Abstract: Risk management in construction industry is one of the important processes of construction management to achieve project objectives and minimize potential risks . Construction projects have been distinguished from other projects in different industries by their uniqueness and complexity. Many types of construction industry in EGYPT were studied such as infrastructure, public buildings, housing projects and power station projects, these kinds of projects have a huge development due the increasing demand for such kind . Risk factors affecting negatively this industry are attributed to many sources as these risks cause cost overrun and/or schedule delay in many construction projects. As per PMBOK 2018 , plan risk Responses is the process of developing options, selecting strategies, and agreeing on actions to address overall project risk exposure, as well as to treat individual project risks. The key benefit of this process is that it identifies appropriate ways to address overall project risk and individual project risks.
The purpose of this research is to achieve and propose an integrated and coherent risk response approach to improve and develop risk management processes , mitigate threats , maximize response influence , alerting & advising stake holders to insure project success and overcome obstacles with the lowest expected losses .
In the main research many steps were conducted starting by literature review , identifying the risk factors and sources using extensive survey through experts representing huge companies in construction fields . Then an a questionnaire was designed & distributed to prioritize these factors regarding their probability and consequences on both time and cost. According to their relative important index , a statistical analysis for all collected data was carried out using (Statistical Package for the Social Sciences) SPSS Ver.23 software . In parallel an extensive survey was conducted to collect data of 32 real existing mega projects during last ten years with a total budget of 330 billion EGP. These data includes real indications , impacts and deviations regarding the main parameters adopted in this research , time & cost , then a forecasting model was developed using Crystal Ball software ver. 11.1.2.4 , the entire range of results possible for a given situation with a specified confidence levels by studying the top 20 risk factors affecting time and cost and their impacts on the case studies of projects with the highest schedule and cost deviations . Finally, a survey was distributed to experts to identify the most effective responses for these risks. The result was adding 78 new responses by the respondents beside the original questionnaire 80 responses .
Keywords: Risk assessment , qualitative , quantitative , schedule deviation , cost deviation , probability, impact , relative important index , response planning , simulation , forecasting , statistical analysis.
Title: Risk Response Planning for Top Risks Affecting Schedule and Cost of Mega Construction Projects in EGYPT
Author: Amr Afifi Abdul Hamed, Adel Abo El-yazid El-samadony, Ahmed Mohammed Abdelalim
International Journal of Civil and Structural Engineering Research
ISSN 2348-7607 (Online)
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