Risk Assessment Methodology for Underground Construction Projects

Abstract

This paper presents a risk assessment methodology for underground construction projects. A formalized procedure and associated tools were developed to assess and manage the risks involved in underground construction. The suggested risk assessment procedure is composed of four steps of identifying, analyzing, evaluating, and managing the risks inherent in construction projects. The main tool of the proposed risk assessment methodology is the risk analysis software. The risk analysis software is built upon an uncertainty model based on fuzzy concept. The fuzzy-based uncertainty model is designed to consider the uncertainty range that represents the degree of uncertainties involved in both (1) probabilistic parameter estimates and (2) subjective judgments. Other tools developed in this study include the survey sheets for collecting risk-related information and the detail check sheets for risk identification and analysis. The paper finally discusses a detailed case study of the developed risk assessment methodology performed for a subway construction project in Korea.