Paper Title
Ranking of Construction Risk Factors affecting on Oil and Gas Construction Projects
Abstract
Risk management is an important field of construction industry and has gained more importance internationally due to the latest research carried out on a large scale. However, this relatively new field requires more attention to bring some benefit. Construction projects are facing several risks which have negative effects on project objects such as time, cost and quality. In this study the various risk factors under construction field are evaluated with the help of a survey. The survey consists of questions both demographic and evaluate factors responsible for risk factors, finally 105 responses were received and considered further for the study. Totally 12 construction risk factors are considered in the study which affects oil and gas projects, these 12 risk factors are ranked based on the ranking score obtained. Among the risk factors “Improper construction practices and workmanship leading to rework, repair and rejection” ranked first. These several risk factors are statically analysed and found that there is significant difference among the working experience and job position of the responses with the risk factors.
Keywords - Risk Management, Survey, Risk Factors, Ranking Score.