Eranda S.

D -RU/E/2008/042

Content
Introduction What is the Risk ? Risk Classification Objective of the Project Methodology Risk Classification for Study Activity Plan References

Introduction
Construction projects have number of defects. Those are,
Unable to complete within given time period.

Unable to complete with required quality.

Unable to achieve targeted profit. Unable to maintain sustainability of environmental.

Occurring number of accidents.

What is the reason for that defects

Due to unable to predict

Risk

What is the Risk ?

From the Literatures The Institute Of Civil Engineers And The Institute Of Actuaries In The United Kingdom
Risk is often referred to as the presence of potential or actual treats or opportunities that influence the objectives of a project during construction, commissioning, or at time of use

Dias and Ioannou (1995)

Concluded that there are two types of risk:

1) Pure risk when there is the possibility of financial loss but no possibility of
financial gain, 2) Speculative risk that involves the possibility of both gains and losses. Many More

Risk Classification
Richard D. Lands Classification

NafisahBinti Abdul Rahimans Classification

Objective of the Project

Well planed projects also can be overrun, lag in time and behind schedule due to varies risks. Therefore prior knowledge of possible risk and importance of identifying how to to deal with those risk factors is very much useful for timely completion of the project with desired quality. The objectives of this research are identifying main risk factors in building constructions and sorting of those risk factors from higher priority to low priority.

Methodology
Literature Review Identify Risk Factors Preliminary Questionnaires Preparation

Pilot Survey

Final Questionnaires Preparation

Getting Information Data Analyzing

Sorting of Risk Factors

Risk Classification for Study

Cost Related Risk Time related risks

Quality related risks

Risk

Safety Related Risk

Environmental related risks

Activity Plan

References
1. Pro. Jayawardena A.K.W, Eng. Panditha H.G.W. Understanding and Mitigating the factors affecting construction delays, 2003, pp 07-14 2. LeonasUstinovichius, ZenonasTurskis and Galina ShevchenkoMultiattributr Analysis Of Investment Risks In Constructionpp684-685(accessed January 23,2012) 3. NafisahBinti Abdul Rahiman Managing Construction Project Risks pp23(accessed January 23,2012) 4. Dr Patrick. X.W. Zou, DrGuomin Zhang and Professor Jia-Yuan Wang Identifying Key Risks in Construction Projects: Life Cycle and Stakeholder Perspectives pp6 (accessed January 23,2012) 5. EdmundasKazimierasZavadskas, ZenonasTurskis, JolantaTamosaitienes Construction Risk Assessment Of Small Scale Objects By Applying Topsis Method With Attributes Values Determined At Intervals. 2008, pp 351-357. 6. www.dot.ca.gov/.../caltrans_project_risk_management_handbook_20070502 .pdf pp29-33(accessed january 23,2012) 7. www.pathways.cu.edu.eg/subpages/downloads/Risk_Chapter_1.pdf. pp 13.(accessed January 23,2012)