scholarly journals Assessment of risk management and evaluate the level of risk in construction project: Case Study

2020 ◽  
Vol 2 (1) ◽  
pp. 66-72
Author(s):  
Akeel A Husein ◽  
Ali Majdi
Keyword(s):  
Construction Projects ◽  
Risk Allocation ◽  
Concrete Frames ◽  
Private Company ◽  
Worst Case ◽  
Complex Models ◽  
In The Beginning ◽  
The Cost ◽  
Principal Task

This study illustrates the risk assessment and analysis which was made as a requirement in the beginning of the project of a stadium.Risks at project are classified into ten items so that it is easy to manage and monitor them. Simple model is adopted in assessing risks such that it is easy to be understood and modified in contrast with the complex models that produce misleading. Sharing, mitigation and accepting risk are strategies adopted in the final assessment. In the case of sharing risks, it is shown that contracting strategy must be based on risk allocation. Inplanning for risk, purpose must be clear as well as responsibilities and this can be shown  precisely in a form of Risk Plan. The objective that this study serves is to identify the cost needed for the whole project from the stage of design to the finishing works.This includes all facilities in the stadium like the concrete frames, buildings and so. The study was very important to provide information to the contractor (a private company) and made confidence in that the estimated cost and time needed for achieving the objectives of the project are realistic and based on sound information.The experience gained from previous similar projects was an advantage factor in that most of problems were clear. The most important problem was the likelihood of delay, which, in the worst case will lead to dramatic increasing in costs. Therefore, the assessment of this risk was principal task in the study although it is necessary to take care for all potential risks.The study shows that risks at construction projects carried by many parties found to be changing according to internal or external changes and the change of priorities can be seen by simulating changes in ranking in each case. It is shown also that badly risk communication leads to real problems as in the case of making thought of building the stadium to be late. The cost of the delay which is the primary risk was calculated for each part of the project. For the construction activities, these were assumed to be the overhead. The time costs calculated was in maximum ($ 1,500,000) which is about (10%) of the total cost of the project.

Evaluation of Stipulated Conditions Imposed at the Time of Grant of Environment Clearance from the Perspective of Implementation of Compliance-A Case Study for Construction Projects in India

2015 ◽  
Vol 03 (01) ◽  
pp. 1550006
Author(s):  
Sunil GUPTA ◽  
Sanjay SHARMA ◽  
Randeep Singh SAINI
Keyword(s):  
Construction Projects ◽  
Management Plan ◽  
Group Housing ◽  
Environment Management ◽  
Institute Hospital ◽  
Educational Institute ◽  
Effective Compliance ◽  
The Cost ◽  
Environment Parameters

The purpose of the paper is to discuss the stipulated conditions imposed at the time of grant of environment clearance from the perspective of implementation of compliance in case of construction projects in India. Conditions as imposed on 40 different building and construction projects in India from 2008 to 2013 are studied and evaluated and for a ready reference a sample of 14 representative project types is given in the paper. Based on the evaluation, we conclude that the laid down conditions are general in nature and more or less same irrespective of the location or type of the project may be an educational institute, hospital, office, hotel, group housing, bus terminus, or multiplex and whether it graded platinum or bronze in rating or ungraded. The impacts of the project nowhere find a mention in the stipulated conditions and thus there is no correlation between the conditions imposed and the baseline environment parameters. There is a dire need to rework the stipulated conditions itself on the lines of environment management plan proposed by the project proponent including setting apart the cost of implementation, if an effective compliance as envisaged by Ministry of Environment and Forests, Government of India is to be achieved.

A novel model for risk management of outsourced construction projects using decision-making methods: a case study

2020 ◽  
Vol 10 (2) ◽  
pp. 97-123 ◽  
Author(s):  
Amin Mahmoudi ◽  
Mehdi Abbasi ◽  
Xiaopeng Deng ◽  
Muhammad Ikram ◽  
Salman Yeganeh
Keyword(s):  
Decision Making ◽  
Construction Projects ◽  
Project Managers ◽  
Analytic Hierarchy ◽  
Suitable Alternative ◽  
Content Type ◽  
Proposed Model ◽  
The Cost ◽  
First Time

PurposeSelecting a suitable contract to outsource construction projects is an ongoing concern for project managers and organizational directors. This study aims to propose a comprehensive model to manage the risks of outsourced construction project contracts.Design/methodology/approachTo employ the proposed model, firstly, the types of contracts and risks in the organization should be identified, then, to prioritize the contracts, the identified risks are considered as criteria. After receiving the experts' opinions, the best–worst method (BWM) integrated with grey relation analysis (GRA) method was used to prioritize the contracts. BWM and GRA are multi-criteria decision-making methods with different approaches and applications. In the current study, BWM has been employed to calculate the weights of criteria because it has better performance than other methods such as the analytic hierarchy process (AHP). After calculating the weights of criteria, the GRA method has been utilized for ranking the alternatives.FindingsAccording to the results obtained from the case study, the cost plus award fee contract is the most suitable alternative for outsourcing construction projects. The proposed methodology can be practically applied through different types of the projects such as construction or “engineering, procurement and construction”.Originality/valueTo the best of our knowledge, this is the first time a conceptual model has been proposed to select an appropriate contract for construction projects. Also, for the first time, the BWM integrated with GRA method has been used to prioritize project contracts based on the potential risks. The proposed model can contribute to project managers for selecting a suitable contract with the least risk in construction projects.

Determining the cost of poor quality and its impact on productivity and profitability

2014 ◽  
Vol 4 (3) ◽  
pp. 296-311 ◽  
Author(s):  
Shahid Mahmood ◽  
Syed M. Ahmed ◽  
Kamalesh Panthi ◽  
Nadeem Ishaque Kureshi
Keyword(s):  
Labor Productivity ◽  
Construction Projects ◽  
Data Entry ◽  
Poor Quality ◽  
Measuring System ◽  
Appraisal System ◽  
Content Type ◽  
The Cost ◽  
Cost Of Poor Quality

Purpose – The purpose of this paper is to examine how effectively the cost appraisal system proposed measures the cost of poor quality (COPQ) in a construction project. The paper first formulates how COPQ can be measured and later clarifies the relationship between COPQ, labor productivity, and profitability. Design/methodology/approach – In order to measure COPQ, the researchers prepared data entry forms for recording COPQ items on a daily basis and formulated the cost contribution of lost material, lost man-hours, lost machinery hours, and lost overhead on the overall COPQ for the project. The proposed method was then applied in a case study. Findings – The results showed that, for the 60-days study period, COPQ decreased by about 24 percent while labor productivity and profitability increased by about 17 and 11 percent, respectively, after the implementation of COPQ measuring system. This study further supports the use of the COPQ system in construction projects as a mechanism to facilitate continuous improvement. Originality/value – COPQ is a major cost that is often ignored in construction projects due to the difficulty of measuring it. This paper presents a COPQ measuring and recording system capable of identifying COPQ. The implementation of the system is shown to increase productivity and profitability as demonstrated by the project used for the case study.

Optimizing the cost, LEED credits, and time trade-offs using a genetic algorithmic model

2020 ◽  
Vol 47 (5) ◽  
pp. 596-608
Author(s):  
Shantanu Kumar ◽  
Mohammed S. Hashem M. Mehany
Keyword(s):  
Construction Projects ◽  
Time Budget ◽  
Study Data ◽  
Trade Off ◽  
Trade Offs ◽  
Dataset Size ◽  
Preliminary Study ◽  
Algorithmic Model ◽  
The Cost

Over the last century, the complexity of construction projects has increased exponentially and its factors (e.g., time, budget, and quality) have generated complicated trade-offs. This research focuses on the trade-off between time, cost, and sustainability represented in Leadership in Energy and Environmental Design (LEED) credits (particularly materials and resources). The research is broken into preliminary and validation studies wherein the preliminary study uses an exhaustive search to find the optimized solution. In the validation case study, dataset size increased exponentially, and it became computationally incompatible to find the optimized solution. Genetic algorithm (GA) is used to find the optimized solution based on user-defined priority factors. Usage of GA is validated using the preliminary study data and then applied to the validation study data. A trade-off is seen between the priority factors and the optimized solution. The optimization model is successful in minimizing the time and cost, concurrently maximizing the points associated with LEED credits for a validation case study.

scholarly journals Bim Machine Learning and Design Rules to Improve the Assembly Time in Steel Construction Projects

2021 ◽  
Vol 14 (1) ◽  
pp. 288
Author(s):  
Mathieu Fokwa Soh ◽  
David Bigras ◽  
Daniel Barbeau ◽  
Sylvie Doré ◽  
Daniel Forgues
Keyword(s):  
Machine Learning ◽  
Construction Projects ◽  
Steel Structure ◽  
Information Modeling ◽  
Practical Case ◽  
Design Rules ◽  
Steel Construction ◽  
Building Information ◽  
The Cost

Integrating the knowledge and experience of fabrication during the design phase can help reduce the cost and duration of steel construction projects. Building Information Modeling (BIM) are technologies and processes that reduce the cost and duration of construction projects by integrating parametric digital models as support of information. These models can contain information about the performance of previous projects and allow a classification by linear regression of design criteria with a high impact on the duration of the fabrication. This paper proposes a quantitative approach that applies linear regressions on previous projects’ BIM models to identify some design rules and production improvement points. A case study applied on 55,444 BIM models of steel joists validates this approach. This case study shows that the camber, the weight of the structure, and its reinforced elements greatly influence the fabrication time of the joists. The approach developed in this article is a practical case where machine learning and BIM models are used rather than interviews with professionals to identify knowledge related to a given steel structure fabrication system.

scholarly journals Case Study of Delay Construction Projects in Bidau Dili Timor-Leste Bridge

2020 ◽  
Vol 3 (1) ◽  
pp. 20-28
Author(s):  
Eliseu Soares Parerira Amaral
Keyword(s):  
Construction Projects ◽  
Construction Project ◽  
Contract Law ◽  
Project Work ◽  
Bridge Construction ◽  
Project Completion ◽  
Timor Leste ◽  
Clear Identification ◽  
The Cost

The process of implementing development projects has many obstacles that were not predicted beforehand resulting in delays in project completion which have an impact on increasing the cost of project implementation. sometimes the project is not completed in accordance with a predetermined schedule that may be caused by certain factors. Various ways can be done to anticipate and be a solution to the delay. The purpose of the study is to analyze the factors that influence delays in bridge construction projects in Bidau Timor - Leste and how to anticipate delays in project work. The research method used is descriptive method by observation and direct interviews. So that there are several dominant factors that influence the delay of the Bidau Timor-Leste bridge construction project, including the types of weather, material and financial. To anticipate delays in construction projects, it is necessary to do a work contract in accordance with the contract law in which all matters are regulated, so that the anticipation, mitigation and accountability are clear. Identification of the application of overcoming delays in the Bidau Timor-Leste bridge construction project if viewed from the side of the existing contract there are still shortcomings, so it needs to be improved in terms of working contract documents and refer to the contract law.

PREDICTING COST CONTINGENCY FOR PRIVATE PROJECTS: CASE STUDY IN VIETNAM

2020 ◽  
Vol 43 (01) ◽  
Author(s):  
NGUYEN TUAN KIET ◽  
SOO-YONG KIM ◽  
VAN TRUONG LUU ◽  
LE VAN HUNG ◽  
LE HUU DAT
Keyword(s):  
Cost Estimation ◽  
Construction Projects ◽  
Project Performance ◽  
Project Managers ◽  
Performance Information ◽  
Quality Cost ◽  
Factors Affecting ◽  
Forecasting Method ◽  
The Cost

Actual cost in construction projects has tended to exceed the project budgets. Thus, cost contingency from the initial of the project is the significant budget to complete project activities. Cost contingency is an important element of  cost estimation to protect project stakeholders such as owners, contractors, and architects from the risks of the project. This paper reviewed the previous studies to find the factors affecting cost contingency and proposed a regression model to predict the cost contingency for private projects in Vietnam. Through industry survey, project performance information from a total of 48 private projects in Vietnam was gathered. The research also compared with other studies to have an overview about cost contingency predicting methods. The key benefit of this research is that the project managers can use this model as another forecasting method to get a better quality cost management. The further research can be focused on developing the model for other project types in Vietnam.

scholarly journals Lean Construction in a Real Estate Project – A Case Study

2021 ◽  
Vol 1 (2) ◽  
Author(s):  
K. Srinivas
Keyword(s):  
Construction Projects ◽  
Lean Construction ◽  
Raw Material ◽  
Construction Techniques ◽  
Real Estate Project ◽  
Integrated Project ◽  
Project Estimation ◽  
The Cost ◽  
Tools And Techniques

More than 70% of construction projects are over budget and delivered beyond thebudgeted time. To overcome the same, the concept of lean integrated project deliverycame into existence. Lean culture focuses on customer by empowering employees. Itinvolves in converting waste into value by reducing waste, improving communication, andpromoting teamwork integration through a common set of tools and techniques. Aim oflean construction is to achieve the affordable cost with optimum utilization of man,material and machinery. Wastes in construction industry which do not add value are supplyin excess materials in inventory for raw material, work in progress, finished goods etc.Waiting for preceding activity, over processing and defects can be reduced through leanconstruction. This paper deals with lean construction techniques for identifying the wastein a construction project and eliminating the same. . In this project estimation of a buildingis done to find cost of the project with respect to specifications and compared thetraditional methods used and lean construction techniques to reduce the cost and improvethe quality in less time with lower cost to satisfy the customer.

scholarly journals Cost Over-Run in Civil Works: A Case-Study of Engineering, Procurement and Construction (EPC) Gas Depot Construction Projects in Nigeria

2020 ◽  
Vol 1 (4) ◽  
Author(s):  
Chukwuemeka Patrick Ogbu ◽  
Raphael Ehigiator-Irughe
Keyword(s):  
Construction Projects ◽  
Oil And Gas ◽  
Case Study Research ◽  
Petroleum Products ◽  
Cost Overrun ◽  
Cost Overruns ◽  
Cumulative Difference ◽  
The Cost ◽  
Cost Of Construction

Engineering, procurement and Construction (EPC) projects in the oil and gas sector of Nigeria are under-researched. This leaves investors with little or no guide on the cost-overrun risks of oil and gas depot projects. Using the qualitative case study research technique, this study investigated cost overrun in the civil works of a petroleum products depot project in Lagos, Nigeria. The objectives were to ascertain the reasons for cost overrun and the areas of substantial cost overrun in the project. It was found that except for the cost of construction of “gantry” which was under-measured as a result of use of a wrong method of costing, the rest of the major facilities experienced cost overrun with a cumulative difference of 106%. It was also discovered that the cost overruns mainly originated from design and construction activities. The study recommends the timely engagement of consultants to review the conceptual designs of contractors and monitor the activities of EPC contractors for oil and gas depot projects on behalf of clients. Such consultants should not, however, have powers to control the contractors. As much as possible, parties to EPC contracts should use standard conditions of contract that will better reflect their intentions rather than contrive bespoke conditions.

Analytic Network Process Approach to Risk Allocation of EPC Projects Case Study: Gas Refinery EPC Projects in Iran

2014 ◽  
Vol 567 ◽  
pp. 654-659
Author(s):  
Alireza Valipour ◽  
Hadi Sarvari ◽  
Yahaya Nordin ◽  
Md Noor Norhazilan ◽  
Seyed Meysam Khoshnava
Keyword(s):  
Risk Management ◽  
Significant Variation ◽  
Construction Projects ◽  
Analytic Network Process ◽  
Process Approach ◽  
Risk Allocation ◽  
Allocation Criteria ◽  
Network Process ◽  
Gas Refinery

Risk allocation is the most significant factor in risk management. Earlier research has shown that risk allocation is essential to achieve success in construction projects. Risk allocation may fail to be achieved due to lack of a mechanism for joint risk management. Successful optimal risk allocation requires one to identify and evaluate the risk allocation criteria, which interact and overlap with each other and can lead to significant variation in the decision outcome in risk allocation. This study aims to allocate the risks in EPC projects using the analytic network process (ANP) method. The ANP approach is preferable in identifying the problems of interdependence and feedback among various criteria factors. The method utilizes data that are collected through a literature review, interviews, and a questionnaire distributed to EPC project experts. The results have shown that 12 risks are allocated to the developer, 9 risks are shared between developer and contractor, and 12 risks are allocated to the contractor. In conclusion, ANP is found to be suitable in analyzing the feedback and interdependencies among risk allocation criteria.

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