Quantitative Risk Assessment of Factors Affecting Construction Projects

ABSTRACT Unexpected increase in cost and delays in construction projects are caused by owner, contractor, environments...etc. in which several types of risk factors may occur concurrently. The effect of cost overrun and schedule overrun do not only influence the construction industry but the overall economy as well. Even though construction project increasing in cost and schedule have received extensive attention of researchers, risk response was not treated well in the literature. In order to meet the deadline of a project and due to the complex nature of construction projects, cost and scheduling should be flexible enough to accommodate changes without negatively affecting the overall project cost and duration. As such, the objectives of the presented research in this paper are to identify, study, and assess the effect of the factors that affect cost and time contingency. Data are collected from sixteen construction companies in Egypt. Keywords: cost overrun, schedule overrun, likelihood, probability, scale