RISK ANALYSIS IN CONSTRUCTION

This paper discusses Construction Risk Analysis (CRA), which is concerned only with the construction phase of a structure such as a bridge or tunnel, and is thus complementary to Operational Risk Analysis. CRA aims to: (1) identify the hazards to project construction, which threaten completion on time and on cost; (2) develop a strategy to limit and control the hazards (risk management); (3) identify risks to be transferred to insurers; (4) allocate risks within contracts; and (5) provide quantitative estimates, during each stage, of the likely project construction results in cost and time. The application of CRA to the construction of the Oeresund Link between Denmark and Sweden is discussed as a case study. CRA's full benefits here will not be known until the project's completion around the year 2000, but benefits arising as hazards are identified and mitigating measures are implemented. For the covering abstract see IRRD 880139.

Language

  • English

Media Info

  • Features: References;
  • Pagination: 6 p.

Subject/Index Terms

Filing Info

  • Accession Number: 00724166
  • Record Type: Publication
  • Source Agency: Transport Research Laboratory
  • ISBN: 0-7210-1495-X
  • Files: ITRD
  • Created Date: Aug 19 1996 12:00AM