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A study on risk management practices in construction projects in India: from project organisation's perspective

Author

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  • Muthukrishnan Nagarajan
  • R. Ganapathi

Abstract

The research paper aims to examine respondent's profile, in percentage, so as to identify the results of covariance and analysis of variance between role and experience level, critical risks in construction projects based on response, correlation between performance indicators, the influence of overall performance on profitability of a firm, the reliability of performance indicators, and to develop a risk assessment and management model. The results revealed that there is a significant positive correlation between project quality, project cost control, and on-time delivery with overall performance, while procurement risk is the highest factor of risk as opined by the respondents among all other risks. The risk management cycle consists of nine kinds of processes: 1) risk identification and assessment; 2) risk budgeting and monitoring; 3) risk elimination plan; 4) risk register monitoring and controlling; 5) risk treatment process; 6) risk dilution performance; 7) risk significant impacts and mitigation; 8) reconciling risk budget; 9) re-structuring the risk budget.

Suggested Citation

  • Muthukrishnan Nagarajan & R. Ganapathi, 2023. "A study on risk management practices in construction projects in India: from project organisation's perspective," International Journal of Management and Enterprise Development, Inderscience Enterprises Ltd, vol. 22(2), pages 158-170.
    • Handle: RePEc:ids:ijmede:v:22:y:2023:i:2:p:158-170
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