Identıfıcatıon Of Sıgnıfıcant Rısk Attrıbutes Causıng The Overruns Of Raılway Constructıon Projects In Indıa

Abstract

The increase in the time and cost of the projects is a major concern with India's infrastructure sector. Any overrun of the infrastructure project would result in tremendous losses for the nation as it uses money from the taxpayers. The railway sector is facing huge time and cost overruns of the infrastructure project. In this research, the effort has been made by the Author to identify the significant risk attributes casing that causing the time & cost overrun of the railway projects. Also, based on the relative ranking tool, the ranking of the risk attributes have been performed, and the top 10 risk attributes were identified.

Methodology: on the basis of literature review and pilot study, eighty-four risk attributes have been identified. The questionnaire survey is being conducted on the professionals working in the railway project. The data analyzed using Relative Importance Index (RII) and presented in the form of mean weight, RII and rank of the attributes.

Main findings: The top five risk attributes causing the overruns of the railway construction project are presented in ascending orders are; Land acquisition and site handover, Delay in decision making, Permissions, approvals & statutory clearances, Poor project management and delay in approving changes.

Social Implications: The ranking further helps to prioritize risk to provide possible ways to mitigate the occurrence in future and provide an opportunity for risk management in a reduction in time and cost overrun.

Novelty/Originality of this study:

The study-related time and cost overruns of the railway projects have not been carried out in the past in India. The research work is the Author's sole contribution and is focused on the understanding of the key risk faced by the project team working within the railway project. The study will benefit Indian railways and stakeholders to manage the railway infrastructure projects.