Study and Analysis Construction Project Parameters to Achieve Project Life Cycle

Abstract

Risk management is important for every construction project. It is use to improve performance of project and increase the profit. Now a day, project become very complex and they have particular budget. So, companies and manager have responsibility to complete the work with time and schedule. Project work presents an application of risk management in the early stage of a project life cycle of a construction. Project life cycle is a function of several parameters mainly the site selection, Design phase, Selection of Contractors, Project mobilization phase, Project operation phase and Project completion phase. The first three phases can be considered at the planning phases where the optimization and analysis is of great importance. The last three phases are the execution phases where in the real time field work and monitoring plays avital role. But very little scope for optimization is possible as it is much involved with man management. In that we study, analyse the planning phase i.e the Pre-project phase that involves the site selection, design phase and supplier selection phase, project mobilization phase. Questionnaire was prepared and circulated among thirty respondents and based on frequency three criterion were selected for study. These criterions were then optimized by using Minitab software. Software included an arrangement by Taguchi method and One-way ANOVA method was used to find the optimal values for the criterion. The recommendations of these critical components were then done for optimal project life cycle.