Risk Assessment and Management in Risky Construction Projects

One of the most important roles of a project manager is risk management. However, if risk management is not done properly from the beginning, this task becomes very complicated and ineffective. An effective and efficient risk management method requires an organized method and more importantly, knowledge and experience. The results of previous research in Chile have shown that both owners and contractors generally do not use risk management techniques that cause negative consequences in project implementation. This article examines the problems of risk management in construction projects using a knowledge-based method and proposes a method based on three foundations, including the risk management performance model, its evaluation, and the availability of the best practices model. This method is part of the research that is still in progress. One of the first conclusions from this research is that risk management in construction projects is still very ineffective and that the lack of knowledge is the main reason for this situation. Application of the proposed methodology is expected to allow clients and contractors to develop project risk management practices based on best practices, as well as improve the effectiveness of this practice .

Keywords:

Risk , Management , Information , Best Practices , Assessment