Volume : 2, Issue : 9, September - 2013

Study of Risk in Construction Projects

Dr. M. J. Kolhatkar, Er. Amit Bijon Dutta

Abstract :

Risks are very common in construction sector , Managing risks in construction projects has been recognised as a very important management process in order to achieve the project objectives in terms of time, cost, quality, safety and environmental sustainability. Risk is the Possibility of suffering loss and the impact on the involved parties. Risk is identified and then risk assessment and analysis is done. Then risk management and risk mitigation is carried out. Risk affect construction sector negatively and focusing on risk reduction measure it important. The purpose of this study is to study different types of risk, factors affecting risk, common sources of risk, advantage and disadvantage of risk management in construction projects.