Construction Risk Assessment Calculator

sq ft
months
score

How to Calculate Construction Risk

The risk score is calculated using the following formula:

\text{Risk Score} = \left( \frac{\text{Project Size}}{1000} + (\text{Project Duration} \times 2) + \text{Worker Impact} + \text{Equipment Impact} \right) \times \text{Risk Factor Modifier}
  1. Project Size: Larger projects tend to carry more risk.
  2. Project Duration: Longer projects are more susceptible to delays and external issues.
  3. Worker Impact: Projects with over 20 workers contribute higher risk points.
  4. Equipment Impact: Projects with over 10 pieces of equipment add to risk.
  5. Risk Factor Modifier: Based on overall risk level (Low = 0.8, Moderate = 1.0, High = 1.5).

Example:

A construction project spans 15 months, covers 12,000 sq ft, employs 25 workers, uses 12 pieces of equipment, and is considered Moderate risk.

Calculation:

  1. Base risk from size: \frac{12,000}{1000} = 12
  2. Duration impact: 15 \times 2 = 30
  3. Worker impact: 555 (since 25 workers > 20)
  4. Equipment impact: 333 (since 12 pieces > 10)
  5. Risk factor modifier: 1.01.01.0 (Moderate risk)
\text{Risk Score} = (12 + 30 + 5 + 3) \times 1.0 = 50

The total risk score for this project is 50, indicating a moderate risk level requiring appropriate mitigation measures.