ISSN (Online) : 2456 - 0774

Email : ijasret@gmail.com

ISSN (Online) 2456 - 0774

RISK IDENTIFICATION ANDMITIGATION IN CONSTRUCTION PROJECTS: A REVIEW


Abstract

Abstract: Risks are very usual in constructionindustry. It is affect on various project objectives like safety, quality, andthe cost of the overall project as well as the environment. Risk is uncertainand this uncertainty depends on many critical risk factors like (history,management stability, team size, resources availability etc.). Risk is comesfrom anywhere and anytime and specially in construction industry it doesn’tmatter how the project size is (in terms of budget). It is require to manageall those risks properly with proper risk mitigation techniques and also theproper risk management otherwise there will be possibility of delay in theproject. Risk management basically fall in four steps, first step is toidentify the risks, second is assessment of risk with qualitative andquantitative methods, then the second last step is to prepare a plan to respondthat particular risk and the last step is to control the risk. This paperpresents a review of previous study conducted on to identify the risks and howto eliminate it with proper techniques and risk management and also discussabout factors affecting during the project under construction.

Keywords- Risk, Construction Industry, Risk Management,Risk Mitigation, Construction Project Management

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