Investigation of Vital Risks in Construction Projects

Poiyamozhi, M.V.V. Thirumuruga; Kumar, P.Suresh

The author(s) of this article has(ve) requested that it be retracted from publication

Volume 23, Issue 1, May 2016, Pages 134–141

Investigation of Vital Risks in Construction Projects

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@article{IJISR-16-049-45,
author = {M.V.V. Thirumuruga Poiyamozhi and P.Suresh Kumar},
title = {{Investigation of Vital Risks in Construction Projects}},
journal = {International Journal of Innovation and Scientific Research},
volume = {23},
year = {2016},
pages = {134--141},
issue = {1},
number = {1},
issn = {2351-8014},
url = {http://www.ijisr.issr-journals.org/abstract.php?article=IJISR-16-049-45},
abstract_html_url = {http://www.ijisr.issr-journals.org/abstract.php?article=IJISR-16-049-45},
pdf_url = {http://www.issr-journals.org/links/papers.php?journal=ijisr&application=pdf&article=IJISR-16-049-45},
document_type={Article},
source={www.issr-journals.org}
}

TY  - JOUR
ID  - 
TI  - Investigation of Vital Risks in Construction Projects
AU  - M.V.V. Thirumuruga Poiyamozhi
AU  - P.Suresh Kumar
PY  - 2016
VL  - 23
IS  - 1
SP  - 134
EP  - 141
JO  - International Journal of Innovation and Scientific Research
T2  - International Journal of Innovation and Scientific Research
SN  - 23518014
UR  - http://www.ijisr.issr-journals.org/abstract.php?article=IJISR-16-049-45
AB  - The aim of this paper is to comprehend the key risks in construction projects in India and to develop strategies to manage them. Risks are prioritized according to their significance of influences on typical project objectives in terms of cost, time, quality, safety and environment and then scrutinized from a joint perspective of project stakeholders. Postal questionnaire surveys were utilized to collect data. The survey includes two groups of data, the likelihood of occurrence of each risk and its magnitude of outcome on project objectives in terms of cost, time, quality, environment and safety. Based on postal questionnaire, a total of 25 key risks were ascertained which context to highlight the unique risks associated with construction projects in Tamilnadu. Strategies to manage the risks were sought from the perspectives of project stakeholders and the management of risk is incredibly affected by the uniqueness of the construction industry in a specific country. It is concluded that clients, designers and government bodies should take the responsibility to manage their relevant risks and work cooperatively from the initial stage onwards to minimise the potential risks in cost and time. Contractors and subcontractors with robust construction and management knowledge should be employed to reduce construction risks and carry out safe, efficient and quality construction activities.
ER  -

TY  - JOUR
ID  - 
TI  - Investigation of Vital Risks in Construction Projects
AU  - M.V.V. Thirumuruga Poiyamozhi
AU  - P.Suresh Kumar
PY  - 2016
VL  - 23
IS  - 1
SP  - 134
EP  - 141
JO  - International Journal of Innovation and Scientific Research
SN  - 23518014
AB  - 
The aim of this paper is to comprehend the key risks in construction projects in India and to develop strategies to manage them. Risks are prioritized according to their significance of influences on typical project objectives in terms of cost, time, quality, safety and environment and then scrutinized from a joint perspective of project stakeholders. Postal questionnaire surveys were utilized to collect data. The survey includes two groups of data, the likelihood of occurrence of each risk and its magnitude of outcome on project objectives in terms of cost, time, quality, environment and safety. Based on postal questionnaire, a total of 25 key risks were ascertained which context to highlight the unique risks associated with construction projects in Tamilnadu. Strategies to manage the risks were sought from the perspectives of project stakeholders and the management of risk is incredibly affected by the uniqueness of the construction industry in a specific country. It is concluded that clients, designers and government bodies should take the responsibility to manage their relevant risks and work cooperatively from the initial stage onwards to minimise the potential risks in cost and time. Contractors and subcontractors with robust construction and management knowledge should be employed to reduce construction risks and carry out safe, efficient and quality construction activities.
ER  -

RT Journal Article
ID IJISR-16-049-45
A1 M.V.V. Thirumuruga Poiyamozhi
A1 P.Suresh Kumar
YR 2016
T1 Investigation of Vital Risks in Construction Projects
JF International Journal of Innovation and Scientific Research

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M.V.V. Thirumuruga Poiyamozhi¹ and P.Suresh Kumar²

¹ Department of Civil Engineering, University College of Engineering, Panruti, Panruti, Tamilnadu, India
² Department of Civil Engineering, University College of Engineering, Panruti, Panruti, Tamilnadu, India

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Investigation of Vital Risks in Construction Projects