Construction Project

Often, construction projects fail to achieve their time, budget, and quality goals. Recently, a number of systematic models have been proposed for use in the risk management process. This articlespokes about the process to perform an AHP (Analytic Hierarchy Process) for projects. This tools help to project manager to visualize if project shows high risk or low risk. In addition this tooldefines and segregates all risk in different categories. In construction projects various potential sources of risk could be identified such as, acts of God risks (these event occur as a result ofnature), physical risks (fall are associated with damage of a property), financial and economical risks(Inadequate sources of project funds), political and environmental risks(expropriation of thecontractor’s equipment by the host government), design risks(defective design including ambiguous specifications) and job site-related risks(availability and productivity of labor). In order to perform anapplication of this tool an AHP for construction project was developed. The project involves the construction of multipurpose bridge in the Jamuna River. Risk factors significant to this project wereidentified and results showed that the project is an overall low risk project.
As part of my current work, I had been the opportunity of participate of some construction projects. In manyoccasions FMEA (Failure Mode Equipment Analysis) were completed as part of risk assessment. These analyses are completed using historical information and supplier recommendations of the equipments. The mainobjective of this analysis is design in order to avoid future risks. In addition, during the project, the schedule is update according with the organization priorities. All used tools during riskassessment phase are important to define accurately the timeline, budget, resources and all requirements. Is very important forecast these kinds of unexpected things to assure the success of the project.