Volume : 4, Issue : 11, November - 2015

TO STUDY OF RISK MANAGEMENT IN CONSTRUCTION PROJECT FOR DEVELOPING COUNTRIES

Mr. Patel Shivam Mukeshkumar

Abstract :

<p>&lt;p&gt;&amp;nbsp;Risk management has evolved into a sophisticated and important task in virtually all corporations of developed countries and is becoming increasingly relevant for corporate firms in India. Managing risks in infrastructure construction projects has been recognized as a very important management process in order to achieve the project objectives in terms of time, cost, quality and scope. Risks have significant impact on construction projects in terms of its primary objectives. Construction projects which are intricate in nature, uncertainty and risks in the same can develop from different sources. Construction industry is highly risk prone, with complex and dynamic project environments creating an atmosphere of high uncertainty and risk. The industry is vulnerable to various technical, sociopolitical and business risks. The study reveals that Indian firms are aware of the risk management techniques and many of them are using the same to manage various risks. However, all the risks are not managed and the type of ownership control significantly influences the usage of the techniques to manage exchange rate risk and interest rate risk. This paper aims to identify and analysis of risks associated with the infrastructure projects.&lt;/p&gt;</p>