Managing Risk in Construction Industry Using Probability and Impact Method in Mumbai Region

Paper Topic :

Expert approaches

Author Name :

Kumail Holawala, Sahajanand Kamat

Abstract :

Implementing risk management in construction project may bring a number of benefits and therefore it is necessary to have construction management as an integral part of construction organization management practice. Establishing risk management procedure improves the performance as well as increase the profits. In this paper present various types of risk analyzed by interview and meeting conducted with contractors and developers. And the risk is analyzed on the basis of probability of occurrence of that risk and impact of that risk on that project by using probability and impact method on time, cost and quality of the project.

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