Risk-based techniques in construction management

Risk management is one of the relatively young branches of project management that does not yet have a clear mechanism in construction projects. Studies show that the implementation of risk management techniques in construction projects is very limited. While there is a close relationship between the implementation of risk management and indicators of project success, including cost, quality, safety and time. Especially in construction projects that are known as risky projects with many uncertainties. Construction projects are prone to a variety of risks due to the complex interactions between the contractor, the employer, the suppliers, the consulting engineers, the subcontractors and other project stakeholders. Even with the implementation of risk management in many large projects, we still see an estimated budget inadequacy or a significant increase in project duration.

Keywords:

Risk management techniques , risk management