Operational Risk Assessment and Mitigation Analysis in Construction Projects (A Case Study of Entity XYZ Contractor)

The objective of this study is to conduct a quantitative operational risk assessment andto design risk mitigation strategies to prevent and reduce operational risks in a selectedsample of a construction project in Entity XYZ. This research method combines indepth interviews and secondary data collection techniques. Operational risk wasassessed by calculating the probability (P), cost (C), quality (Q), time (T), and worksafety (S), and then calculating the main project risk using the Risk Significance Index(RSI). This study then identified ten risk factors with the highest RSI values.Furthermore, this study proposed a risk-mitigation strategy for each of these ten riskfactors, using one of the following approaches: avoiding risk, reducing risk,transferring risk, sharing risk, or facing risk.