Profiling risk management through enhanced visualization

Rao, Anand N S and Ramamurthy, Nagesh K and Gowda, Chethan S and Rao, Prakash B (2013) Profiling risk management through enhanced visualization. In: National Conference on Emerging Business Opportunities and Challenges, March 22 and 23 2013, R.V Institute of Management.

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Abstract

Construction projects are unique and involve a temporary team that is put t.og ·tbbased on varied experiences vis-,\-vis the requirement oftlle projeCl.lndividnals a team are brougbHlp'in varied culture, arc from different gcog;'<iphieallocalll)n Ul1ured in varied environment. This raises several complexities in constru ti projects to greater heights. The risk identification, assessment and risk respOnsl are visualized in different forms and degrees by individual team constituents. Tit triggers the need of an effective risk management syst.em. In comparison t.o a industries in our country, construction industry is at the pinnacle for use quantum of resources - men, material., machinery and money. The interactic amongst these resources being complex, the failure in the project objective higher. Due to advancement & advent of t.echnology there are cases WI1\;lresources becoming obsolete or require higher level of involvement, tit complexity heightens project risks. Handling this challenge in the projecl construction life cycle itself inflicts greater understanding of process un procedure to identification of risks and responses to them. Followin understanding the various methods to manage risks in planning phase ofprojcct: the aim of this study is to recognize essentials to identify, quantify, qualify, aSSet;:model responses in projects.

Item Type: Conference or Workshop Item (Paper)
Subjects: Engineering > MIT Manipal > Civil Engineering
Depositing User: MIT Library
Date Deposited: 01 Feb 2014 06:50
Last Modified: 01 Feb 2014 06:50
URI: http://eprints.manipal.edu/id/eprint/138573

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