CH 2: LITERATURE STUDY

2.0 GENERAL:
In this chapter, the summary of the literature studied, to understand the concepts of risk
analysis of construction projects.

2.1 PUBLISHED LITERATURE: PAPERS

2.1.1 Using a Risk Breakdown Structure in
project management
By: Hillson David
This paper presents the concept of the RBS, and gives a number of
examples drawn from different project types and industries. The benefits
of using the RBS are then outlined, including as an aid for risk
identification or risk assessment, comparison of projects, providing a
framework for cross-project risk reporting.
Outcome of the study: Understanding the RBS, its uses and how to
develop a risk breakdown structure for projects.

2.1.2 Risk Classification Model for Design and

Build Projects
By - O. E. Ogunsanmi, O. A. Salako and O. M. Ajayi
This paper has investigate if the various risk sources in Design and Build
projects, the risk sources are classified into three risk groups of cost, time
and quality using the discriminant analysis technique. Literature search
was undertaken to review issues of risk sources, classification of the
identified risks into a risk structure, management of risks and effects of
risks all on Design and Build projects as well as concepts of discriminant
analysis as a statistical technique.

2.1.3 Identification and assessment of risk

factors affecting construction projects
By- Mohamed Sayed Bassiony Ahmed Abd El-Karim
In this study the author has identify, study, and assess the effect of the
factors that affect cost and time contingency. Data are collected from
sixteen construction companies in Egypt. The collected data, output
charts and analyses spreadsheets were used for the development of
computerized model.
Outcome of the study: Typicall risk factors affecting time and cost overrun
in construction projects have been identified.

2.1.4 Risk Analysis for Design-Build Construction

Projects: A Simplified Approach
By- Mohamed El-Gafy
This paper proposes a simplified schedule and risk analysis model to help
construction

estimators.

hypothetical

case

study

was

used

to

demonstrate the applicability of this simplified model. The developed

model showed a promising enhancement to be used by estimators in
analyzing the risk of project schedule and cost overruns.

2.2 UNPUBLISHED LITERATURE: SEMINAR / THESIS

2.2.1 Risk Management in Construction Projects Using
Primavera Risk Analysis
By Veena S. Namboodiri, Seminar- 2013
In this seminar study aims to understand the application of risk
management in construction projects, the author has identified the major
risks involved in a project through literature study and case examples. The
identified risks were then ranked qualitatively using AHP, PI matrix.

Further Primavera risk analysis software was used to quantitatively

analyze these risks.

2.2.2 Construction project risk analysis and management

By- Harmandeep Singh Kamboz, 2009
This thesis deals with the application of construction risk management is
studied. The first part of the study deals with the theoretical risk
management process and each construction risk management process
has been dealt in a different chapter. The second part consists of two case
studies, demonstrating the occurrence and consequences of risks in
projects. Qualitative risk assessment has been done using risk ranking
methodology based on probability and impacts. The techniques like AHP,
Monte Carlo simulation and EVM has been used for the quantitative risk
assessment.

2.2.3

Risk

Management

for

pre-construction

and

construction stages of the building projects

By- N.Sharada 2002
This thesis deals with the application of risk management processes for
the preconstruction and construction phases of a construction project. It
covers risk identification and classification, qualitative and quantitative
assessment

and

risk

response

development

phases

of

the

risk

management process. The thesis applies the available tools and

techniques for the qualitative and quantitative risk assessment of a
construction project. It also aims to develop a standard methodology for
the qualitative and quantitative risk assessment. It also discusses the
process of risk response control executing the risk management plan to
respond to risk events.

2.3. PUBLISHED BOOK, CODES AND STANDARDS

2.3.1 Design-Build: Planning Through Development
By: Jeffrey L. Beard, Edward C. Wundram, and Michael C. Loulakis
Design-Build (D-B) the project delivery system in which one firm
contracts to provide all of the architectural, engineering, and construction
services on a

project. The book

Design- Build Planning through

Development, by Jeffrey Beard, Michael Loulakis, Esq., and Edward

Wundram, cover every legal, technical, and administrative aspect of
Design-Build. Chapter 11 of the book

Conceptual Estimating and

Scheduling for Design-Build discusses the following heads:

How Estimating and Scheduling for Design-Build Projects Are Different
from Traditional Project Approaches and the Stages of Design-Build
Budgets and Estimates.

2.3.2 Project Administration for Design-Build Contracts:

A Primer for Owners, Engineers, and Contractors
By James E. Koch, Douglas D. Gransberg, Keith R. Molenaar,

The second chapter of this book discusses techniques and practices for
developing a cogent schedule of all design, logistical, administrative, and
construction activities.

2.3.3 A Guide to Project Management Body of

Knowledge, 5th edition

PMBOK provides a guideline for overall project management consisting of

chapters on all the aspects of project management. It also includes
chapters on Project Risk Management as Chapter-11. Risk management is
the systematic process of identifying, analyzing and responding to
potential project risk. It includes maximizing the probability and impact of
positive events and minimizing the probability and consequences of
events adverse to project objectives
Outcome: Understanding the following process in risk management

Risk Management Planning

Risk Identification
Qualitative and Quantitative Risk Analysis
Risk Response Planning
Risk Monitoring and Control

2.3.4 ISO 31000

ISO 31000: 2009 Risk management Principles and guidelines issued by
the International Organization for Standardization (ISO). It defines risk
management and various other jargons associated with it along with the
project management process.

2.3.5 IS 15883 Part 8 Risk Management

This standard is developed by Bureau of Indian Standard. This standard
(Part 8) covers guidelines for risk management aspects of construction
project management. The risk management aspects during the project
formulation and appraisal stage of the project are not covered in this
standard. The scope of this standard, therefore, covers the stages
subsequent to the stage of approval (when a decision to implement the
project including its financing is taken) till commissioning and handing
over of the project.