Method of Construction Projects Risk Assessment

MOCRA (Method of Construction Risk Assessment) is an author’s original method that is used to a comprehensive risk analysis in construction projects. MOCRA can be described as a hybrid method. Unlike other methods, MOCRA allows its user to allocate risks in the material-financial plans. This substantially increases its utilitarian value because it gives a project manager or a direct contractor the possibility to evaluate the consequences of risk factors occurrence. These consequences relate to time and cost. They are visible for both sub-operations and for the entire project. Using MOCRA it is possible to count time and cost contingency for the project and verify the effectiveness of risk assessment. MOCRA method includes the following novelty elements: 1. Idea of a comprehensive risk assessment 2. Division of risk factors into the ones correlated with cost and the correlated with time. 3. Correlation of risk factors with specific operations in the schedule. 4. Idea of risk allocation in the material-financial plan 5. Validity coefficient of risk assessment. 6. Ability to modify the identification and quantification of risk factors in reference to the validity assessment.