The construction of gas plants often experiences delays caused by various factors, which can lead to significant financial and operational losses. This research aims to develop an accurate risk model to improve the schedule performance of gas plant projects. The model uses Quantitative Risk Analysis (QRA) and Monte Carlo simulation methods to identify and measure the risks that most significantly impact project schedule performance. A comprehensive literature review was conducted to identify the risk variables that may cause delays. The risk model, pre-simulation modeling, result analysis, and expert validation were all developed using a Focused Group Discussion (FGD). Primavera Risk Analysis (PRA) software was used to perform Monte Carlo simulations. The simulation output provides information on probability distribution, histograms, descriptive statistics, sensitivity analysis, and graphical results that aid in better understanding and decision-making regarding project risks. The research results show that the simulated project completion timeline after mitigation suggested an acceleration of 61–65 days compared to the findings of the baseline simulation. This demonstrates that activity-based mitigation has a major influence on improving schedule performance. This research makes a significant contribution to addressing project delay issues by introducing an innovative and effective risk model. The model empowers project teams to proactively identify, measure, and mitigate risks, thereby improving project schedule performance and delivering more successful projects.

Every sector must possess the ability to identify potential dangers, assess associated risks, and mitigate them to a controllable extent. The mining industry inherently faces significant hazards due to the intricate nature of its systems, processes, and procedures. Effective risk control management and hazard assessment are essential to identify potential adverse events that might lead to hazards, analyze the processes by which these occurrences may transpire, and estimate the extent, importance, and likelihood of negative consequences. (1) The stage of industrial hazard analysis assesses the capability of a risk assessment process by acknowledging that hidden hazards have the potential to generate dangers that are both unknown and beyond control. (2) To mitigate hazards in mines, it is imperative to identify and assess all potentially dangerous circumstances. (3) Upon conducting an analysis and evaluation of the safety risks associated with identified hazards, the acquired knowledge has the potential to assist mine management in making more informed and effective decisions. (4) Frequently employed methods of data collection include interrogation of victims/witnesses and collection of information directly from the accident site. (5) After conducting a thorough analysis and evaluation of the safety hazards associated with hazard identification, the dataset has the potential to assist mine management in making more informed decisions. The study highlights the critical role of management in promoting a strong safety culture and the need for active participation in health and safety systems. By addressing both feared and unknown risks, educating workers, and utilizing safety-related data more effectively, mining companies can significantly improve their risk management strategies and ensure a safer working environment.