Connect on Whatsapp : +97143393999, Uninterrupted Access 24x7, 100% Confidential. Connect Now
Error goes here
Please upload all relevant files for quick & complete assistance.
Running head: RISK ANALYSIS AND MITIGATION PROJECT
Risk analysis and mitigation project
(Lot Fourteen, ...
Running head: RISK ANALYSIS AND MITIGATION PROJECT
Risk analysis and mitigation project
(Lot Fourteen, Adelaide)
Name of the student:
Name of the university:
1 RISK ANALYSIS AND MITIGATION PROJECT
Part A: Project Overview
Costs Cost in million dollars
Environmental remediation 0.20
Environmental analysis 0.10
Architecture and engineering costs 0.30
Project management 0.20
Loan and financing costs
Construction loan interest 0.05
Financing fees 0.05
Other costs 0.05
2 RISK ANALYSIS AND MITIGATION PROJECT
Insurance coverage 0.20
Social and economic rationale:
There are scopes for former Royal Adelaide Hospital to get identified as a growing industry,
form where southern Australia would gain competitive advantage. There are 4 growing sectors
aligning specifically with prior site as per existing built form and lo cation. They are tourism,
international education, creative industries and digital technology. However, this type of projects are
delivered within budget and time rarely ( Perez, Gray and Skitmore 2017 ). Here, operational costs are
greater as predicted. The re are various solutions out there, still this industry is lagging behind as
sustainability is considered. Approximately, 20% of the emission of the world are because of this
sector. Unlike other sectors, this area is often quickly adopting digital tools a nd turning more
The project is estimated to be of 7 months, with a total cost of 3.1 million dollars. There are
internal and external demolition of tasks to multi -story building at the area. The tasks includes
removal of hazar dous material and asbestos along with internal stripping out like demolishing
building updates, services finished in 1958, destroying level 7 and structures of lower ground plan.
Demolition and decommissioning of southern and northern lifts. This needed st ructural renovation
and embracing for allowing stripping out equipment and plant within building. This is for
undertaking tasks. Edge protection and scaffolding are created across level 7 plat room prior the task
of demolishing can happen. Material catarac t is to be installed for demolishing waste to get
transferred towards lower working areas for removal off site and remediation ("Home" 2021) .
Column elements, beam and concrete roof are pull to pieces through lifted usage of mobile crane and
saw cutting. I mportant seismic pockets and earthquake proofing has been finished for permitting
3 RISK ANALYSIS AND MITIGATION PROJECT
seismic bracing to get installed through incoming builder. This activity has been throughout total
building and coordinated with suitable consultants. This has few heritage l isted buildings. Hence,
works of demolishing done under 500 mm of fabric of notable building done from hand while
secured to do that. Physical separation and air -gapping and demolition of eastern elevation of
construction that has been not listed on herita ge and back filling of the sector having sand that is
treated with cement. Removal and separation through crane of 22 ft southern portico columns and
roofs and labour -intensive destruction of tunnels of redundant services ("Lot Fourteen", 2021) .
Scopes al so involves eradication of secondary internal concrete ceilings with primary corridors of
that buildings. They are eradicated through usage of demotion robot of remote -control. This southern
lift has been demolished and decommissioned.
The research commercialization and start -up fund has been has been controlled from the end
of department for industry and skills. This is for supporting proposals building industry research and
development ability at Southern Australia ( Arashpour et al. 2 017 ). This is through development of
scientific research and then helping various entrepreneurs in marketing their important ideas. This
would be complemented by the other schemes from state government that at the Regional Growth
Fund and department of Tre asury and Finance.
The government of Australia, project sponsor, members of project team project manager, financial
and technical service providers, external or internal consultants, equipment and material suppliers,
contractors, sub -con tractors and site personnel are key stakeholders here ( Osei -Kyei and Chan
4 RISK ANALYSIS AND MITIGATION PROJECT
Part B: Risk Analysis
Qualitative risk analysis:
In the initial stage there are important development of temporary service trade packages,
asbestos, scaffolding and temporary works. These are coordinated for providing most effective and
safest delivery method and sequence. In this stag there were various project constraints and
challenges. It comprises of relocation of high voltage assets of SA Power Networks servicing
National Wine Centre and university buildings towards west towards North Terrace, ongoing and
management communication with common access restrictions and adjacent stakeholders. Moreover,
the location presented problems since that has been fronting the busy area o f North Terrace. Here,
tram extension has been considered and besides Adelaide Botanic Garden. This has been
approximately having 1 million visitors every year and collection of plant is to be secured from dust
(Wuni, Shen and Mahmud 2019 ). Besides, there has been pre -existing tenant of SA Pathology that
has been operating on site and required to retain access all time to services. Again, engagement with
various stakeholders and public has been a primary risks for this project at that scale. Nevertheless,
collaborative approach of SA has made that aspect of this project to be successful and setting
precedent for same kind of projects of high profile. There is another issues that are distinct to that
site, there are complexity and number of antiquated tunnels or catacombs running between and
below various buildings. This comprises of services like security cabling, water, power and gas. It
has to be blocked for preventing collapses during the work of demolition undertaken on ground. The
changes need different or more resources than it predicted resulting to delays and conflicts of
resourcing. Further, contractual disputes present between contractor and client and subcontractors
and contractor ( Hwang, Zhao and Chin 2017 ). Again, there are designs for shorting sy stems and
temporary demolishing might not be correct. As there are errors present in method statements has
resulted to delays. Moreover, there can be errors in quantity surveys. There are failure for achieving
5 RISK ANALYSIS AND MITIGATION PROJECT
quality needed along with functional requireme nts of that build. Next, there are risks of fire from
construction technique, arson or waste removal. Ascertained and liquidated harms are not sufficient
for covering costs as projects are lately completed ( Zeleňáková and Zvijáková 2017 ). Moreover,
multiple change requests are required for site conditions that are unexpected. Optimistic contract
time and poor accurate time indicates partial street closures and road closures get delayed due to
insufficient planning and coordination. There can be not informing community and not providing
sufficient notice to their works. Then, there is resourcing problem and subcontractor delay. Further,
subcontractor has cash flow or financial issues ( Xu et al. 2018 ). Moreover, water table is seen to be
greater than expected. The changes resulted in necessities for dewatering. Design or work takes
longer time as expected resulting to temporary construction expiring of easements. Further, working
at higher level and managing related hazards has been resultin g delays and rise in cost.
Quantitative risk analysis:
Description of risk likelihood Impact: Severity Owner Mitigating
Safety Medium Medium Medium Project
with the time
6 RISK ANALYSIS AND MITIGATION PROJECT
High Medium Medium Project
Poor material and
Low Low Low Project
rise and it
has to be
clause of “no
High Medium Medium Project
might not be
7 RISK ANALYSIS AND MITIGATION PROJECT
this must be
with any loss
Labor shortages Low Low Medium Project
Low Low Low Project
soon as it is
Delays of material
High High High Project
8 RISK ANALYSIS AND MITIGATION PROJECT
Part C: Risk Mitigation Plan
Firstly, there can be shortfalls of budget. This project of Adelaide is a high budget project.
With the project can face losing funding in the mid -way that is not expected. It can lead to
uncompleted project and loss of money from the part that was been finished. Hence, the project
managers must focus on controlling funds and use fund administration management for reduction,
eradication the challenges related to shortfall of budget. Then, there are contractor inexperience. The
contractor cho sen for this project might be breaking or making the finished product. In that situation
working with any contractor that is experiences might bring some important benefits. Furthermore,
working and any contractor who is not experienced is also able bring latest concepts to the table.
This can be best choice ( Tavakolan and Etemadinia 2017 ). Nevertheless, working with any
inexperienced one will open this project up towards financial risk. Here, natural tracking and
acceptance services and full reporting serv ices for supporting the project till best of their ability is an
effective move. This helps in risk mitigation that can take place with the newer contractor. After
that, various inspection agencies having various standards of training and expectations rega rding
inspections throughout Australia. Understanding quality of inspection is useful that is received is
useful. Here, kind of service is highly miss or hit ( Yazdani et al. 2021 ). Here, the project managers
must go for the inspections that deliver subsidi zed level of inspections for commercial and
residential construction projects. After that, there is problem with tight schedule of project. All kinds
of their specific method to understand that it is on tight schedule irrespective of the amount of time
one is actually needing to be working with. The management of timeline of the project is difficult.
This opens up projects of high -ticker price towards more risk, longer downtime and more costs. In
this situation, effective risk mitigation solutions are to be provided after reviewing details of the
project and giving suggestions for helping to keep t hat project remaining on track.
9 RISK ANALYSIS AND MITIGATION PROJECT
Apart from that, there are excessive approval procedures. Necessity of acquiring particular
important approvals and following proce sses are just part of the present world of construction
(Perrenoud et al. 2017 ). Nevertheless, necessity to move through repetitive and excessive approvals
are able to slow down this project. Excessive procedures of approval so much that is seen to be
impo rtant reason for risk in construction projects. The present project must undertake the project
recommendation and review process for verifying approvals and allowing necessities of conducting
this construction prior this program even moves underway. Here, it is to be ensured that this project
is following national and local laws. Furthermore, through the integration of construction software in
the project from starting, can make the controllable to leave to chance. Through implementing
proper technology, fo r generating a soundproof and effective risk -management program, the project
managers can positively influence this project’s success.
10 RISK ANALYSIS AND MITIGATION PROJECT
Arashpour, M., Abbasi, B., Arashpour, M., Hosseini, M.R. and Yang, R., 2017. Integrated
management of on -site, coordination and off -site uncertainty: theorizing risk analysis within a hybrid
project setting. International journal of project management , 35 (4), pp.647 -655.
Home . Lot Fourteen. (2021). Retrieved 26 April 2021, from https://lotfourteen.com.au/ .
Hwang, B.G., Zhao, X. and Chin, E.W.Y., 2017. International construction joint ventures between
Singapore and developing countries: Risk assessment and allocation preferences. Engineeri ng,
Construction and Architectural Management .
Lot Fourteen . Renewal SA. (2021). Retrieved 26 April 2021, from
Osei -Kyei, R. and Chan, A.P., 2017. Risk assessment in public -private partnership infrastruct ure
projects. Construction innovation .
Perez, D., Gray, J. and Skitmore, M., 2017. Perceptions of risk allocation methods and equitable risk
distribution: a study of medium to large Southeast Queensland commercial construction projects.
International Journ al of Construction Management , 17 (2), pp.132 -141.
Perrenoud, A., Lines, B.C., Savicky, J. and Sullivan, K.T., 2017. Using best -value procurement to
measure the impact of initial risk -management capability on qualitative construction performance.
Journal of Management in Engineering , 33 (5), p.04017019.
Tavakolan, M. and Etemadinia, H., 2017. Fuzzy weighted interpretive structural modeling:
Improved method for identification of risk interactions in construction projects. Journal of
Construction engineering and Management , 143 (11), p.04017084.
11 RISK ANALYSIS AND MITIGATION PROJECT
Wuni, I.Y., Shen, G.Q. and Mahmud, A.T., 2019. Critical risk factors in the application of modular
integrated construction: a systematic review. International Journal of Construction Management ,
Xu, X., Wang, J ., Li, C.Z., Huang, W. and Xia, N., 2018. Schedule risk analysis of infrastructure
projects: A hybrid dynamic approach. Automation in Construction , 95 , pp.20 -34.
Yazdani, M., Kabirifar, K., Frimpong, B.E., Shariati, M., Mirmozaffari, M. and Boskabadi, A., 2021.
Improving construction and demolition waste collection service in an urban area using a simheuristic
approach: A case study in Sydney, Australia. Journal of Cleaner Production , 280 , p.124138.
Zeleňáková, M. and Zvijáková, L., 2017. Risk analysis with in environmental impact assessment of
proposed construction activity. Environmental Impact Assessment Review , 62 , pp.76 -89.
Enter the password to open this PDF file:
Specially designed essay help services have made MyAssignmenthelp.com one of the most prolific proposal essay help providers. We have arrays of expert essay writers who successfully deliver essay help depending on broad ranges of subjects and topics. We provide nursing essay help, MBA essay help, English Essay writing help and law essay help to students from different fields of study. Broad ranges of essay writing services assist us to offer quality contents within a specific time limit.
On APP - grab it while it lasts!
*Offer eligible for first 3 orders ordered through app!
ONLINE TO HELP YOU 24X7
OR GET MONEY BACK!
OUT OF 38983 REVIEWS
Received my assignment before my deadline request, paper was well written. Highly