AQUATICS GALLERY

AHMEDABAD

CONSTRUCTION PROJECT FORMULATION RISK ASSESSMENT

AND APPRAISAL

SEMESTER I
FACULTY OF TECHNOLOGY

FACULTY
DR.DEVANSHU PANDIT
DR.GANESH DEVKAR
PROF.JYOTI TRIVEDI

GROUP 6
PG180571 NANDAN KUMAR DA
PG180778 SALUJA RAJDEEP SATBIRSINGH
PG180586 NEELKUMAR PRAJAPATI
PG180895 SATYAM SHARMA
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TABLE OF CONTENTS

1 WHAT IS RISK ........................................................................................................................................ 1

1.1 Types of Risk in Project ....................................................................................................................... 1
2 RISK MANAGEMENT ............................................................................................................................ 1
2.1 Process of risk management ................................................................................................................. 1
3 RISK INVOLVED IN AQUATICS GALLERY PROJECT .................................................................... 2
3.1 Risk Identification ................................................................................................................................ 2
3.2 Risk Probability and Impact ............................................................................................................... 11
3.3 Risk Response .................................................................................................................................... 15
4 RISK ASSESSMENT MATRIX ............................................................................................................ 24

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1 WHAT IS RISK

Risk may be define as the any uncertain event or condition which can cause effect on at least one project
objective and may be also possibility of loss of persons or injury occurs to the persons.

1.1 Types of Risk in Project

 Design risk
 Environmental risk
 Legal risk
 Political risk
 Technological risk
 Financial risk
 Environmental risk
 Organizational risk
 Project management risk
 Construction risk
 Right of way risk
 Engineering service risk
 External risk
 Demand risk
 Operation and maintenance risk

2 RISK MANAGEMENT

Risk management is the process of identifying and assessing the risks to the project and managing those
risks to minimize the impact on the project. There are no risk-free projects because there are an infinite
number of events that can have a negative effect on the project. Risk management is not about eliminating
risk but about identifying, assessing, monitoring and managing risk.

2.1 Process of risk management

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3 RISK INVOLVED IN AQUATICS GALLERY PROJECT

3.1 Risk Identification

Detailed Description of Risk in

Sr
Categories Risk Phase terms of Aquatics Gallery
No
Annexure

If it is incomplete it will lead to

disapproval for the Construction and
1 Environmental analysis incomplete Development further Execution and Operation and
will affect the Overall Success of the
ENVIRONMENTAL
Project.
RISK
If there is any change In the scope
Design changes in the scope may
like addition of Floors or addition of
2 require additional Environmental Development
extra Spaces it will lead to further
analysis
Environmental Analysis.

If there is shortage in Supplying of

Construction Water from AMC it can badly affect
3 Water source Risk
O&M the Execution Phase as well as the
Operation of the Project
BOQ was prepared before GST, so
Increase in material cost due to
4 Construction the changes in the Material Cost
market forces
increased.
In certain Aquarium Tanks there
will be Normal Waters required so
there might be a risk if quality of
Operation and
5 Water quality change Water changes. Marine Species will
Maintenance
be badly affected.
EXTERNAL RISK
No direct Impact on Cost

During the Course of Construction

Pressure to deliver project on an
6 accelerated schedule within the
prescribed time
there will be chances of delays from
the teams like DTA Team,
Inspection Team, Proof Consultant
Construction Team, so even there will be delays
in the Construction and hence it will
further Leads to pressure on
Construction Team to deliver the
Project within Prescribed Schedule.

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To make labour work overtime at

same Wage rate and underpaying
them may lead to this situation. And
without labour there wont be any
progress in the work.
7 EXTERNAL RISK Labor shortage or strike Construction
If they don’t provide Proper Infra to
live in the site and Proper Security
and Holidays and the facilities that
are the basic necessities then also
this sitauation may take place.

The Expectation Risk will be there

as project is coming up in an Indian
Unreasonably high expectations Project Life
8 Scenario and this is one of a kind of
from Client Cycle
the project having world class
Infrastructure.
STAKEHOLDERS
There will be chances of changing
RISK the Scope and Details at some part
of the project according to the
9 Client request late changes Development
current situations or depending upon
the finance, or depending upon the
Norms.

Incomplete Information regarding

Construction, Aquarium Details,
10 Incomplete Design Development
Marine LSS, Incomplete Drawings,
Incomplete Specs
If Ground Water is low it
Completley affects the Structural
Unexpected geotechnical or Inception and
11 Design Component and may affect
groundwater issues Development
the Project in terms of Cost ,
Foundation Designs and so on
Inaccurate Assumptions regarding
Audio Visual, Marine Part as in
Inaccurate assumptions regarding Planning &
12 DESIGN RISK technical issues in planning stage
Water Requirements, Life Support
Development
Systems, Environmental Factors like
Temperature.
Changes in the Specifications of
Material as in changing the Grade of
Acrylic, Specifications of Different
Machinaries.
Development
13 Changes to materials Though everything is pre decided
Construction
but still there are chances of
changing the Specifications
according to the Market Availibility
and Client's Satisfaction2

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There will be a chances of omiting

Consultant design not matching the
the Norms Provided by Central Zoo
14 standards set by concerned Development
Authority, Public Building
Department
Standards, SPD2.
Incomplete or wrong quantity Estimation Wrong, Project gets
15 Development
estimation affected
Because assembling of Material of
Unforeseen construction window
16 Construction Tanks is carried outside ,hence rains
and/or rainy season requirements
may affect
Occurrence of Risk during
theSurveying of the plot may lead to
Inception and
17 Measurement Error Risk risk in scope of the project and
DESIGN RISK Planning
eventually it affects the design of the
Project.
Project life Change in the standards for the the
18 Design standards
cycle development of Aquatic gallery
lacks of flexibility in design of
19 lacks of flexibility in design Development Aquatics gallery makes changes
difficult and costly
In case considering the expansion of
20 Future Expansion Scope Development
Aquatic Gallery in near Future
Discrepancies in drawing are
21 Discrepancies in drawings Development problematic during the constuction
of aquatics gallery

Ahmedabad comes under Zone 3

seismic Zone. So Structural Details
of Buildings should follow IS
Structural Services as per Seismic
22 Development 1893(Part-1) so as to design the
Criterias
Building as per the Requirements. If
not incorporated, it leads to a Major
Risk.
ENGINEERING There will be chances of errors in
SERVICE RISK aesthetc appearance / visual look of
23 Unforeseen aesthetic requirements
the project or interior spaces of the
project
the risk caused due to the delay
Delay due to permits or
caused in issuing the permits for
agreements, from State, or local Construction ,
24 proceeding works - it can be
agencies for geotechnical closeout
permission to shift the aquatic
subsurface exploration
species

Utility Building is there and it is

supposed to provide Water and
Electricity, More time can delay the
project, as it is the one of the main
RIGHT OF WAY locating Utility building space
25 development things. Locating required space for
RISK requires more time than planned
the building may take time as the
science city is already planned, new
space should be located , it requires
time .

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Need for “Permits to Enter” not The required permission to enter the
Project life
26 considered in project schedule site by respective stake holders in
cycle
development the need
RIGHT OF WAY
There is no person in GCSC who is
RISK Inadequate pool of expert Project life expertise in this particular project it
27
witnesses or qualified appraisers cycle may leads to complications and
skipping of un noticed errors

No one has knowledge of Marine

28 Inaccurate contract time estimates Development
29 Falsework design is not adequate
30 Utilities at site
Changes during construction
31 require additional coordination
with resource agencies
32 Contractor Liquidation
Long lead time for utilities caused
CONSTRUCTION by design and manufacture of
33
RISK special components Life support
systems and Domes
construction of marine division
34
according to the design
35 installation of marine parts
cordination between civil/marine
36
and electrical /audio visual
37 Shifting of assembled parts
and EY has done the Contract
Estimate
The risk in false roofing in Inclined
construction Roof if it goes out of control / out of
design track, leads to complications
Some of the unidentified utilities at
site / confusion between
construction
ownership/extent of usability of the
particular utility
If any changes occures during the
course of construction , If resource
construction
Agencies doesn’t Coordinate then it
is a risk
If Contractor donot have enough
construction liquidity to work, work might get
affected through Delay
If there is any delay caused by
design team in providing addition
information seeked by construction
construction
team in providing of certain design
details / detailed drawings for
specialized parts
construction of marine related works
according to the design - indian
Construction workers no exposure to overlap
between the marine and civil
construction techniques
instllation of marine related parts -
handling of the parts while installing -
Construction loosing of one imporatant parts will
cost more - proper precautionary
measures should be followed
the communication gap between
Construction respective consultants may leads to
bad outcome/results
shifting of assembled parts - if it
does not fit on the truck /container
Construction
during the course of travel - shifting
into the building

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Delay in the procurement of

Delay in procuring construction construction materials, equipments
38 construction
resources etc for the construction of Aquatics
gallery
Delay in getting Electrical Delay in extension of capacity of
39 construction
connection Electric Sub-Station
If fire occurs during the
construction, there is a possibility of
Fire occurrence during loss of assets, loss of materials, loss
40 construction
construction of construction equipments, loss of
life etc and it will lead to delay in the
total duration of project
Accidents like Ladder Accidents,
Crane Accidents, some portion of
41 CONSTRUCTION Accident during construction construction
Building Collapses, Injuries From
RISK Falling Objects etc
Equipment used for the construction
Breakdown of crucial equipment
42 construction for eg machineries in aquatic gallery
during construction
fail during execution
Electrical equipments used for the
Electric leakage in electrical
43 construction construction, so there are the chance
equipment
of electrial leakage in equipment
disturbance in the existing structure
Noise & Vibration impact from
like Planet Earth surrounding the
44 construction equipment to construction
aquatics gallery due to vibration
adjacent structure/Attraction
impact
if the labours have problems with
45 Internal Labour dispute construction each others, it may be lead to labour
dispute

So mayny things are related to

Project scope, schedule,
Marine Things and INI doesn’t
objectives, cost, and deliverables construction ,
46 Have that much exposure to Aquatic
are not clearly defined or closeout
Project so they may face problem
understood
during Monitoring
If there are any delays caused by
marine scape in terms of design and
PROJECT construction there will be problem -
Development ,
47 Consultant or contractor delays as the Marine scape is located in
MANAGEMENT construction
abroad there might be
RISK communication gaps between Local
design and construction team
Estimation before was 200, then
257.5 and now 275Cr. So these
Estimating and/or scheduling kind of Errors may lead to Major
48 Development
errors changes in the Budget Cost and
chence has severe affect on the
project

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Unplanned work that must be Shifting of Materials as there is lack

49 construction
accommodated of Coordination
Lack of Communiation from
Lack of Project life
50 Marinescape regarding the course of
coordination/communication cycle
action
If Dispute between 2 parties and it is
Unresolved project conflicts not unresolved- disputes between DTA
51 construction
escalated in a timely manner and contractor - leads to
complications
the risk of giving instructions to the
52 Late Issue of Instructions construction construction team very lately - after
the execution of certain parts
Delay in earlier project phases Risk of delays caused to to earlier
53 jeopardizes ability to meet construction phases like designing and inception
programmed delivery commitment leads to delay of construction
Coz SpCL Will sublet the work to
few local agenceis so they might
54 Local agency support not attained construction cause delays or misuse the
opportunity of supplying the
PROJECT required materials this leads to risk
MANAGEMENT The Program can be varied due to
RISK external factors like Port Regulations
Priorities change from state or
55 construction , if species get stuck somewhere, if
local agencies on existing program
there is a strike from Suppliers In
RMC then
There are two ongoing Projects
work Overloaded on Robotics and Aquatics Gallery and
Project life
56 Staff(Technical and O&M of Science City is already
cycle
Functional)(GCSC) there so Staff is Over Loaded with
Different Projects to manage.
without well defined deliverables
Deliverables not well contractors are not able to
57 Execution
defined(WBS) understand what to do and how to
do
GCSC recruited Staff unable to
Project Life
58 Incompetency of staff coordinate with SPCL due to lack of
Cycle
knowledge, lack of skills
Inadequancy of information in bid Risk if insufficient information
59 Inception
document provided in bid document
There is a risk of delay in the
60 Delay in receiving bids Inception receiving bids for aquatic gallery due
to world class structure type.

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Inexperienced staff assigned(GCSC Project Life if staff assigned is not much

61
Staff) Cycle experienced the work may get suffer

There is already Less amount of

Losing critical staff at crucial point
62
of the project(GCSC Staff)
staff Available from GCSC due to
Project Life workload and It might happe in
Cycle future as well,
It has Significant effect on Schedule
and Marginal effect on Cost.

Financial Units gets Overloaded due

63 Financial wings overloaded Development
to other project work in Phase 2
Development The risk of understanding the
Lack of understanding of complex and funding procedures and executing it
64
internal funding procedures Construction leads to complications in finance and
ORGANIZATIONAL
and O&M eats up the time
RISK As Staff is Overloaded with so 2
different Projects and upon that
O&M of 1 project so there are high
Project Life
65 Miscommunication (Client) chance of Miscommunication which
Cycle
can further lead to conflicts in work
and therefore Delay in Project may
occur
changing of the present working
changing of the committee to
project life wing to other attraction present in
66 other attraction present in the
cycle the science city it will affect the
science city
smooth operation of the project
there will be chances of risks due to
communication gaps or disputes
Disputes between the other wings project life
67 between existing wings , regarding
/ communication gaps cycle
the operation of science city will
affect the smooth run of the entity

Central Zoo Authority may take

Reviewing agency requires longer
68
than expected review time
APPROVAL RISK
Permits or agency actions delayed
69
or take longer than expected
New information required for
70
some permits
longer time to check if guidelines
were followed. And as it is a new
type of project so it might take
Project Life
longer time
Cycle
During the Operation of the
Aquatics Gallery if there are changes
of any set of Norms the project will
directly get affected.
Development
Electrical or Fire Agency can delay
Construction
in getting the permissions
Closeout
Information regarding
Display(Distance between the Glass
and Visitor Pathway, Glass Height
Development
and Thickness) of Marine Species,
Standards of Aquariums

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If there is change in Environmental

71 Environmental regulations change Developmetn Laws again approvals will be
required
Approvals regarding marine species -
Risk of approvals regarding project life
72 APPROVAL RISK change in the norms during the
Aquatics species time
course of construction or operation
Delay from respective panel in
73 Delay in Environmental Clearance Development deciding Category of Aquatic
Gallery whether A or B Category

There will be chances of less no of

74 Risk in no of visitors to the facility OM visitors due to price of the entry
ticket ( if the price is very high )
DEMAND RISK One or more attractions of this kind
,which comes up in the vicinity . It
75 One more attraction in the vicinity OM
can be either in science city or near
by area

maintaining the fishes and other

Risk of maintaining the facility - aquatic species without affecting the
76 OM
daily routine daily routine - risks of workers
strike / ban /bandh
Competing with international Maintaining the facility / competing
77 OM
standard with international standards
there will be chances of risks caused
Risk of the Short circuit of the
due to short circuits inside the
78 electronic devices / Audio visual OM
premises due to irregular
devices present in the facility
maintenance
The Visitors who comes to visit the
OPERATION AND gallery in the indian scenario they
MAINTENANCE simply wont leave the vicinty
Pampering of devices from the
79 RISK OM without pampering something in the
public
premises . The devices which are all
installed / the interiors / furniture
may get affected due to public .
Due to inexperience of SPCL in O
& M of aquatics gallery, operating
80 Operating cost overruns OM
and maintaining cost can run more
than expected.
Due to inexperienced in O & M of
Damage or Loss to the project aquatics gallery, it may lead to
81 OM
assets damage or loss of the components
of aquatics gallery

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the devices are very new to

evreyone , its very difficult to
operation and maintenance of the
82 OM operate in the first go . They
devices
opearators need lot of training and
exposure to operate them
its very hard to upgrade the
softwares in the devices . Now a
days technology is upgrading very
substancialy. The softaware in the
Upgradation of software in the cell phones are upgrading , on other
83 OM
electronic devices hand to match the senario the
softawares should be upgraded in
each and every devices to match the
user interface , visual appeal and to
stop the security breach .
its very hard to replace the particular
Risk in replacing of the parts of
84 OM parts which will be defected during
the devices
the course of operation
There will be lesser knowledge to
the people who works for the
TECHNOLOGICAL Construction of aquariums inside
85 construction construction. Bad alignment or bad
RISK the building
handling results in loss of parts or
cost overruns
Repairs of machineries during the
course of construction which are Risk of Technology related repairs
86 construction
required to assemble the marine for these particular machines
parts
Risk of maintaining these machines
Maintaining the same machineries
according to latest technology during
87 which are used to assemble the construction
the course of the construction in
special parts
indian senario
there is a risk of technological
Technological components aren't components which are used in
88 OM
reliable aquariums and in the building part
that fail after a short time.
Technological components like
Technological components aren't
89 OM which are difficult to extend with
extensible
new future capabilities.
There are the chances of risk if
Technology components aren't fit Technology components which are
90 OM
for purpose usde in Aquatics Gallery are low
quality.

failure in operation of particular

parts in the marine division or audio
91 failure of operation of parts Closeout
visual division results in delaying of
RELEASE RISK
the opening of the building
failure of operation of life support
92 Closeout threat to the live species
systems

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It is wether the Revenue will be

Revenue not generated to Operation and
93 generated or not so as to cover the
compensate O&M Expenses Maintenance
O&M Expenses.
There will be risk of generating the
REVENUE
revenue - it may fail in attracting the
GENERATION RISK
people / or it may fail in deploying
94 Revenue Generation Risk OM
the required entry ticket to the
visitors because of the government
entities

looking at the present attractions

Project life
95 REPUTATION RISK Reputation of GCSC inside the science city there will be
cycle
risk of attracting the visitors

Loss of life or serious Injury can

lead to Project Delay.the project is
happening with robotics gallery if
HEALTH AND Injury during the construction of
96 construction the injury/incidents in the other site
SAFETY RISK Phase 2
leads to complications or loss of
time in the construction site of
aquatics gallery

incase of change in political scenario

Political Factrors change at Local Project Life
97 in the state or central it may effect
Level Cycle
in the smooth run of the project
POLITICAL RISK
Pressure exerted by the ruling party
Political Pressure to deliver the Development to complete Project before
98
project before time construction upcoming Elections due to credit
issues

due to in accurate estimation or

Inaccurate Cost Plan Estimate -
Development wwrong cost estimation there will be
99 Wrong Base Rate, Fluctuations,
construction adverse effects during the course of
Inadequacy in Design
construction
FINANCIAL RISK Unexpected changes in the rate of
materials, machinaries especially
Unexpected inflation rates construction
100 requirred to be imported from
fluctuations OM
European Countries in Aquatic
Gallery

3.2 Risk Probability and Impact

Severity =
Sr Probability
Categories Risk Imapct Probability
No (1-5)
*Impact
Cost Quality Time Scope Average
1 Environmental analysis incomplete 2 3 1 4 4 3 6
ENVIRONMENTAL Design changes in the scope may
2 RISK require additional Environmental 1 3 1 2 4 2.5 2.5
analysis

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3 Water source Risk 3 4 4 4 1 3.25 9.75

Increase in material cost due to
4 4 5 2 2 1 2.5 10
market forces
5 Water quality change 2 3 5 3 1 3 6
EXTERNAL RISK
Pressure to deliver project on an
6 accelerated schedule within the 3 2 4 4 1 2.75 8.25
prescribed time
7 Labor shortage or strike 4 3 4 4 1 3 12

Unreasonably high expectations

8 STAKEHOLDERS 5 1 4 2 3 2.5 12.5
from Client
9
RISK Client request late changes 3 4 2 4 5 3.75 11.25

10 Incomplete Design 3 3 1 2 4 2.5 7.5

Unexpected geotechnical or
11 1 3 2 2 1 2 2
groundwater issues
Inaccurate assumptions regarding
12 4 4 3 2 4 3.25 13
technical issues in planning stage
13 Changes to materials 3 3 2 1 1 1.75 5.25
Consultant design not matching the
14 standards set by concerned 1 4 2 1 4 2.75 2.75
Department
DESIGN RISK Incomplete or wrong quantity
15 2 5 1 1 3 2.5 5
estimation
Unforeseen construction window
16 3 4 3 2 1 2.5 7.5
and/or rainy season requirements
17 Measurement Error Risk 2 4 1 1 4 2.5 5
18 Design standards 1 4 2 3 3 3 3
19 lacks of flexibility in design 2 3 2 3 3 2.75 5.5
20 Future Expansion Scope 1 2 1 2 2 1.75 1.75
21 Discrepancies in drawings 2 3 3 4 4 3.5 7

Structural Services as per Seismic

22 1 4 3 1 1 2.25 2.25
Criterias
23 Unforeseen aesthetic requirements 1 2 3 1 2 2 2
ENGINEERING
SERVICE RISK Delay due to permits or
agreements, from State, or local
24 2 3 1 3 1 2 4
agencies for geotechnical
subsurface exploration

locating Utility building space

25 3 2 1 5 2 2.5 7.5
requires more time than planned
Need for “Permits to Enter” not
RIGHT OF WAY
26 considered in project schedule 1 1 4 4 1 2.5 2.5
RISK development
Inadequate pool of expert
27 4 3 4 2 1 2.5 10
witnesses or qualified appraisers

28 Inaccurate contract time estimates 3 4 3 3 1 2.75 8.25

29 Falsework design is not adequate 4 4 3 2 1 2.5 10
30 Utilities at site 2 3 1 2 1 1.75 3.5
Changes during construction
31 CONSTRUCTION require additional coordination 3 5 4 4 1 3.5 10.5
RISK with resource agencies
32 Contractor Liquidation 4 5 2 5 1 3.25 13
Long lead time for utilities caused
by design and manufacture of
33 4 2 2 5 1 2.5 10
special components Life support
systems and Domes

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construction of marine division

34 4 2 4 2 1 2.25 9
according to the design
35 installation of marine parts 2 4 1 3 1 2.25 4.5
cordination between civil/marine
36 3 4 4 3 2 3.25 9.75
and electrical /audio visual
37 Shifting of assembled parts 2 3 2 4 1 2.5 5
Delay in procuring construction
38 3 2 3 4 2 2.75 8.25
resources
Delay in getting Electrical
39 1 1 1 3 1 1.5 1.5
connection
CONSTRUCTION
Fire occurrence during
40 RISK 1 4 3 5 3 3.75 3.75
construction
41 Accident during construction 3 3 2 3 2 2.5 7.5
Breakdown of crucial equipment
42 3 2 2 4 1 2.25 6.75
during construction
Electric leakage in electrical
43 2 2 2 3 1 2 4
equipment
Noise & Vibration impact from
44 construction equipment to 1 2 3 1 2 2 2
adjacent structure/Attraction
45 Internal Labour dispute 4 2 3 3 2 2.5 10

Project scope, schedule,

objectives, cost, and deliverables
46 4 2 2 5 1 2.5 10
are not clearly defined or
understood
47 Consultant or contractor delays 4 2 2 5 1 2.5 10
Estimating and/or scheduling
48 3 5 1 3 3 3 9
errors
Unplanned work that must be
49 2 3 1 3 1 2 4
accommodated
Lack of
50 3 2 1 4 1 2 6
coordination/communication
Unresolved project conflicts not
51 2 2 1 4 1 2 4
escalated in a timely manner
52 Late Issue of Instructions 1 4 1 4 1 2.5 2.5
PROJECT
Delay in earlier project phases
MANAGEMENT
53 jeopardizes ability to meet 1 2 1 4 1 2 2
RISK programmed delivery commitment
54 Local agency support not attained 3 3 3 2 1 2.25 6.75
Priorities change from state or
55 1 4 2 3 1 2.5 2.5
local agencies on existing program
work Overloaded on
56 Staff(Technical and 3 3 4 2 1 2.5 7.5
Functional)(GCSC)
Deliverables not well
57 1 4 3 4 5 4 4
defined(WBS)
58 Incompetency of staff 4 1 3 3 2 2.25 9
Inadequancy of information in bid
59 3 4 4 2 4 3.5 10.5
document
60 Delay in receiving bids 1 1 3 4 2 2.5 2.5

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Inexperienced staff assigned(GCSC

61 4 3 4 3 1 2.75 11
Staff)
Losing critical staff at crucial point
62 2 2 4 3 1 2.5 5
of the project(GCSC Staff)
63 Financial wings overloaded 2 4 3 2 1 2.5 5
Lack of understanding of complex
64 ORGANIZATIONAL 1 4 1 4 1 2.5 2.5
internal funding procedures
65 RISK Miscommunication (Client) 4 4 4 3 3 3.5 14
changing of the committee to
66 other attraction present in the 2 1 4 3 1 2.25 4.5
science city
Disputes between the other wings
67 1 2 1 4 1 2 2
/ communication gaps

Reviewing agency requires longer

68 3 2 2 5 3 3 9
than expected review time
Permits or agency actions delayed
69 3 2 1 5 3 2.75 8.25
or take longer than expected
New information required for
70 APPROVAL RISK 4 2 1 1 3 1.75 7
some permits
71 Environmental regulations change 2 1 1 3 3 2 4
Risk of approvals regarding
72 1 5 3 2 5 3.75 3.75
Aquatics species
73 Delay in Environmental Clearance 3 1 1 4 1 1.75 5.25

74 Risk in no of visitors to the facility 3 5 1 1 1 2 6

DEMAND RISK
75 One more attraction in the vicinity 2 4 1 1 1 1.75 3.5

Risk of maintaining the facility -

76 1 3 3 1 1 2 2
daily routine
Competing with international
77 4 1 4 2 1 2 8
standard
OPERATION AND Risk of the Short circuit of the
78 electronic devices / Audio visual 1 5 4 4 1 3.5 3.5
MAINTENANCE
devices present in the facility
RISK Pampering of devices from the
79 5 4 3 2 1 2.5 12.5
public
80 Operating cost overruns 5 4 4 2 2 3 15
Damage or Loss to the project
81 4 3 4 2 1 2.5 10
assets

operation and maintenance of the

82 2 2 3 3 1 2.25 4.5
devices
Upgradation of software in the
83 3 4 5 3 1 3.25 9.75
electronic devices
Risk in replacing of the parts of
84 TECHNOLOGICAL 2 5 2 4 1 3 6
the devices
RISK Construction of aquariums inside
85 2 5 2 3 1 2.75 5.5
the building
Repairs of machineries during the
course of construction which are
86 4 3 2 4 1 2.5 10
required to assemble the marine
parts

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Maintaining the same machineries

87 which are used to assemble the 4 4 2 4 1 2.75 11
special parts
Technological components aren't
88 TECHNOLOGICAL 4 3 4 2 1 2.5 10
reliable
RISK
Technological components aren't
89 4 4 3 1 3 2.75 11
extensible
Technology components aren't fit
90 3 4 5 2 2 3.25 9.75
for purpose

91 failure of operation of parts 1 4 2 3 1 2.5 2.5

RELEASE RISK failure of operation of life support
92 2 4 1 2 1 2 4
systems

Revenue not generated to

93 REVENUE 5 1 4 1 3 2.25 11.25
compensate O&M Expenses
94
GENERATION RISK Revenue Generation Risk 5 4 1 1 1 1.75 8.75

95 REPUTATION RISK Reputation of GCSC 5 4 1 1 1 1.75 8.75

HEALTH AND Injury during the construction of

96 1 2 1 4 1 2 2
SAFETY RISK Phase 2

Political Factrors change at Local

97 1 2 4 4 1 2.75 2.75
Level
POLITICAL RISK
Political Pressure to deliver the
98 5 2 5 5 4 4 20
project before time

Inaccurate Cost Plan Estimate -

99 Wrong Base Rate, Fluctuations, 1 4 3 2 1 2.5 2.5
FINANCIAL RISK Inadequacy in Design
Unexpected inflation rates
100 4 5 4 3 4 4 16
fluctuations

3.3 Risk Response

Sr
Categories Risk Risk Response Description of Risk Response Risk Owner
No

It can be Mitigated by doing

GCSC and
1 Environmental analysis incomplete Mitigate Proper Analysis and reduce its
E&Y
Probability of occurrence.
If the Environmental Analysis is
not done Properly, there are
chances of increasing or
ENVIRONMENTAL decrerasing in the scope. So
RISK Design changes in the scope may firstly Environmental Analysis
GCSC,INI,
2 require additional Environmental Mitigate should be done in the correct
E&y
analysis way.
So hence it can be Mitigated if
the Analysis of Environment is
done in detailed way , scope will
be designed accordingly.

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It can not be transferred to

3 Water source Risk
Increase in material cost due to
4 Accept/Mitigate
market forces
SPCL as Provision for Water
Accept and Electricity is supposed to be GCSC
provided by GCSC accoridng to
the Tender.
The new policies or the rates that
will be defined by the Authorities
will have to be accepted. We INI Design
cant Transfer that to anyone. Sudio,
There are very low Chances of SPCL,
Mitigating it. We can do it by GCSC
increasing the percentage of
Contigencies.

GCSC can always keep a check

as they have the responsibility of
supplying the water so they
5 EXTERNAL RISK Water quality change Mitigate GCSC
always havew to keep the check
wether the water that is being
supplied is of right quality or not.
If the Client is pressurizing for
completion of work in an
Accelerated Schedule it has to be
Pressure to deliver project on an accepted by the Contractor
6 accelerated schedule within the Accept because it is indirectly influenced SPCL
prescribed time from the TPI and DTA Teams.
Its hard to minimize the
construction errors caused during
the Construction.
If labours are provided proper
Place to live around the site and
7 Labor shortage or strike Mitigate wages are sufficiently provided SPCL
then this situation wont take
place.

The Risk is to be accepted by

Unreasonably high expectations
8 Accept the CMA And DTA. It cannot be SPCL,INI
from Client
STAKEHOLDERS transferred
RISK The Risk is to be accepted by
9 Client request late changes Accept the CMA And DTA. It cannot be SPCL,INI
transferred

It can be mitigated by carrying

out proper analysis, research ,
10 DESIGN RISK Incomplete Design Mitigate discussions with Marinescape INI
regardig Life Support Systems
and different Specifications.

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The Risk is to be accepted as it

cannot be transferred.Even after
the Soil Testing and
Geotechnical Report there are
Unexpected geotechnical or chances that some portion might
11 Accept GCSC,E&Y
groundwater issues not get covered in the test.
Testing is carried out in three
points so there will be chances of
ocurence of this risk in other
parts.
Proper Research and study has
Inaccurate assumptions regarding to be carried out in terms of the
12 Mitigate E&Y, INI
technical issues in planning stage requirements and possibilities of
the project to reduce this risk
According to the Market
standards and Availibility the
13 Changes to materials Accept specs may change and so as the SPCL
materials from Client's or
Architectural Team.
Proper Research and study has
Consultant design not matching the
to be carried out in terms of the
14 standards set by concerned Mitigate INI, GCSC
requirements and possibilities of
Department
the project to reduce this risk
By taking Proper measurements
Incomplete or wrong quantity and doing periodic checks on
15 Mitigate
DESIGN RISK estimation estimation prepared by the Team
this risk can be reduced
Can be Mitigated by providing
Unforeseen construction window proper sheds to assemble the Marinescape
16 Mitigate
and/or rainy season requirements parts and Machincaries and , SPCL
proper storage area
It can be transferred to third
17 Measurement Error Risk Transfer party agency who takes care of Third Party
this kind of Proof checkings
The change in standards cannot INI
18 Design standards Accept be avoided , respective changes Marinescape
should be reflected in the plans E&Y
Can be mitigated by providing
some flexibility in earlier phase
19 lacks of flexibility in design Mitigate like foundation constructed INI
before form of Aquatic Gallery is
finalised
It can be mitigated by proper
analysis,discussion with client to
20 Future Expansion Scope Mitigate get clear picture upto what extent INI
they consider expansion of
Aquatic Gallery
Risk can be avoided by by taking
proper care of dimension
21 Discrepancies in drawings Avoid INI
lines,extension lines while
preparing drawings in CAD,tak

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RIsk is transferred to R&B for

Structural Services as per Seismic complete Proof Checking
22 Transfer DUCON
Criterias regarding Structural design
according it IS
it can be avoided by generating
23 ENGINEERING Unforeseen aesthetic requirements Avoid unlimited 3D views and Clear INI Ducon
SERVICE RISK ,detailed drawings
The delay in the giving
Delay due to permits or
permissions cannot be avoided , GCSC,SPC
agreements, from State, or local
24 Accept so the respective stakeholders L,INI,Marin
agencies for geotechnical
are responsible for the delay and e scape
subsurface exploration
risks

locating Utility building space This risk can be avoided by GCSC E&Y
25 Avoid
requires more time than planned proper pre planning for the space INI
By proper scheduling of the
Need for “Permits to Enter” not
RIGHT OF WAY meetings and giving respective
26 considered in project schedule Avoided GCSC
RISK permissions to the respective
development
stakeholders
This risk can be reduced by
Inadequate pool of expert
27 Mitigate hiring a specialized team from GCSC
witnesses or qualified appraisers
client side

Risk can be reduced by

deploying expertise team in the
SPCL,GCS
28 Inaccurate contract time estimates Mitigate particular team for cross
C
checking the things from client
side
Can be reduced by periodic
proof checking of the
29 Falsework design is not adequate Mitigate SPCL
construction according to the
design
By doing pre construction / site GCSC,
30 Utilities at site Avoid
analysis this risk can be avoided E&Y
Changes during construction By minimizing the changes and
31 require additional coordination Mitigate finalizing all the changes before GCSC ,INI
CONSTRUCTION
with resource agencies start of the construction
RISK By pre deciding the another
player in the market before
GCSC,
32 Contractor Liquidation Transfer starting of the construction this
E&Y
risk can be transferred
immediately
Long lead time for utilities caused
This can be minimized by SPCL,
by design and manufacture of
33 Mitigate providing neat and detailed Marine
special components Life support
drawings scape
systems and Domes
this risk can be reduced by giving
construction of marine division proper training for the workers,
34 Mitigate SPCL
according to the design and periodic proof checking at
the site

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this risk can be avoided by

proper management of the SPCL
35 installation of marine parts avoid
shifting/transportation and Marinescape
assembling of the parts
cordination between civil/marine this risk can be reduced by doing
36 Mitigate SPCL
and electrical /audio visual proper followups
This can be risk can be avoided /
SPCL
37 Shifting of assembled parts Mitigate reduced by designing the shifting
Marinescape
/transportation plans
As few equipments provided in
Delay in procuring construction AV are required to be imported SPCL
38 Accept
resources from overseas countries,thus Marinescape
delay could happen
Government permissions usually
Delay in getting Electrical takes time due to various
39 Accept GCSC
connection Government formalities within
Department
Providing proper safety system
constituting Fire extinguisher,Fire
Fire occurrence during alarm system,Providig proper
40 Mitigate SPCL
construction training program to teach labor
how to tackle such problematic
CONSTRUCTION situation
RISK Time to time quality inspection
of construction equipemnts by
Safety Officer,ensuring lobor is
41 Accident during construction Mitigate SPCL
provided with safety belt and
helmet in order to mitigate
damage
Risk can be mitigated by
Breakdown of crucial equipment monitoring all the machineries SPCL,Marin
42 Mitigate
during construction and construction tools time to escape
time
Risk can be mitigated by
Electric leakage in electrical monitoring all the machineries SPCL,Marin
43 Mitigate
equipment and construction tools time to escape
time
Using various methods to
Noise & Vibration impact from mitigate like Acoustic Shed,Noise
44 construction equipment to Accept Barriers; Regular maintaining of SPCL
adjacent structure/Attraction machines in order to ensure
optimal performance
Constituting a Committee in
45 Internal Labour dispute Mitigate order to solve disputes as quicly SPCL
possible

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Project scope, schedule, This can br reduced by doing

objectives, cost, and deliverables proper scheduling and by hiring a INI Design
46 Mitigate
are not clearly defined or proper expertise in the Design Studio
understood Field
The risk from GCSC is
transferred to SPCL, as
SPCL(Contractor) or INI
47 Consultant or contractor delays Transfer SPCL ,INI
(Consultant) has sub contracted
the work of Marine part to
Marine Scape.
It can be reduced by doing
Estimating and/or scheduling proper Scheduling , Estimating INI Design
48 Mitigate
errors and carrying out periodic Studio
Checks.
By including all the possible
Unplanned work that must be shifting plans and transporting INI Design
49 Avoid
accommodated plans in the schedule it can be Studio
avoided
By deplyoing a new regional
Lack of
50 Mitigate office or project office during Marinescape
coordination/communication
course of the project
Unresolved project conflicts not This can be avoided by
51 Avoid SPCL ,INI
escalated in a timely manner intervention of E&Y
This risk can be transferred to
52 PROJECT Late Issue of Instructions Transfer the project management team for INI , GCSC
MANAGEMENT proper monitoring of the project
RISK
Delay in earlier project phases
By proper monitoring and
53 jeopardizes ability to meet Mitigate GCSC E&Y
scheduling of the project
programmed delivery commitment
This risk can be transferred to
54 Local agency support not attained Transfer SPCL
the other agencies in the field
Priorities change from state or SPCL
55 accept the changes needs to be accepted
local agencies on existing program Marinescape
work Overloaded on this risk can be avoided by
56 Staff(Technical and Avoid deplyoing addition staff for the GCSC
Functional)(GCSC) project
Deliverables not well Risk can be avoided by properly
57 Avoid SPCL
defined(WBS) defining the deliverables
Organising Seminars time to time
58 Incompetency of staff Mitigate in order to educate them GCSC
regarding new technology
It ca be avoided by giving
Inadequancy of information in bid
59 Avoid detailed information regarding GCSC,E&Y
document
various aspects in bid document
This risk can only be accepted as
respective firms can have their
60 Delay in receiving bids Accept own reasons for submitting bids GCSC,E&Y
late even after going through pre-
bid quesionaries.

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GCSC Has transferred this risk

Inexperienced staff assigned(GCSC to third Parties by reecruiting
61 Transfer Third Party
Staff) different teams for different
work
By imposing Hired Staff with a
Losing critical staff at crucial point
62 Mitigate particular period of time to work GCSC
of the project(GCSC Staff)
this risk can be reduced.
This Risk can be avoided by
63 Financial wings overloaded Avoid Deploying Additional Staff in the GCSC
Financial Department
ORGANIZATIONAL this risk can be avoided with
Lack of understanding of complex GCSC GOG
64 RISK internal funding procedures
Avoid additional followps /deplyoing
DST
additional finance team
Good Clear and Appropriate GCSC,INI,S
65 Miscommunication (Client) Mitigate Communication should be PCL,Marine
carried out and to the point. scape
changing of the committee to
by reducing the changing of the GCSC
66 other attraction present in the mitigate
staff who is working frequently SPCL
science city
It can be avoided by
Disputes between the other wings
67 Avoid forming/improving a proper GCSC
/ communication gaps
overlooking comittee

It has to be accepted as Ministry GCSC,INI

Reviewing agency requires longer or the Reviewing Agency has design
68 Accept
than expected review time their own set of Norms and Studio,
Principals to follow. SPCL
We have to accept the risk as INI and
Permits or agency actions delayed you cant compress the time that GCSC(SPC
69 Accept
or take longer than expected is required or taken by the L
Approval Agencies sometimes)
Risk can be reduced by taking
correct measures, referring
proper Documents, Zoo
New information required for INI Design
70 Mitigate Authority Standards and
some permits Studio
APPROVAL RISK Standard Documents which are
concerned to Public Space and
then Designing it.
There is Nothing in which it can
be taken care of in advance. So GCSC, INI,
71 Environmental regulations change Accept
it cant be Mitigated. Hence it is E&Y
to be accepted
Should be prepared for the
Risk of approvals regarding
72 Accepted changes in the norms and should GCSC INI
Aquatics species
follow the rules accordingly
No way to mitigate hence needed
73 Delay in Environmental Clearance Accept GCSC E&Y
to be accepted

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this risk can be reduced by

providing different types of
offers and discounts and giving
74 Risk in no of visitors to the facility Mitigate the tickets at lesser prices . The GCSC SPCL
authority should search for the
available grants with the
DEMAND RISK
government .

Starting of new attraction

One more attraction in the nearby cannot be avoided . Its
75 accept GCSC
vicinity total not in hand of the authority
to stop it . So the risk is accepted

The authority should deploy a

Risk of maintaining the facility - GCSC
76 Transfer emergency team at this kind of
daily routine SPCL
cituation
This risk can be reduced by
Competing with international GCSC
77 Mitigate giving best options / best quality
standard SPCL
to the visitors
The risk can be reduced by
Risk of the Short circuit of the
periodic checking of the vicinity
78 electronic devices / Audio visual Transfer SPCL
and its facilities by hiring a third
OPERATION AND devices present in the facility
party
MAINTENANCE By appointing more staff during
Pampering of devices from the
79 RISK Mitigate the operation of the gallery this SPCL
public
risk can be reduced
It can be mitigated by analyzing
and studying the O&M cycle of
80 Operating cost overruns Mitigate SPCL
other aquariums at world level
and hiring experts if required
It can be mitigated by analyzing
Damage or Loss to the project and studying the O&M cycle of
81 Mitigate SPCL
assets other aquariums at world level
and hiring experts if required

Can be avoided by choosing the

operation and maintenance of the
82 Avoid perfect labour to maintain and SPCL
devices
operate the devices
Looking at the currrent tech
senario the authority should be
prepared for the revolution in
software development and
Upgradation of software in the
83 Transfer should take necessary measures SPCL
electronic devices
in this matter . The mainataining
TECHNOLOGICAL agency can transfer this risk to
RISK third party vendor to look after
this issue .
The authority can transfer this
Risk in replacing of the parts of
84 Transfer risk to a third party which is SPCL
the devices
specialized in this field .
the risk can be reduced by
deploying matured labours with
Construction of aquariums inside
85 Mitigate good knowledge. They cab be SPCL
the building
trained and given little exposure
before deploying at site.

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Repairs of machineries during the

course of construction which are
86 Mitigate SPCL
required to assemble the marine The risk can be reduced by
parts training the workers with proper
Maintaining the same machineries knowledge about the machines
87 which are used to assemble the Mitigate SPCL
special parts
Risk can be reduced by hiring a
Technological components aren't third party which is specialist in
88 TECHNOLOGICAL Tranfer SPCL
reliable technology related works of
RISK
Public Aquarium
Risk can be reduced by hiring a
Technological components aren't third party which is specialist in
89 Tranfer SPCL
extensible technology related works of
Public Aquarium
Risk can be reduced by hiring a
Technology components aren't fit third party which is specialist in
90 Tranfer SPCL
for purpose technology related works of
Public Aquarium

This risk can be transferred to

91 failure of operation of parts Transfer the third party wing which are SPCL
specialized in this field
RELEASE RISK
This risk can be transferred to
failure of operation of life support SPCL
92 Transfer the third party wing which are
systems Marinescape
specialized in this field

Revenue not generated to

93 Accept It cannot be transferred to SPCL GCSC
compensate O&M Expenses
this risk can be reduced by
REVENUE
providing different types of
94
GENERATION RISK Revenue Generation Risk Mitigate offers,discounts, monthly/yearly GCSC
passes and some attractive
events.

The present senario of the

science city is like this . It cannot
be avoided . The current infra
95 REPUTATION RISK Reputation of GCSC Accept GCSC
quality of the building is failing to
attract people towrds the
attraction .

The Risk can be reduced by

HEALTH AND Injury during the construction of SPCL
96 Mitigate giving proper safety equipments
SAFETY RISK Phase 2 Marinescape
and periodic saftey checkups

Eventhough the required

documentation and required
Political Factrors change at Local procedure is oveer , due to
97 Accept GOG
Level conflicts between the political
parties it may leads to adverse
POLITICAL RISK effects on the project
This risk has to be accepted as
political pressure can't be
Political Pressure to deliver the
98 Accept mitigated especially for a project GOG
project before time
like Aquatics gallery on top when
elections are near

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This risk can be reduced by

Inaccurate Cost Plan Estimate -
periodic followps in the
99 Wrong Base Rate, Fluctuations, Mitigate E&Y INI
estimation/proper checking from
Inadequacy in Design
the client side
FINANCIAL RISK
Inflations occuring in
Unexpected inflation rates international market can only be SPCL,
100 Accept
fluctuations accepted as no mtigation can be Marinescape
made

4 RISK ASSESSMENT MATRIX

5 Very High 93,94,95 8,79,80 98

4,7,12,27,29,32,33,45,
4 High 34,58,70,77 46,47,61,81,86,87,88,8 65,100
9

3,6,10,16,25,28,36,38,
Probaility 3 Medium 13,42,50,54,73,74 9,31,59
41,48,56,68,69,83,90

24,30,35,43,49,51,66,71,82, 1,5,15,17,19,37,62,63,
2 Low 21,75
92 84,85

2,14,18,22,26,55,60,64
1 Very Low 52 11,20,23,39,44,53,67,76,96 40,57,72,78
,91,97,99

Very Low Low Medium High Very High

1 2 3 4 5

Impact

Low

Medium

High

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