RISK MANAGEMENT IN CONSTRUCTION PROJECTS
Keywords:
risk, risk management, construction projects, life cycle, stake-holders perspectives etc…Abstract
Managing risks in construction projects has been recognized as a very important management process in
order to achieve the project objectives in terms of time, cost, quality, safety and environmental sustainability. However,
until now most research has focused on some aspects of construction risk management rather than using a systematic
and holistic approach to identify risks and analyze the likelihood of occurrence and impacts of these risks. This project
aims to identify and analyze the risks associated with the development of construction projects from project stockholder
and life cycle perspectives. Postal questionnaire surveys were used to collect data. This research found that risks spread
through the whole project life cycle and many risks occur at more than one phase, with the construction stage as the most
risky phase, followed by the feasibility stage.
