RISK MANAGEMENT IN METRO RAIL CONSTRUCTION

Abstract This project deals with a method of measurement of project risk in metro construction. Project risk management primarily comprises cost and schedule uncertainties and risks associated with each activity of the project network. We have identified the major risk sources and quantified the risks in terms of likelihood, impact and severity in a complex infrastructure project for the construction of metro railways. A case study of the Patna Metro corridor PC-04 of phase-1 from Danapur to Patliputra in the capital city of Bihar has been considered for this project work. The methodology for this work is based on the response extracted from the experts who were associated and involved in this metro railway projects. Managing risk and safety are critical activities in the increasingly complex metro rail environment. Demonstrating that risk and safety have been managed effectively is increasingly important in many rail regulatory regimes. Developing organization’s competence in these areas will allow to improve the way risk and safety is managed within organization or projects, and also helps to meet regulatory and contractual requirements in an efficient and effective way.