Transcription of ANALYSIS OF MAJOR RISKS IN CONSTRUCTION PROJECTS
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ANALYSIS OF MAJOR RISKS IN CONSTRUCTION PROJECTS
VOL. 11, NO. 11, JUNE 2016 ISSN 1819-6608. ARPN Journal of Engineering and Applied Sciences 2006-2016 Asian Research Publishing Network (ARPN). All rights reserved. ANALYSIS OF MAJOR RISKS IN CONSTRUCTION PROJECTS . K. Jayasudha and B. Vidivelli Department of Civil and Structural Engineering Annamalai University, Chidambaram, Tamil Nadu, India E-Mail: ABSTRACT. Risk management is thus in direct relation to the successful project completion. Project management literature describes a detailed and widely accepted risk management process, which is constructed basically from four iterative phases: risk identification, risk estimation, risk response planning and execution, often managing the risk management process is included. CONSTRUCTION project planning is an essential element in the management and execution of CONSTRUCTION PROJECTS which involves the definition of work tasks and their interactions, as well as the assessment of required resources and expected activity durations.
extent to which the industry uses risk analysis and management techniques with the help of a questionnaire survey of general contractors and project managers. The author concluded that risk management is essential to construction activities in minimizing losses and enhancing profitability. Construction risk is generally perceived as
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