Including Risk Management in Construction Projects

Revision as of 10:54, 10 September 2016

Abstract

Construction is an inherently risky domain, as its projects are submitted to several contingencies, from the weather that may delay the project’s completion to limited involvement of some stakeholders or even accidents. Contrarily to other industries however, Construction have not really implemented structured risks management methods to handle those threats to each and every project.

The following article will try to handle that issue. As such it will define a risk and point out that risk management methods are really necessary within the management of a construction project. A short review of the methods currentlyused for managing the risks in the Construction buisness will point out that what is currently used is very unsatisfaying.

To adress this lack, we will then see the process used in general to treat risks within a project, and then list a few usefull tools. Those tools will not be explained (on how to use them) as other articles on this wiki do it, but their benefits for a project will be detailled.

Finally the limitations of risk management and its benefits will be detailled in the conclusion.

Summary

- Definition of a risk

Short theoretical definition of a risk

- Presentation of the main risks a construction project may face

List of the main risks as defined by companies and scholars, and put into some categories

- Current methods currently used to deal with risks in a construction project

General overview of risk management techniques used by companies today, as defined by some studies

- General method in risk management

General overview of a risk management process

- Tools applicable for Construction project

List of some method applicable to a Construction project, and their benefits

- Conclusion and limitations