Worth the risk?

Integrated and cost-effective decision analysis methods of risk assessment help contractors, engineers, and owners to take effective measures in mitigating the uncertainties of construction works. Around 57 subsurface failure modes are qualitatively analyzed to determine the effectiveness of integrated decision analysis method. Assessment of cost and delay related implementation of risk strategies should be carried on and compared with the benefits. An overall periodic updating of risk-assessment is required for the effective management of risk-assessment.