RISK ANALYSIS FOR THE DEVELOPMENT OF XYZ RESIDENCE

The population growth in Indonesia is leading to new challenges in housing. Due to the scarcity and high cost of land in Jakarta, inhabitants are actively exploring alternate housing options in neighboring regions such as Bogor. The rise in rivalry among housing development enterprises, including the XYZ Residence project, has been a direct result of this trend. Nevertheless, it is common for these organizations to exhibit a deficiency in doing thorough risk analysis. The objective of this study is to analyze, evaluate, prioritize, and suggest strategies to manage construction-related hazards in the XYZ Residence Area project by utilizing the Severity Index. The study revealed a total of 51 pertinent risk factors. Using a Probability Impact matrix, 28 hazards had a considerably low probability of affecting the project timeline, 14 had a low probability, 2 had a moderate probability, 3 had a high probability, and 4 had an extremely high probability. Similarly, 36 risks had a significantly low probability of affecting project expenses, compared to 5 low, 5 moderate, 1 high, and 4 extremely high. Risk responses were formulated for risks with high and extremely high probabilities, based on these findings.