Abstract:
Risk is an inevitable phenomenon in construction projects. Various managerial,
technological, financial and innovative techniques have been implemented to address and
effectively manage project risk, ensuring overall success. The technology is both a
resolve and source of risk in construction projects that needs to demonstrate substantial
value to justify its implementation. Building information modeling (BIM) is a new
promising technology for construction sector which addresses many common issues,
supports decision making and enhances value. Not only BIM is at the core of addressing
project risks, it also induces some of its own. In an attempt to study the risk
transformation due to BIM in construction projects, this research performs a thorough
analysis involving international experts and practitioners. Vast amount of data are
collected in the form of open-ended interviews and typeset questionnaire along with
developing case studies of running projects. Initially, the traditional risk systems are
studied and subsequently risk evolution is investigated using BIM models. It is found that
majority of significant risks get completely eliminated with BIM implementation. Some
risks, on the other hand, are observed to have variation in their significance with a few
newly emerged risks. The findings fuel a new research problem in the form of a dedicated
BIM plugin for risk management. A theoretical framework is developed to automate the
risk management process and improve the overall project management practices. Based
on the results, it is concluded that construction projects can greatly benefit from an
automated management system. Practitioners and software developers can invest in
bringing to market dedicated plugin for better penetration of BIM in construction
industry.
