The implementation of analytical hierarchy process in risk assessment in a residential project

Risk is defined as the effect of uncertainty. Uncertainty means deficiency of knowledge, information and resources. Risk adversely affects the project. Thus, focus is to identify factors that influence the smooth completion of a project. The study of Risk Management basically follows four steps namely – risk identification, risk assessment, risk response and risk monitoring. In order to find out the factors that influence the smooth completion of the project, a case study of a residential building was chosen in Bangalore, India. Risks were identified through the literatures of risk management, ISO records and opinions of experts of the project. As the factors are represented in qualitative terms, Analytical Hierarchy Process (AHP) is used for risk assessment. The result of the study is listed, in which the percentage contribution of various factors to smooth completion is shown. The output helps the management of construction companies in identifying the type of risks which are most likely to occur, so that it can be mitigated in the future. This study shows that project manager related risk factors has the highest priority in affecting the completion of the project followed by resource and quality assurance factors.