Risk assessment and modeling for underground cavern project construction

• Main Author: Chua, Aden Ming Jian.
• Other Authors: Tiong Lee Kong, Robert
• Format: Final Year Project
• Language: English
• Published: 2010
• Subjects: DRNTU::Engineering::Civil engineering::Construction management
• Online Access: http://hdl.handle.net/10356/39835
• Institution: Nanyang Technological University

This Final Year Project (FYP) Report covers the basic knowledge of risk assessment for an underground rock cavern construction project as well as developing a risk model for a case study. Even though there are several risks involved in a construction project, the main concern in this FYP report will be the economic risk factors such as the construction cost and time. Hence, these two factors will be of highest priority in choosing the type of risk analysis method to be used to perform the risk assessment. The different types of risk involved will be discussed followed by a brief introduction to the risk assessment methodology. In this report, a total of 12 different types of decision analysis methods pending to the risk factor will be discuss. The author will be giving a brief introduction and their methodologies for each individual method. Before choosing a method; the Monte Carlo Stimulation, which is most suitable to assess the economical risk involved for a case study – Vue des Alpes Tunnel in Switzerland. The main platform used to perform the Monte Carlo Stimulation is Microsoft Excel which is an excellent platform to be used to perform a simple Monte Carlo Stimulation. The results that will be obtained are the construction time and cost for the project during the construction phase. From the results, decisions can be made to decide on the most suitable construction method for a given ground condition.