Risk Management in Civil Engineering by FTA, FMEA and Risk Matrix

Year : 2025 | Volume :12 | Issue : 01 | Page : 34-46
    By

    Umang. R. Raichura,

  • Ayush R. Patel,

  • Ditsa D. Chavda,

  • Tirthrajsinh U. Chouhan,

  • Dhrumil Chauhan,

  • Amit N. Bhavsar,

  • Nekzad F. Umrigar,

Abstract

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Infrastructure projects, particularly in civil engineering, are fraught with uncertainties that manifest as both physical and financial risks. The project report, titled Quantifying and Managing Financial and Physical Risks in Infrastructure Projects, aims to bridge the existing gap between managing these two critical categories of risks. By integrating advanced statistical methodologies such as Failure Mode and Effects Analysis (FMEA), Fault Tree Analysis (FTA), Risk Matrix, and Regression Analysis, this study systematically identifies, analyses, and prioritizes risks based on their likelihood and impact. The use of FMEA emphasizes quantifiable risk assessment through Risk Priority Numbers (RPNs), while FTA offers a structured, root-cause analysis framework for understanding failure events. A significant aspect of this study is the innovative utilization of software tools such as Power BI and Microsoft Visio, which enhance data representation, visualization, and collaboration. Power BI excels at creating user-friendly dashboards that provide real-time insights into potential risks, enabling proactive identification and response. Meanwhile, Microsoft Visio facilitates the creation of detailed diagrams that visually depict complex risk interdependencies. These diagrams serve as valuable communication tools, fostering a shared understanding of risk dynamics among all stakeholders. By effectively leveraging these tools, the project significantly improves decision-making processes and empowers stakeholders to formulate and implement actionable risk mitigation strategies. The analysis identifies significant challenges, including delays in obtaining environmental clearances, land acquisition hurdles, and unexpected natural events such as cyclones and heavy rainfall. The results emphasize the need for a comprehensive risk management framework that addresses financial and physical risks in an integrated manner rather than in isolation. This approach provides actionable strategies for optimizing resource allocation, reducing cost overruns, and ensuring the timely completion of projects. This work not only serves as a practical guide for managing risks in road and infrastructure projects but also emphasizes the broader implications for the civil engineering industry. The proposed methodologies and tools can drive more efficient, cost-effective, and resilient infrastructure development. Moreover, the recommendations encourage a culture of risk awareness and proactive planning, which are essential for sustainable growth in the sector.

Keywords: Infrastructure projects, civil engineering, physical risks, financial risks, risk management, failure mode and effects analysis (FMEA), fault tree analysis (FTA), risk matrix, regression analysis, risk priority numbers (RPNS), software tools, Power Bi, Microsoft Visio, risk mitigation strategies, risk awareness, proactive planning

[This article belongs to Journal of Structural Engineering and Management (josem)]

How to cite this article:
Umang. R. Raichura, Ayush R. Patel, Ditsa D. Chavda, Tirthrajsinh U. Chouhan, Dhrumil Chauhan, Amit N. Bhavsar, Nekzad F. Umrigar. Risk Management in Civil Engineering by FTA, FMEA and Risk Matrix. Journal of Structural Engineering and Management. 2025; 12(01):34-46.
How to cite this URL:
Umang. R. Raichura, Ayush R. Patel, Ditsa D. Chavda, Tirthrajsinh U. Chouhan, Dhrumil Chauhan, Amit N. Bhavsar, Nekzad F. Umrigar. Risk Management in Civil Engineering by FTA, FMEA and Risk Matrix. Journal of Structural Engineering and Management. 2025; 12(01):34-46. Available from: https://journals.stmjournals.com/josem/article=2025/view=0

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Regular Issue Subscription Original Research
Volume 12
Issue 01
Received 23/12/2024
Accepted 06/01/2025
Published 17/01/2025
195