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Research In Project Management

Part 1: The selected scholarly articles that are relevant to my topic “Risks in construction projects in India” are as follows:

Purpose:The purpose of this study is to evaluate a risk management framework for the purpose of risk management of construction projects. The project has developed a framework combining the Analytical Hierarchy Process (AHP) and methods for risk map. The aim is to present a comprehensive framework after conducting a thorough analysis of several models like network analysis and matrix propagation. It also aims at combining and amending some of the models in order to overcome their demerits or limitations.  

Method:The project is completed by conducting primary data collection. The research is conducted on the grounds of an ongoing construction project in India. Two questionnaires were prepared and provided to different stakeholders such as sectional engineers, deputy engineers, architects, accounts officers, executive engineers, planners and people from top management of the organization.  The project is an amalgamation of both qualitative and quantitative research methods as the quantitative data is collected from the questionnaire and qualitative data is collected from interacting with the stakeholders. 

Key concepts:The project mainly centres on the identification of the key risk factors. It develops Analytical Hierarchy Process (AHP) model and has provided an elaborated analysis of stages of AHP and risk map.

Findings: The project has identified the major risks associated with the mentioned project in Maharashtra. After analysis the questionnaire and the arithmetic matrix filled by the respondents, the project has identified the top 10 risks associated with the project. 

Significance/Implications:The research project is significant in several aspects. This is impo ........

mbining the Analytical Hierarchy Process (AHP) and methods for risk map. The aim is to present a comprehensive framework after conducting a thorough analysis of several models like network analysis and matrix propagation. It also aims at combining and amending some of the models in order to overcome their demerits or limitations.  

Method:The project is completed by conducting primary data collection. The research is conducted on the grounds of an ongoing construction project in India. Two questionnaires were prepared and provided to different stakeholders such as sectional engineers, deputy engineers, architects, accounts officers, executive engineers, planners and people from top management of the organization.  The project is an amalgamation of both qualitative and quantitative research methods as the quantitative data is collected from the questionnaire and qualitative data is collected from interacting with the stakeholders. 

Key concepts:The project mainly centres on the identification of the key risk factors. It develops Analytical Hierarchy Process (AHP) model and has provided an elaborated analysis of stages of AHP and risk map.

Findings: The project has identified the major risks associated with the mentioned project in Maharashtra. After analysis the questionnaire and the arithmetic matrix filled by the respondents, the project has identified the top 10 risks associated with the project. 

Significance/Implications:The research project is significant in several aspects. This is important as this develops two major frameworks that are beneficial for analysing the major risk factors and how they can be mitigated.   

Limitation:This research paper develops two major frameworks for risk assessment. This can be used for future purpose.  However, some part of the paper is omitted which could have included potential information regarding the paper.  Political risk is a major barrier for the construction projects in India. However, the research paper does not highlight on this major aspect.

Reflection: To me this research paper is highly beneficial for having proper understanding risks in contraction project in India. In the first place this paper is reliable it is a peer reviewed journal. Secondly, it is based on a then ongoing project in India. As the paper and the risk assessment frameworks are evaluated on the basis of a then ongoing project in India, from this project I can understand such risk factors which are more relevant in the case of India.   

2. Pawar, C.S., Jain, S.S. and Patil, J.R., 2015. Risk Management in Infrastructure Projects in India. International Journal of Innovative Research in Advanced Engineering (IJIRAE) Issue, 4.

Purpose:The purpose of this study is to analyse the major risk factors that impacts and hinders the smooth functioning of construction projects. It also aims at developing risk assessment models that are beneficial for mitigating the risk factors. 

Method:It is a descriptive research project. It has used the practical case studies as well as experiments. The data have been collected from secondary sources both the quantitative and qualitative approaches have been used in this journal. While focusing on the technical procedure of the research, it must be mentioned that bibliographic research and action research have been done. Applier result for the research has been generated.

Key concepts: The key concept of this project includes construction projects, risk management, risks, qualitative risk analysis and contract.

Findings:this paper has identified some risks those are related to this sector in India. It has suggested that risks can be reduced by allocating the responsibilities among several agencies. Even, the risk management policies should be implemented as well as regulated frequently.

Limitation: The project should have included more information regarding the risk mitigation strategies asitonlyfocuses on identification of them. 

Significance/Implications:This project is significant as this provides analysis of a huge number of risk factors associated with construction projects.   

Reflection:I have selected the project because it is developed from the perspective of construction industryand this is beneficial for having a clear perception regarding the construction risks. One of the major reasons for my selection of the project is that, the project is able to identify the lack of administration as a major risk for the construction projects. It has used the knowledge of process-constructivists sequent steps. This lack of administration is connected with the political risk of construction projects; this enables me to have a brief understanding of how lack of administration or political harmony can hamper the construction works. This is also a peer reviewed journal and therefore is highly reliable.  It has suggested some ways by which the risks can be reduced. It means this paper can be used as an analysis of risk reduction and a guidebook for getting more benefit in construction sector too.

3. Bhandari, M.G. and Gayakwad, P.G., 2014. Management of Risk in Construction Projects in Maharashtra. International Journal of Engineering Science Invention, 3(1), pp.14-17.

Purpose:The main goal of this project includes the comprehension of risk management in construction project management. It has provided understanding of risk management in construction project along with the responsibilities of project managers and risk managers.  Even, it has demonstrated the significance of developing soft skills in risk management as well.

Method:The methodological approach of this project has involved a survey of four hundred fifteen projects. All of them belonged to different complicated levels and they have their significant positive influences too on the success of the projects. It has used the non-probability samples. The questionnaires have been conducted on the basis of the perceptions of the respondents. 

Key concepts:The key concept of the project has included project risk management, typology of the projects, project complexity and innovation management. It has mainly focused on the findings of risks those may hamper the construction industry in India.

Findings:It is observed that the reduction in the revenue gained from operation can result into the deficit of project fund. In order to deal with this revenue risk the government must come forward. This dilemma can be removed by adaptation of traffic revenue guarantees. The project also provides some others solutions for the risks in India. It has identified several risks related to political, social, environmental, financial, etc.

Limitations: This research has shown the limitations which has been inherent in the methodological choices that have been adopted for the research field. First of all, adoption of non-probability sampling and composing questionnaire on the basis of the perception of respondents may lead a bias ness in the result. Other than that, it should produce more dynamic concept of construction projects’ risks.

Significance/Implications: As the project deals with the construction project risks in public-private partnership,this project is beneficial for having a clear understanding of how the involvement of political bodies influences the functionalities of the construction projects.  

Reflection: I have selected the study as this provides a new approach for risk mitigating. The concept of risk management is an entirely new concept to me. The paper has described several aspects associated with the adaptation risk management factors convenient and effective manner. This paper is also reliable as most of the analyses are present in a scientific manner. Theproject however has used some arbitrary data. However, it does not undermine the effectiveness of the project as most of it includes mathematical calculations and the outcome can be determined by using the identified data. I have gotten an idea how different kinds of risks can hamper the construction sector of India as well.

4. Maniar, H., 2010. Risk Analysis of Infrastructure Projects: A Case Study on Build-Operate-Transfer Projects in India. IUP Journal of Financial Risk Management, 7(4), pp.34–54.

Purpose: The main purpose of this study is to understand the critical risks that are associated with the investments in the Build-Operate-Transfer infrastructure projects in India. There are some common risk factor within the infrastructure industry of India such as cost overrun, delayed approaches, land acquisitions, changes in law, financial closing and more such factors.  The factor responsible for arising risks in the infrastructure industry will be highlighted in this study. This paper will elaborate about the risks and provide measures that can be taken in order to mitigate the risks.

Method: This study will be conducted with the help of both quantitative as well as qualitative research method that will include 5 basic stages; this research method will help in collecting detailed information for the study. The data for the paper will be collected with the help of 50 respondents who will be surveyed with the help of a questionnaire that will focus on the different risks that are faced by them during conceiving to commissioning stages. Thus, the information collected will be accurate and provide adequate information for the study.

Key concepts: The literature review will provide the lessons that were learned with the practices of BOT projects in different developing countries, concentrating especially in India.The survey conducted in this study will be helpful for the final development of the chart.  The methods used in this study will gather quality data for the study that will provide major information about the infrastructure industry of India and other developing country.

Findings: The findings of the research paper have observed that the BOT infrastructure projects help the provincial, national and the city government in examining the approaches to the service support. It was further identified the mechanism to improve coordination and communication links between the different levels of the government. A second opinion concerning the developed mechanisms in different government agencies from individual BOT has been identified.

Significance/Implications: The significance reason behind the implication of this research report is that the development of the Indian infrastructure sector has been comparatively slow as compared to the manufacturing and industrial sectors. Shortage of energy, insufficient transportation network, and inadequate water supply has resulted in a hold-up in the economic growth of the country. The Build-Operate-Transfer (BOT) scheme at present is turning out to be one of the current methods used for infrastructure development in India and to meet the requirements of its future economic development and growth. Therefore, it is essential to critically investigate the risk associated with Build-Operate-Transfer.

Limitation: The main limitation that has aroused isthe increasing market risk due to the reason that the expenses to cover the expenditure of BOT are not certain. In addition, the government requires to determinedly eliminating the viewpoint that the shareholders will be bailed out if situation are unfavourable.

Reflection: The above research has made use of the primary research method and surveyed a number of 50 respondents. It was identified that the most effectual improvement measure for the alteration in law risk was to attain assurances from the government to regulate the tariff or expand the allowance period. To me the project is beneficial and reliable as this provides effective information regarding infrastructure in India. As India is an emerging nation, the analysis on this nation is beneficial for having a clear understanding of construction projects andin most happening nations.    

 

 

Part 2: Critical analysis (Synthesising matrix)

Theme

Sharma, 2013

De Azevedoet al. 2014

Rabechini et al. 2013

Maniar, 2010

Analytical Hierarchy Process (AHP)

This is a framework which can be used in risk management analysis

It has elaborated identification of project risk management

 

 

Build operate transfer (BOT)

 

 

 

Most significant a current method in India. This methods need proper implementation, otherwise no benefit would be gained.

Various types of risks

 

 

Technical risks, logistic risks, management related risk, financial and environmental risks, socio-political risks

 

Internal and external risks

 

Employees, designers, clients, government bodies and contractors may face risks due to miscommunication