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Risk analysis of the construction venture in the economic aspect

Tokarski Daniel, Sawicki Artur

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

2021

z. 153

495--505

Purpose: The purpose of the work was to analyze the construction project from the investor's position, with particular emphasis on the implementation phase. Factors influencing individual stages of the investment process may contribute to a change in the investor's risk level, which can be minimized at the right moment. The article attempts to qualitatively analyze selected risk factors, define them and possible reduction. Design/methodology/approach: The topic of the article is the risk analysis of the process of organizing the construction of an estate of five single-family houses in terms of time and cost of implementation. The analysis was carried out with the use of modern tools to support the work of an engineer, with particular use of computer methods, with the help of the Risky Project 5.0 program. Findings: The result of the analysis was the identification of risks for which preventive measures should be introduced. The main risks threatening the construction process and delaying the project implementation date turned out to be: the risk of equipment failure, the risk of absenteeism, and the risk of insufficient qualifications of employees. The key process of building an estate of five single-family houses turned out to be finishing works due to their diversity, scope of works, cost and labor intensity. The most important parameters of the project are the total cost of the project, as well as the investment completion time. Originality/value: The publication covers the subject of cost logistics in the process of implementing a construction project, with particular emphasis on the implementation phase, as well as an analysis of selected risk factors, their definitions and possible reduction possibilities. Based on the project a qualitative risk analysis was performed, the result of this analysis was the identification of risks for which preventive measures should be introduced. After identifying the risk, it is recommended to be thorough estimation of risk factors and their evaluation, as well as planning the response to risk based on the selected model.