A Framework of Project Risk Management for the Underground Corridor Construction of Metro Rail

Sarkar Debasis and Goutam Dutta

No WP2011-02-05, IIMA Working Papers from Indian Institute of Management Ahmedabad, Research and Publication Department

Abstract: In this paper, we discuss a method of measurement of project risk, based on the expected value method (EVM). Project risk management primarily comprises cost and schedule uncertainties and risks associated with each activity of the project network. We have identified the major risk sources and quantified the risks in terms of likelihood, impact and severity in a complex infrastructure project for the construction of an underground corridor for metro railways. A case study of the underground metro corridor in the capital city of an emerging economic nation of South Asia has been considered for this research work. The methodology for this work was the response from the experts associated and involved in this and other similar projects in metro rail. The risk analysis for the determination of risk cost, risk time, expected cost and expected time of the project has been carried out by the expected value method. Based on this study we find that the project cost overrun and time overrun can be about 22.5 % and 23.4 % respectively, if we use the expected value method.

Date: 2011-02-15
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.iima.ac.in/sites/default/files/rnpfile ... -05DebasisSarkar.pdf English Version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:iim:iimawp:9960

Access Statistics for this paper

More papers in IIMA Working Papers from Indian Institute of Management Ahmedabad, Research and Publication Department Contact information at EDIRC.
Bibliographic data for series maintained by ().