A Review on Risk and Risk Management Technique in Construction Projects

Abstract

Construction projects are complex in nature and thus entail multiple threats and uncertainties that can adversely affect the project. The industry has witnessed many studies focused on a similar idea that identified the types of risk and the risk management method to handle these risks. Aim of this paper, to gather reviews on Risk and Risk management. So, the literature analysis of the referred articles emphasized the value of risk management in building projects to infer the relevant risks. Some of the authors have already suggested fundamental aspects, including contractual accountability, regular risk assessments, updated risk strategies and joint risk management. These filtered recommendations for productive outcomes from the study of the data must be taken into account and integrated into risk management procedures.