Risk Identification And Prioritization In 3000KL High Speed Diesel (HSD) Storage Tank; Site Fabrication And Erection Project Using Primavera Risk Analysis Software

Abstract

Risk management process contains identification, analysis and mitigation of risks to reduce future impacts on project. In this paper, sixty-nine risks associated with 3000 KL High Speed Diesel (HSD) storage tank site fabrication and erection project located at Pune, Maharashtra, India has been identified and classified in eight categories i.e. Political risks, Legal or Contractual risks, Execution or Operational or Construction risks, Management risks, Technical risks, Financial risks, Social risks and Environmental risks. With the help of Probability Impact technique and use of Primavera Risk Analysis Software, risks are classified in to high priority, medium priority and low priority risks. This analysis is useful for Project Managers for decision making and to build risk response plan to reduce impact of these risks on project schedule and cost.