Assessment of constructability and financial aspects of risks in construction industry using design expert

Abstract

Construction industry which has a dynamic environment due to its uncertainties and risk, which leads to delay in time of completion of a project. On this developing world construction industry is also changing a lot in ways of private investors and real estate promoters and implementation new technology in the project. The risk in the project causes time delays, cost overrun, unsatisfied customers, increase in labour cost, high investment. In these risk some can be predicted and some are unable to predict.  On this circumstance there is a need of risk assessment. From the literatures we have identified the factors which causes the risk in the project. The risk are mainly classified into constructability risk and financial risk. Constructability risk is in which includes the risk associated with the construction, management, procurement, technology, environmental etc., Whereas financial risk is associated with the political, price etc., The questionnaires were prepared and distributed. Totally 125 responses were collected. The collected data’s are to feed through excel sheet. There are some various methods to analysis. In this neural net, anova matrix decision tree are choose to analysis the factors. This results that 6 factors of financial risk and 5 factors of constructability risk are found. These 11 factors are taken to the next analysis which is done in design expert software. In design expert RSM is used for the analysis. For the constructability and financial risk analysis is done separately for both we conclude through anova table, fit statistics and a final equation is arrived. Two equations are arrived for both Constructability risk and financial risk. We conclude that Enterprise development is stagnant, Corruption and bribery effects, Increment of staff benefits, Fluctuation in estimated finance than expected, Revision of price of materials, Recession in infrastructure field. The constructability risk factors are Non availability of labours, Changing sequence in construction activity, Service for damaged equipment’s, Appropriateness of specifications, Incomplete design are the most important factors which affects the construction process. To avoid these risk proper risk assessment to be done before the start of the project and take necessary precautions to avoid, reduce, the risks in the projects