• Akash Singh Yadav
• Dr. Gaurav Shukla

Construction projects are inherently complex and subject to a wide range of uncertainty, spanning technical, financial, schedule, environmental, safety, legal, and organizational dimensions. This study develops and validates a comprehensive risk‐assessment and management framework tailored to the Indian construction context, with a focus on equipping digital tools. Drawing on international standards (ISO 31000, PMI PMBOK, AACE 47R-14), academic literature, and Indian best‐practice guidelines, the research establishes a seven‐category risk taxonomy and a seven‐week identification protocol that integrates checklists, brainstorming, the Delphi technique, site inspections, and contractual reviews. A mixed‐methods design underpins the study. Semi‐structured interviews with ten industry experts and a survey of 82 practitioners inform the development of a risk‐register template and quantitative–qualitative assessment protocols. Risks are first screened using Probability–Impact matrices, then ranked via Risk Priority Number scoring, and the top threats subjected to Monte Carlo simulation and decision‐tree analyses to quantify contingency requirements and optimize mitigation investments. Governance mechanisms Risk Steering Committees, designated Risk Owners, control‐gate audits, and real‐time dashboards ensure accountability and continuous monitoring. The framework’s practical utility is demonstrated through a two‐part case study of the Lucknow–Faizabad highway expansion. Systematic application of the protocol identified 38 project‐specific risks, prioritized the top ten, and justified proactive mitigation measures such as drainage works against monsoon washouts and streamlined land‐acquisition cells that collectively yielded cost savings of INR 320 million (7 percent of contract sum) and accelerated completion by two months relative to probabilistic forecasts.

Construction Projects, Risk Assessment and management, Semi‐structured, Risk Steering Committees

"RISK ASSESSMENT AND MANAGEMENT IN CONSTRUCTION INDUSTRY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.12, Issue 6, page no.h783-h787, June-2025, Available :http://www.jetir.org/papers/JETIR2506797.pdf

"RISK ASSESSMENT AND MANAGEMENT IN CONSTRUCTION INDUSTRY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.12, Issue 6, page no. pph783-h787, June-2025, Available at : http://www.jetir.org/papers/JETIR2506797.pdf