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Natural Volatiles & Essential Oils ; 8(4):16202-16217, 2021.
Article in English | CAB Abstracts | ID: covidwho-1863911

ABSTRACT

Risk management is defined as process of identification of risk factors, their assessment as well as prioritization of risks along with economical application of resources to minimize and control the occurrence of the risk events. The overall aim of this study is to analyze the practice of risk management, significant risk factors and its ranking in road construction in Sindhupal chowk district with the perspective of global pandemic of coronavirus disease (COVID-19). This research is conducted through questionnaire survey to collect the primary data. Response obtained from respondents is rated on a 5 point Likert scale and analyzed through MS Excel. The data are analyzed to find out mean and ranking of each risk factors for the severity of risk based on FMEA model regarding their probability of occurrence, its consequence and its detectability. Major risk factors based on risk priority number are time overrun risk, Safety Health and Environmental risk, cost overrun risk, financial and economic risk, force majeure and ecological risk, political legal and social risk, organizational risk, contractual risk, quality risk and design and specification risk in descending order of risk severity.

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