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Please use this identifier to cite or link to this item: http://hdl.handle.net/123456789/17265
Title: Risks and Risk Management of Addis Ababa Light Rail Transit System Project
???metadata.dc.contributor.*???: Alemayehu Gessesse (Mr.)
Wubshet, Bekele
Keywords: Risk management;risk identification;risk analysis;risk treatment;risk allocation
Issue Date: Jul-2015
Publisher: AAU
Abstract: Risk management of construction projects is increasingly felt critical to the success of projects in general and large projects in particular. Addis Ababa Light Rail Transit project is a large and complex project involving the construction of civil works and assembly of considerable electromechanical components. The project is undertaken through EPC Turnkey Contract. A research proposal was prepared to identify the risks that may thwart the success of this flagship Project of the city. Assessing the project risk management practice was also of prime concern. In order to understand the theoretical background, the research embarked upon intensive literature survey. Archival records including contract documents, reports, and correspondences were investigated. Questionnaires were distributed to respondents from the Employer and the Employer’s representative. To supplement the low population of respondents and to further refine the responses, interviews were carried out with selected professionals involved in the project. The findings have shown that the project is exposed to the vagaries of various risks. These risks have the tendency of severely affecting one or more of the project objectives and even the wider public as well. Despite of this risk prevalence, the Employer has not instituted formal risk management system. The method of risk management is not structured and process oriented. The term risk itself is not also properly understood and the conventional practice of managing risks has wider departures from the internationally accepted practice. Furthermore, the research has given evidence that the way risk identification, analysis and treatment methods are handled is unsatisfactory. From among the three steps of risk management, risk analysis is the least practiced. Risk treatments are addressed through contract provisions by way of insurance and bonds. Although the contract document clearly allocates risks to both the Employer and the Contractor in acceptable manner, most respondents replied that the contractor carries most of the risks. This entails that most of the respondents have no detailed understanding of the contract clauses that specifically dwell on risk allocation.
URI: http://hdl.handle.net/123456789/17265
Appears in Collections:Railway Engineering

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