Risk Management In Road Construction

997 Words4 Pages
Risk management in road construction projects

2. Name and qualifications of the proposer:

Bushra Mahdi Kharif Hug Esh-Shaib ,MBA ,University of Science and Technology , Omdorman ,Feb. 2011.

3. Introdution:

A road construction project is a temporary endeavor undertaken to create a unique product, (the road),with a defined scope ,budget and time schedule. The project risk is defined as (( uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives such as scope, schedule, cost, and quality)). Project Risk Management includes the processes of conducting risk management planning, identification ,analysis, response planning, and controlling risk on a project. The objectives
…show more content…
It increases the chances of success of any project up to a great extent .It save the projects from harmful effects of financial, social, cultural, environmental and other related risks ,and offer the opportunity to the stake holders, to generate extra revenues through their project. Due to poor economic conditions and tough competitions, organizations have to face various risks at a time. Although, the extent of these risks may vary but risks in general affect the productivity of any project. Risk management is the only way to remain safe from adverse effects of project risks, and to seize the opportunities of the good effects. Since the risk management have that importance , and roads construction projects are huge and expensive, then conducting risk management planning, identification ,analysis, response planning, and controlling risk ,on a road construction project is vital , for all parties of such project .Even the awareness of risk management is important to them.
The project risk management primary goal ,is either to develop a credible foundation for each project, showing its possibility, or to demonstrate that the project is not feasible so that its avoidance, abortion, or transformation is a
…show more content…
Awareness of project exposures for the project team, showing how painful the problems might be, and when and where they might occur ,can be built after risk assessment. This causes people to work in ways that avoid project difficulties. Risk data can also be very useful in negotiations with project sponsors. Using information about the likelihood and consequences of potential problems gives project teams more influence in defining objectives ,determining budgets, obtaining staff, setting deadlines, and negotiating project changes.

4. Objective(s) :

Mainly the previous literature is devoted to the project risk management .This research will devoted to risk management in road construction, it will narrow the field of the research ,but will make it more concentrated in one industry. By increasing the awareness of risk management in a road construction project, each participant ,can transparently and rationally took and accept his role in that project, risk management.

5. Material and methods:

The comparative research method will be used , to compare between what is going in foreign countries , as prescribed in the published literature ,and what is exactly running in

More about Risk Management In Road Construction

Open Document