Comparative risk analysis of construction sectors: A case study

Construction project like Highways and Residential construction are basically service oriented and different activities are involved in completing the project. Hence this poses a severe challenge in coordinating so many activities and aligning them to deliver the project on time, high standards of quality and within the budget. In these circumstances implementing this model for risk analysis at the planning stage itself plays a pivotal role for the success of the project. This paper focuses more on risk analysis in construction sectors namely residential & highway project. The work is carried out by preparing the detail project report for the highway project & residential project which includes questionnaire survey, work breakdown structure, planning the activities, scheduling, risk analysis & risk mitigation. The schedule is prepared using PERT method in MicMSP and it is integrated in risky project software for implementing the quantitative risk analysis technique using Monte Carlo Simulation for the on-going project to predict the final cost and duration of the project