K. Srinivas

By K. Srinivas

Cost saving and timely performance are of utmost importance to all stakeholders who are involved in a construction project that is owner, contractor, consultant and subcontractor. The prime causes of risks in construction projects involve delay and failure to complete the work at specified cost and within the agreed time frame. Unexpected delays in construction projects are caused by internal and external environments embedding several risk factors which may occur concurrently. The cost overrun and schedule overrun not only influence the construction industry’s completion of a project but can also have profound effect on the economy of a country. Even though the failure of the construction projects to get completed within the budgeted cost and time has received attention by researchers, lot more need to be researched as to what can be done to have tight leash on construction projects so that they can be brought on track. In order to meet the stiff deadlines involving complexity of construction projects, the scheduling of projects should be flexible enough to accommodate changes without negatively affecting the overall project cost and duration. This chapter deals with Perspectives on Risk Assessment and Management Paradigms as applicable to any project in general and construction industry in particular.

Part of the book: Perspectives on Risk, Assessment and Management Paradigms

By K. Srinivas

Various parameters which are interactive in nature are exerting a negative influence on the existence of planet earth. Excessive urbanization, runaway global warming, unbridled generation of waste and pollution of air, water and soil has resulted in depletion of natural resources. As a result of threat to ecosystems and irreversible degradation, the growing evidence that the earth’s ability to sustain life is getting eroded needs to be taken seriously. Major parameter which is responsible for substantial contribution to global warming and degradation of environment is the construction industry. The construction industry consumes about 40% of extracted materials and is responsible for about 35% of total carbon dioxide emissions. Rapid economic development coupled with unplanned construction has resulted in choking of cities/towns, with little or no lung space and over-exploitation of natural resources. This paper seeks to address the methods to mitigate the adverse effects on environment by way of implementation of sustainable management in the form of green and intelligent building which will facilitate the planet earth to be a liveable place for future generation while simultaneously pursuing the agenda of sustainable development.

Part of the book: Risk Management