Study and analysis of risk management in Chennai metro rail infrastructure projects

Risk management is a methodical and disciplined technique to identifying, evaluating, analyzing, monitoring, and reducing risks that jeopardize an organization’s strategic goals. The fundamental components of risk management encompass the stages of risk identification, risk analysis, risk control, risk financing, and claims management. Engaging in the risk management process offers numerous benefits, such as the capacity to recognize and assess hazards, enhance construction project management procedures, and optimize resource utilization. The risks are found in the metro rail projects as most of the people work in this project. The metro rails must withstand high tension, must withstand high load capacity while the rails move fast and when it moves on over load. Hence analysising the risk before planning and doing the metro projects reduces risks and high loses in cost. In this project the risks analysis was done in Chennai metro rail phase-II project. Trouble operation is a methodical and systematic strategy to finding, assessing, and responding to dangers in the building design operation terrain in order to satisfy design objectives. In construction organizations, qualitative approaches to troubleshooting are preferred over quantitative approaches. Risks can be compared in building design troubleshooting by plotting them on a trouble impact matrix against a probability. By merging qualitative and quantitative approaches for trouble analysis, the trouble operation frame for building systems can be improved. The results from the analysis showcased that the top five risk factors are acquired by hazard risks, followed by transfer risks, environmental risks, construction risks, and organizational risks.