Big Data Analysis for Risk Management in Construction Projects

Risk management starts playing a key role in project management methodology. Nowadays, it is quite often to manage projects with the use of digitally collected data. Big Data (BD) analysis can enhance the quality of information taken from these records and use it for project management. Especially, it can be a project risk management tool. BD application examples can be found in the investment and construction projects which use both physical and virtual data derived from controlling, BIM (Building Information Modelling), bids for tender, schedules, from sub-contractors or information from the construction site. An accurate analysis of all that data (BD) makes it possible to discover new phenomena characteristic for the project. Getting to know them can be helpful in reducing the risk of accomplishing the project objective. The article is intended to arouse managers' interest in this new source of valuable information, required to improve a course of construction projects. An awareness of utility of the Big Data was presented on a basis of the recent anonymous survey among Polish construction entrepreneurs at the turn of years 2016 and 2017. The research is a first step towards a broaden analysis of the propensity of construction companies for using BD in project risk management. Moreover, it points out some capabilities in this matter.