Dissertation: Risk Assessment Management in Construction Engineering (Focus On Indian SMEs)

Running head: DISSERTATION
Dissertation: Risk Assessment Management in Construction Engineering (Focus On Indian
SMEs)
Name of Student
Name of University
Author Note

DISSERTATION
Acknowledgement
Working on this research has helped me in enhancing the knowledge and understanding related
to the research project. The research project has helped me to face the challenges and has further
helped me to conquer the challenges faced. I will be thanking my lecturer and my supervisor for
giving me the necessary guidance. I will be thanking my friends and my family members for
motivating me to deliver this project.
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DISSERTATION
Abstract
The project discusses the major risks and issues related to construction industry with focus on the
construction Industry of India. The research evaluates the need of managing the risk in that
industry. The risks linked with the construction Industry of India is evaluated in this research.
The research focuses on evaluation of the need of risk assessment and managing the risks in
construction Industry of India. The risk assessment is mainly focused on Indian SMEs. The
various issues related to risk management process is evaluated in this research by focusing on
Indian SME. The researcher provides a brief idea of risks in projects linked to construction and
the process by which those risks can be mitigated. The research involves analysing the primary
data that establishes the genuineness of the obtained data. The primary data is obtained from the
individuals who have experience in construction Industry of India. The research indicates the
future scope of the undertaken research along with its limitations. It is evaluated that operational
and compliance risk are the two significant risks in construction. In construction industry of
India, effective elimination of the risk related to safety is essential. The research identifies the
mitigation approaches of the risks and issues linked with construction Industry of India. In
construction Industry of India, a planned approach of management of risk is needed to be
followed in projects to address all the major issues related to construction.
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DISSERTATION
Table of Contents
Table of Tables....................................................................................................................6
Table of Figures...................................................................................................................7
Chapter 1: Introduction........................................................................................................8
1.1. Background of the study...........................................................................................8
1.2. Research Aims and Objectives...............................................................................10
1.2.1. Aims of the study.............................................................................................10
1.2.2. Objectives of the study....................................................................................10
1.3. Research Questions.................................................................................................11
1.4. Problem Statement..................................................................................................11
1.5. Rationale of the study.............................................................................................12
1.6. Structure of the Study.............................................................................................13
Chapter 2: Literature Review.............................................................................................15
2.1. Introduction.............................................................................................................15
2.2. Risk assessment and Management..........................................................................16
2.3. Construction Risks..................................................................................................20
2.3.1. Specific Aspect of Construction Risk in Indian SME.........................................23
2.3.2. Safety hazards related to Construction: Focus on Indian SMEs......................23
2.4. Need of Risk Management in Indian Construction Industry (SMEs).....................23
2.4.1. Major Risks in Construction Industry..............................................................25
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DISSERTATION
2.4.2. Effects of those risks in Construction Industry................................................28
2.4.3. Risk Assessment..............................................................................................30
2.5. Importance of Risk Assessment in Risk Management...........................................31
2.6. Risk Identification and Mitigation..........................................................................32
2.7. Strategies of effective risk identification and mitigation........................................35
2.8. Chapter Summary...................................................................................................36
Chapter 3: Methodology and Research Activity...............................................................37
3.1. Introduction.................................................................................................................37
3.2. Method Outline...........................................................................................................37
3.3. Research Philosophy...................................................................................................38
3.3.1. Justification for Positivism..............................................................................39
3.4. Research Approach.....................................................................................................40
3.4.1. Justification for choosing deductive research approach..................................40
3.5. Research Design.........................................................................................................40
3.5.1. Justification for choosing Descriptive research Design...................................41
3.6. Data Collection Process..............................................................................................41
3.7. Sampling Method........................................................................................................43
3.7.1. Sample Size.....................................................................................................43
3.8. Data Analysis Process.............................................................................................44
3.9. Ethical Consideration..................................................................................................45
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DISSERTATION
3.10. Chapter Summary.....................................................................................................46
Chapter 4: Results and Analysis........................................................................................47
4.1. Introduction.............................................................................................................47
4.2. Data Analysis: Quantitative....................................................................................47
4.2.1. Demographic Data Analysis............................................................................48
4.2.2. Quantitative Data Analysis..............................................................................52
Chapter 5: Discussion and Recommendations..................................................................62
5.1. Introduction.............................................................................................................62
5.2. Discussion...............................................................................................................62
5.2.1. Risk management process................................................................................67
5.3. Recommendations...................................................................................................69
Chapter 6: Conclusion, Key Findings and Future Work...................................................71
6.1. Conclusion..............................................................................................................71
6.2. Linking with Objectives.........................................................................................72
6.3. Limitations of research...........................................................................................74
6.4. Future scope of the study........................................................................................74
References..........................................................................................................................75
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DISSERTATION
Table of Tables
Table 2: Representing data about Gender of the Respondents..........................................48
Table 3: Representing data about the experience of the respondents................................49
Table 4: Experience of the research respondents in Indian construction Industry............50
Table 5: Experience of the research respondents in Indian construction Industry............51
Table 6: Most prominent risk construction Industry.........................................................52
Table 7: Representing data regarding Construction Industry a Risk Prone Zone.............53
Table 8: Representing data regarding the difference of risk management in India and UK
.......................................................................................................................................................54
Table 9: Representing data regarding safety risk in Indian construction Industry............55
Table 10: Representing data regarding the need of continuous Risk Assessment............56
Table 11: Representing data regarding the need of improvement in Indian construction
Industry..........................................................................................................................................57
Table 12: Representing data regarding improper risk management as a reason of project
delay...............................................................................................................................................58
Table 13: Representing data about the need to educate the team about risk management
frameworks....................................................................................................................................59
Table 14: Representing data about the need to educate the project team regarding the
most common risks in construction...............................................................................................59
Table 15: Representing data about the need to educate the project team regarding the
safety risk in construction..............................................................................................................60
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DISSERTATION
Table of Figures
Figure 1: Representing data about Gender........................................................................48
Figure 2: Representing experience of the respondents in construction Industry...............49
Figure 3: Representing experience of the respondents in Indian construction Industry....51
Figure 4: Representing the most prominent risk................................................................63
Figure 5: Representing knowledge about most common risk...........................................64
Figure 6: Representing knowledge about most common risk...........................................65
Figure 7: Representing the response related to improper risk management as reason of
project delay...................................................................................................................................66
Figure 8: Representing whether construction industry is a risk prone zone......................67
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