Using the bowtie method to evaluate the risks in a construction project
Revision as of 18:36, 13 September 2016
Contents |
Abstract
The main goal of risk management in construction projects, is to give the companies and project managers different skill sets to deal with the threats that occur during all phases of the project.
The risk exposure for construction projects arise from the very beginning of the development idea, to the handover and operation. During all phases there are many aspects where risk is involved. A few of these aspects include, project material e.g. architectural drawings, communication platforms, safety of craftsman, weather conditions, force-majeure, finances and stakeholder engagement.
The potential time and economical savings in construction projects can be achieved by adopting risk management where suitable measures are used to avoid errors and mistakes in the future.
The article includes an introduction to risk management within construction projects, the processes that are linked to risk management and a description of methods from identifying risk to a risk-response plan. The article will end up with a brief summary of benefits and limitations in risk management for construction projects.
