A Review over risk identification, evaluation &management in different railway projects

A community's infrastructure refers to the facilities, services, and assets that are necessaryfor its operation. Assets, facilities, and infrastructure with high fixed costs (long economiclives) have significant impacts on economic development and public health, as well asphysical assets that can provide long-term services and benefits. Since railway projects arelong-term in construction, require huge investments and have many risk factors duringconstruction and operation. Derailment, fire, landslides, falls from heights, vehicle collisions,electric shocks at stations, and floods, earthquakes, storms, corrosion are all potential issuesin railway operations, as well as when building the structures themselves. Conditions on landunexpectedly include late payments to contractors, tunnel drilling rig diverted, collision withunderground infrastructure, and lack of funds. In research studies, the most critical risksduring construction are unexpected ground conditions, delay payments to contractors,diversion of the tunnel drilling rig initially, derailment and collisions of vehicles, and floods.The level of risk management needs to be improved as well as the identification, evaluation,and estimation of risks related to assets in order to protect assets and promote projects andeconomic development. Due to the different methods for assessing human error, technicaldifficulties and natural phenomena, most of the methods were based on human error. Asthere is little information available about railway accidents and events and if there is, the datahas high uncertainties, the fuzzy logic method based on FAHP hierarchical analysis, or theAHP method is recommended in such cases. A combined approach of risk management andvalue engineering can be effective, since the principles of risk management have anincreasing focus on costs to deal with threats, and can also be viewed as one of theeconomic methods. So, the best method for responding to threats is selected from preventiveresponse measures.

Keywords:

Risk Evaluation , Risk Management , Analytical Hierarchy Process