Quantitative Risk Evaluation by Building Type Based on Probability and Cost of Accidents

The construction industry has the highest frequency of injuries and fatal accidents compared to other industries. Therefore, an accurate evaluation of the level of risk is necessary to effectively manage accidents in the construction industry. Although risk assessments are used in the construction industry to identify and reduce risk, they are carried out qualitatively by the subjective opinion of safety managers. Therefore, this study proposed a quantitative risk assessment based on the risk levels of 17 building facilities. Moreover, this study classified the building facilities into groups of similar risk levels. This study involved five steps. The results of the study indicated that in terms of both accident probability and financial losses, the facility type with the highest risk ranking was “Residential buildings” (5.92). The risk assessment method proposed in this study can contribute toward reducing accidents by identifying the exact risk level for each facility type. Moreover, clients and contractors can utilize this study and its findings as a basis for different safety management approaches depending on the risk group level.