Construction risk analysis

Photo: COWI
The construction of major international infrastructures such as bridges, tunnels and marine structures implies considerable risks and hazards. Management of construction risks is key to successful and profitable projects and, at the same time, the risk is reduced
A construction risk analysis is an important tool for constructing major infrastructures on time and budget.

COWI has a long tradition of carrying out such risks analyses of major construction activities and has built up experience over the last decades.

The risk analysis is carried out using state of the art methods and tools. As a firm basis for the analysis, our risk analyst draws from the experience of COWI’s pool of specialists for structural design, dynamics, geotechnics, wind engineering, etc.

Experience shows that one of the most fruitful resources to a value adding risk analysis is the construction engineers' experience which is integrated into the risk analysis.

Risk management framework

The construction risk analysis focuses on the consistent identification of hazards, the analysis of the involved risks and their treatment by implementation of cost-efficient measures according to the following scheme:

  • Definition of risk policy and risk evaluation scheme
  • Hazard identification and quantification
  • Risk analysis
  • Identification of risk mitigation measures and their assessment
  • Risk handling and control of implementation of risk mitigations.

Identify hazards and analyse risks

All relevant risks are addressed such as hazards related to heavy lifts, production accuracies, transportation and natural hazards. They are evaluated with respect to their likelihood of occurrence and with regard to the implied consequences. The consequences are differentiated into:

  • Additional construction costs
  • Project delays
  • Injuries or fatalities
  • Environmental consequences
  • Effects on third parties (costs, injuries or fatalities, environment).

Control construction risks

The identified and quantified hazards are analysed and ranked. Risk mitigation measures are identified and implemented, if cost-efficient, in order to construct major infrastructures within time and budget.

LAST UPDATED: 28.04.2014