Assessing of Modern Machinaries used by Large Scale Construction Firms for High Cost Construction Projects
S. Vinoth Kumar1, C. Anish2, S. Venkat Raman3, K. Sathish Kumar4
1S. Vinoth Kumar, Department of Civil Engineering, Bharath Institute of Higher Education and Research, Chennai (Tamil Nadu), India.
2C. Anish, Department of Civil Engineering, Bharath Institute of Higher Education and Research, Chennai (Tamil Nadu), India.
3Venkat Raman K, Department of Civil Engineering, Bharath Institute of Higher Education and Research, Chennai (Tamil Nadu), India.
4K. Sathish Kumar, Department of Civil Engineering, Bharath Institute of Higher Education and Research, Chennai (Tamil Nadu), India.
Manuscript received on 05 November 2019 | Revised Manuscript received on 13 December 2019 | Manuscript Published on 31 December 2019 | PP: 1-6 | Volume-9 Issue-2S4 December 2019 | Retrieval Number: B10611292S419/2019©BEIESP | DOI: 10.35940/ijitee.B1061.1292S419
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open-access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: India is one of fastest growing economy in the world which attracts many foreign investors to our country. With the economy being liberalized, foreign players have a vital stake over our countries growth and it’s after effects. The Construction area has consistently been progressively to this financial development which all in all is an exceptionally divided industry. It needs to impart on a huge scale other related help business lines prone to be materials, types of gear, merchants, providers, subcontractors, customers and furthermore the undertaking plan and funds. All these elements which this sector deals with are subjected to potential risks involved which have to be predicted, monitored and managed. Construction industry has been following method for managing these risks and issues to be arising from a project. They have been managing these risks by foreseeing them with the experience and knowledge that the company has gained over the period of time. But this will be a question for a firm if they diversify or when they enter into any new venture of business domain. The conventional model is the one using the manual techniques for assessing risks involved from the experience, knowledge and competency gained in the business domain. Using Primavera (P6) the risk is been managed by creating several models generated which explains the process of additions of risks, identification of type of risk, calculation of exposure values, calculation of risk impact, assigning the person responsible to the risk, time frame of risk, preparation of control plans if the risk occurs. Finally the results thus obtained from both the methods are been compared and the results.
Keywords: Foreign investors, Financial Development, Construction Industry.
Scope of the Article: Construction Engineering