Karmarkar, O D; Krishnan, S G; Delhi, V S K and Velaga, N R R (2022) Risk assessment of underground and elevated metro projects from clients' and contractors' perspective. Built Environment Project and Asset Management, 12(6), pp. 887-905. ISSN 2044-124X
Abstract
Purpose: India is a rapidly urbanizing developing country with a population of 1.4 Billion. Indian governments have invested USD 50 Billion) in metro rail projects in 18 cities. Metro constructions are multi-stakeholder mega-projects and are prone to a variety of risks. The purpose of this paper is to analyze the risks involved in metro rail construction projects in a densely populated developing country for two types of systems and from two perspectives. Current literature lacks an understanding of similarities and differences in the risks involved in underground and elevated metro projects from clients' and contractors' perspectives, which the paper highlights. Design/methodology/approach: A total of twenty-five risks were identified, categorized and assessed through experts' opinions about the impact and probability of occurrence of the risks through a questionnaire-based survey. The survey respondents included experts in metro rail construction from client and contractor sides. Paper uses a Fuzzy Inference System to calibrate risk magnitude from occurrence probability and impact. Findings: A notable difference was observed in the views of clients and contractors, except for certain common risks. Both stakeholders had different risk perceptions for the underground and elevated metro rail systems. Practical implications: This study contributes to the risk assessment for different types of metro systems. This research can help policymakers as well as consultants in prioritizing their risk management strategies in developing countries like India. Originality/value: Highlighting the critical aspects of risks in metro projects in a developing country, this paper also provides system-based and stakeholder-based comparative aspects of risk analysis.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | developing countries; fuzzy set theory; metro rail; risk assessment; stakeholder analysis |
| Index terms: | developing country, prioritizing, fuzzy inference, stakeholder analysis, risk perception, strategy, survey, fuzzy set theory, methodology, risk assessment, construction project, population, risk management, questionnaire, risk analysis, India, railway construction |
| Subjects: | environmental hazards, decision-making and optimization, decision analysis, demography, development economics, financial risk, production management, Geography, research methods, civil engineering, management, participation process, data collection methods, risk assessment |
| Topics: | Urban Studies, International Construction, Business Strategy, Cost Management, Engineering Principles, Research Practice, Project Management, Geographical Context, Risk Management, Stakeholder Management, Sustainability |
| Descriptive scope: | 5 PCTEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here