SEMINAR II

TITLE Risk Identification and Analysis Gulf Of Khambhat Develoment Project

Submitted By:

(Vikramjeet Singh, CP2012)

Guided By:

Co Guide: Rajnikant Patel

Ms. Jyoti Trivedi Assistant Professor CEPT University

(CEPT UNIVERSITY) M.Tech. Programme in Construction & Project Management CEPT University

1.1Introduction

Risk is the chance of something happening that will have an impact on objectives and risk management is the culture, processes, and structures that are directed toward realizing potential opportunities while managing adverse effects (Australian Standard Risk management Standards Australia 2004). Risk management processes typically include risk identification, risk analysis, risk response and risk communication, monitoring, review, and learning. Risk management is essential to accomplish the project objectives, and it is not only trying to keep away bad results but also acting as a guide to maximize positive results.

A successful construction project is typically regarded as one that produces a quality facility that meets or exceeds the expectations of the project sponsor on time and within budget (Wideman 1986). It is essential to allocate scarce project resources including financial, material, and human resources during the lifetimes of projects in order to minimize the risks of project failures (Imbeah & Guikema, 2009).

The Gulf of Khambhat Development Project is mainly water resources project involving creation of fresh water reservoir in the Gulf of Khambhat for meeting demand of irrigation, domestic and industrial water supply. Associated components related to the fresh water reservoir are use of top of the dam across the Gulf as a surface transport link, potential development of fisheries, and reclamation of saline land around the fresh water reservoir. (Haskoning Consulting Engineers & Architects, 2013)

1.2 Need for study

The mammoth scale, huge stakes, technological and construction management related challenges involved with Gulf of Khambhat Development Project make it essential that a systematic risk identification and analysis technique is adopted for the project.

1.3 Objectives

1) Identification of risk factors and developing Risk portfolio for the project life cycle 2) Quantification of risks 3) Suggesting risk management model for the project 1.4 Scope

The scope of study shall be restricted to the risk identification and assessment till contract awarding stage for this project. The assessment of risks involved with construction and project management with respect to execution and further life cycle stages shall be taken as future scope.

1.5 Research Methodology Literature review: Literature available in reputed journals will be reviewed to identify the risks in similar large scale infrastructure projects. Expert Interviews: Experts from industry and academics shall be interviewed to find out there concerns with respect to this project. Data Collection: Data will be collected by review of project reports published by Gujarat Government.. Data Analysis: Different statistical tools and SPSS will be used for data analysis. Conclusion: Conclusions will be drawn based on the analysis of the data collection and reviews from experiences of experts in the field. 1.6 Research plan

References
Hendrickson, C., and Au, T. (2000). Project management for construction, 2nd Ed., Carnegie Mellon Univ., Pittsburgh, 3360. Imbeah, W., & Guikema, S. (2009). Managing Construction Projects Using the Advanced. JOURNAL OF CONSTRUCTION ENGINEERING AND MANAGEMENT, 772-780. Wideman, R. M. (1986). The PMBOK ReportPMI body of knowledge standard. Proj. Manage. J., 17(3), 1524.