PROJECT TIMELINE

ABSTRACT

The construction sector is an important engine for economic development in India. A variety of
stakeholders is involved in any construction project. Major stakeholders include design teams,
clients, contractors and project managers. The stakeholders that have the ability to hinder or
promote the progress of a construction undertaking. Each participant’s approach towards the
project is likely to be influenced by its characteristics such as power, interest, and influence as well
as their actual role in the project, education, experience, etc. Although risk management has
become an integral part of project management, that its application is required even by standards.
In a construction project, the stakeholders try to maintain a value-based risk management process,
for which a continuous valuation method is necessary which is able to capture the value of the
building in its current state.