Classifying Risk in Fast Track Construction Projects in India

Abstract

Risk is a common element in all industries, whether it is IT related business, automobile or pharmaceutical industry, or the construction sector but fast track construction projects are more prone to risk. The objective of the present paper therefore is to identify the types of risks associated with fast track projects in India. Extensive literature survey has been done to collect the information regarding the types of risks in the construction projects. It has been found that risk has been categorized external and internal broadly. Apart from it multiple other risk types are Physical, Environmental, design, Financial, Contractual / legal, Construction, Political, Management, Natural hazards, Safety and Delay risk. It is expected that practitioners applying the findings and suggestions of the present research will be able to take precautionary measures ultimately leading to greater competitive advantage.