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Risk Management in Infrastructure Project Planning: Methods and Preventive Strategies
Subject area: Science,Engineering and Technology · Area of research: Sciences
DOI: 10.64388/IREV7I10-1715088
Abstract
Infrastructure projects are inherently exposed to a wide range of uncertainties due to their scale, complexity, long execution periods, and significant financial and social impacts. In this context, risk management plays a critical role in supporting effective planning and decision making, contributing to improved project performance and resilience. This article examines risk management in the planning of infrastructure projects, with a focus on systematic risk identification, qualitative and quantitative risk analysis, and the development of preventive and mitigation strategies. By integrating structured methodologies and analytical tools into the planning phase, project teams can better anticipate potential disruptions, allocate resources more efficiently, and reduce the likelihood and impact of adverse events. The discussion highlights the importance of proactive risk management practices in enhancing cost and schedule predictability, strengthening stakeholder confidence, and increasing the overall probability of project success in complex infrastructure environments.
Keywords
Risk Management; Infrastructure Projects; Project Planning; Qualitative Risk Analysis; Quantitative Risk Analysis; Risk Mitigation.
References
[1] Hillson, D., & Murray-Webster, R. (2007). Understanding and Managing Risk Attitude. Gower Publishing.
[2] Project Management Institute. (2017). A Guide to the Project Management Body of Knowledge (PMBOK Guide) (6th ed.). PMI.
[3] Smith, N. J., Merna, T., & Jobling, P. (2014). Managing Risk in Construction Projects (3rd ed.). Wiley-Blackwell.
[4] Vose, D. (2008). Risk Analysis: A Quantitative Guide (3rd ed.). Wiley.
[5] Winch, G. (2010). Managing Construction Projects: An Information Processing Approach (2nd ed.). Wiley-Blackwell.
[6] Zou, P. X. W., Zhang, G., & Wang, J. (2007). Understanding the key risks in construction projects in China. International Journal of Project Management, 25(6), 601–614.
How to cite this paper
@article{1715088,
author = {Caio C?sar Souza Andrade},
title = {Risk Management in Infrastructure Project Planning: Methods and Preventive Strategies},
journal = {Iconic Research And Engineering Journals},
year = {2024},
volume = {7},
number = {10},
pages = {693-695},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1715088.pdf},
abstract = {Infrastructure projects are inherently exposed to a wide range of uncertainties due to their scale, complexity, long execution periods, and significant financial and social impacts. In this context, risk management plays a critical role in supporting effective planning and decision making, contributing to improved project performance and resilience. This article examines risk management in the planning of infrastructure projects, with a focus on systematic risk identification, qualitative and quantitative risk analysis, and the development of preventive and mitigation strategies. By integrating structured methodologies and analytical tools into the planning phase, project teams can better anticipate potential disruptions, allocate resources more efficiently, and reduce the likelihood and impact of adverse events. The discussion highlights the importance of proactive risk management practices in enhancing cost and schedule predictability, strengthening stakeholder confidence, and increasing the overall probability of project success in complex infrastructure environments.},
keywords = {Risk Management; Infrastructure Projects; Project Planning; Qualitative Risk Analysis; Quantitative Risk Analysis; Risk Mitigation.},
month = {April},
doi = {https://doi.org/10.64388/IREV7I10-1715088}
}