A SYSTEMATIC APPROACH FOR EVALUATION OF RISK MANAGEMENT IN ROAD CONSTRUCTION PROJECTS - A MODEL STUDY

Generally, infrastructure projects carrya substantial risk. Mainly, this paper points out the risks related to the road construction projects in India. As India is a rapidly growing country to meet the transportation needs, road construction projects are given major importance. This paper focuses on identifying thecommon risks in infrastructure projects. Almost 44 major risks were identified through arigorous literature survey. Out of which top 13 most common risks are collected by aquestionnaire survey of construction professionals. Their opinions are analyzed by using SPSS software. The data are given weightage based on importance and probability of occurrence and are ranked accordingly. This data helps the project manager to better estimate the priority of risks and helps them in developing proper mitigation measures at the initial stage of the project itself to save cost and time.