Civil Engineering

Risk management, assessment and communication in Civil Engineering

[Name of student]

Risk management, assessment and communication in Civil Engineering

Introduction

It is the process in which the organization will spy out all the possible hurdles that can occur in the flow of business. This study is the analysis of the risk factors which can occur during the construction of Office in downtown Houston. Here the more focus is of having much space in comparison to the workforce of office. Before constructing this building the management and the construction managers have decided to construct a hypothetical situation and figured out all of the risk possibilities. These risk possibilities are considerably discussed in the later part of study (Crouhy, Mark, 2006, pp. 101-103).

Risk management has become very important these days and has become a challenge in the construction industry. The management of risk is very important and different tools should be used for managing and mitigating risk in the organization. The purpose of this paper is to analyze and study the methods and sources of construction project risk. This will also include how to avoid and mitigate the construction project risk. The main disastrous failures that can take place either during the construction project or after its completion will be discussed, which will include the approach to reduce / mitigate and avoid risk (Frenkel, Hommel, Rudolf, 2005, pp. 45-49).

Risks in civil engineering

There are many of the construction risks which can occur during this building construction. Most common risks involve, any miss-happening occurred by the builder. However, other construction risks involve minor errors of not fixing material in a right way which could result in major issues later after construction. In civil engineering, immense risks are there on both onsite and offsite settings. Thus identifying the sources of the risks is very important for selecting and adopting the appropriate strategies. The major risks in civil engineering are of severe sorts and no risk can b neglected as a minor one, since a minor risk can lead to a series of hazardous cum uncontrollable risks (Love, Davis, Chevis, & Edwards, 2010, pp.127-136).

Risks can be identified and analyzed from a classification table of the major risk categories broken down into subcategories for each field of activity and profession. The RBS (Risk Breakdown Structure) i.e. structured decomposition risk (Crouhy, Mark, 2006, pp. 101-103):

Strategic risks (associated with doing or not doing the project)

The risk decision making (decisions related to the project manager)

The industrial and commercial risks

The risks of R & D

Technological risks

Contractual risks

Financial risks

Political risks

Social risks

Normative and regulatory risks

Risk management in civil engineering

The process of risk management in construction projects in civil engineering follows a series of crucial steps. These steps are:

Risk management planning;

Risk identification;

Qualitative risk analysis;

Quantitative risk analysis;

Risk response planning;

Risk monitoring and control.

All of these steps should be followed in sequence since it is very important for the flow of the whole process of risk management in construction projects. Risk management is the most ...