Identification and Initial Risk Assessment of Construction Projects in Poland

Abstract

This paper presents an analysis of the Polish construction market with examples of project risk assessment taking into consideration one of the biggest markets in Central Europe. The writer has conducted research in identification and quantification of construction risks based on the Polish market that has developed considerably since joining the European Union. The risk analysis consists of verbal and quantitative description. The specification of risk indicators is directly linked to the Polish construction market and the writer has provided examples for applying the risk assessment process in construction projects. A summary of the analysis is presented in the final part of the paper.

Risk management in the construction industry: a new literature review

“…According to [10], RM in the CI is the assessment and response to the risk that will be inevitably attached to a project. In parallel, RM is the approach and activities that are put in place to lessen the disturbances that may occur during the action of a project [22]. In essence, RM is required for the effective detection and proper control of risk.…”

Methodology for enhancing reliability of predictive project schedules in construction

“…In the practice of construction management, there is a demand for scheduling methods integrated with risk management procedures [25,26]. In particular, support for quantitative analyses for risk management (typically with lack of objective input but expected to offer reliable basis for decisions) would be most welcome by the industry.…”

“…The impact of particular risk factors is the object of analysis of many researchers [6,25,26]. Certainly, it is project-specific.…”

“…To determine actual distribution type and parameters of a construction process duration, one could conduct series of time-consuming and costly measurements on site. With these being usually unavailable, the researchers base on simplifying assumptions [6,19,25,26].…”

“…Skorupka [26] presented an integrated method of risk identification with qualitative and quantitative risk assessment designed for construction projects (MOCRA). The method facilitates the assessment of risk reduction strategies and enables the planner to distribute residual risk throughout the project plan.…”