Project risk management for underground construction project

• Main Author: Yeo, Jun Ning.
• Other Authors: Tiong Lee Kong, Robert
• Format: Final Year Project
• Language: English
• Published: 2013
• Subjects: DRNTU::Engineering::Civil engineering::Construction management
• Online Access: http://hdl.handle.net/10356/53934
• Institution: Nanyang Technological University

This Final Year Project (FYP) Report covers the risk management for an underground construction project, and development of a cost-benefit risk assessment framework for scenarios based on a local underground cavern project. The main focus of this report is the economic risk factors such as the excavation time and cost of an underground project. The report includes the discussion of the increasing needs to develop a systematic risk analysis framework as part of a risk management procedure. Risk types and risk management processes are provided for a better understanding of overall risks, which also include the various studies of construction types and rock mass classifications. The Q parameters are of a great significance importance for this project the parameters are use for developing the simulation. Monte Carlo Simulation is selected to perform quantitative analysis on parametric studies with some assumptions according to scenarios based on an actual underground cavern project data. The simulation results will be generated as construction time and cost for the project which can be used for duration and costing assessment by contractors, clients and engineers. From the simulation output, it is noticed that the duration and time simulated could match up to the actual construction information given. Thus, to this end of managing risk of project over run in cost and duration, information of drilling speed and excavation rate should be kept in a database for future reference.