Ecology, Environment and Conservation Paper

Vol 25, May Suppl. Issue, 2019; Page No.(73-82)

REVIEW ON RISK MANAGEMENT IN VARIOUS INFRASTRUCTUREPROJECTS IN INDIA

Lone Mohsin Nazeer, Humaib Nasir and Mandeep Kaur

Abstract

The construction business in India has evaluated mainly due to rapid inventions and technologies overyears as the period from 1970 to mid1980’s have seen dynamic advancement in large portion of developmentdone by governing bodies for the benefit of societies. Due to change in construction pattern there has beenwide range in change of occurrences of risks related to construction activities. There are enormous risksthat can get originated with respect to any infrastructure projects leading to loss in life and property in suchcircumstances risk management process is the best governing medicine in order to safeguard life and propertyas it ensures prioritization and highlighting of dangers that can happen at any stage during constructionwork. It ensures design security overall development of project, prevention from accidents and safeguardagainst natural causes and disasters. There are different kinds of risks that can get associated with anyproject hence proper information about the risk and preventive method needs to be identified. The objectiveof this paper is to study in depth risk Management practices adopted in India for various infrastructureprojects. An attempt is made review to multiple risks that have occurred in various infrastructure projectsin India in past. In depth study of risks, their causes, effects and ways of treatment have been highlighted tofind the effective method of risk management processes in India.

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