Open AccessIs risk assessment matter in infrastructure projects on soft soils?
Author(s) -
Wai Wah Low,
Kenny Wong,
Jeong-Hwa Lim
Publication year - 2020
Publication title -
iop conference series. materials science and engineering
Language(s) - English
Resource type - Journals
eISSN - 1757-899X
pISSN - 1757-8981
DOI - 10.1088/1757-899x/943/1/012065
Subject(s) - risk management , business , risk assessment , investment (military) , environmental resource management , process (computing) , risk analysis (engineering) , engineering , environmental planning , environmental science , computer science , finance , computer security , politics , political science , law , operating system
Infrastructure projects are not merely complicated but they require high investment costs and a considerable amount of resources and stakeholders are necessary to assure their performance. Infrastructure projects especially transportation projects like highway, bridge, etc. cover a significantly large area and involve a lot of different stakeholders as such they are high in risks and uncertainties compared to other types of projects. The large covered area has led to construction on different types of soils including soft soils. This will complicate the construction process. The results of the literature review showed that existing knowledge on risk assessment of infrastructure on soft soils is not merely insufficient. Some researchers have highlighted the importance of risk assessment in construction projects on soft soils. Hence, the aim of this research was to explore the perception of industry personnel about the significance of risk assessment in infrastructure projects. A questionnaire survey was designed and distributed to consultants and contractors in Malaysia. Data were analyzed based on the descriptive method. Results showed that industry people perceived that the level of risks and uncertainties of infrastructure projects on soft soils is higher than other types of soil. As such, the impact of infrastructure projects on soft soils on project cost performance will be more significant than other types of soil. Hence, construction industry professionals perceived that risk management is critical in mitigating risks especially in infrastructure projects on soft soils.