Study of Practices in Qualitative Risk Assessment, Project Time Management Tools & Techniques, Time & Cost Overrun

Architecture & Planning

It is essential to study the practices adopted in different regions for qualitative risk assessment in project and time management and measures taken to overcome the failures in overall project management. It can be learnt from such a study that whether the construction companies are following the project management tools and techniques for effective execution of the plan in completion of the project successfully. Different regions follow varied aspects of project management dependent on the resource availability, costs and labor work culture in the respective region. Certain regions may discover new models specific to their problems and introduce the same for effective realization of solutions. Identification of the risk factors affecting the project well in time is important so as to tackle with such risk factors. Study shows that there is lack of usage of risk assessment tools and techniques during construction project management and hence affects on project time management, costs and labor intensive. Also it increases the risks during project execution and has hazards on health and safety. Time overrun and cost overrun are the main issues arisen due to improper project management.

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