Risk Management (Csm - 735) Final Report

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  Risk Management (CSM - 735) Fall Semester - 2018 Mid Term Assignment “ Preliminary Risk Analysis ”  Group Details Sr. No. Student Name Student ID 1. Megha Jariwala 300982520 2. Yogeshbhai Amin 300983367 3. Nikunj Panchal 300978765 4. Jay Rami 300988536 Submitted To: Prof. Daniela Aldea Centennial College Submission Date: November 6, 2018  Scenario Toronto City Council is about to make another decision on the future of the Gardiner Expressway, Eastern Section (from Jarvis Street to the Don River and Don Valley Expressway).  As a Construction Manager you are required to prepare a PRELIMINARY RISK ANALYSIS  for the options that are being considered. Option 1: Maintain the elevated expressway and connections as they exist now. Continue with ongoing repairs. Option 2: Eliminate the expressway and create a new, wider road at ground level. Option 3: Hybrid solution with reduced elevated section and increased road capacity at ground level.  Preliminary Risk Analysis An Impact and Probability table in general for all listed risks Table - 1 Impact probability Scale Weight Impact Probability 1 Insignificant Rare 2 Minor Unlikely 3 Moderate Possible 4 Major Likely 5 Critical Almost certain    Option - 1 Maintain the elevated expressway and connections as they exist now. Continue with ongoing repairs. The following are the listed probable risks that can be considered while maintaining the existing elevated expressway and connections with ongoing repairs: 1. Uncertain Working Conditions: There could be possible uncertainty in the working schedule for maintenance work due to the availability of express way roads and connections, water/air/soil pollution pre - existing or arising from work, uncertain weather conditions, incorrect estimates and cost overruns etc. Thus all these factors could possibly be considered in this risk.  2. Traffic Risks: This risk may include the possibility of increase in maintenance work due to the volume of traffic which may accelerate the actual maintenance costs higher than anticipated and in turn will increase the overall project cost.  3. Accident Risks: There could be an increase in the accident rate on expressway due to ongoing maintenance work on highway which may cause serious injuries amongst the drivers or may even result in death of a person. The possibility of labor accidents can also be added to this risk which may occur due to lack of safety practices followed on site and use of safety equipment by onsite workers.  4. Storage Risks: The maintenance work may also require a storage site for the materials and equipment that are being used in the maintenance work and the risk of unavailability of sufficient storage space could be considered in such risks where enough sp ace won’t be available to store the materials and equipment.  
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