Transcription of Risk Management in Construction Projects - InTech
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Risk Management in Construction Projects - InTech
Chapter 19 2012 Banaitiene and Banaitis, licensee InTech . This is an open access chapter distributed under the terms of the Creative Commons Attribution License ( ), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. Risk Management in Construction Projects Nerija Banaitiene and Audrius Banaitis Additional information is available at the end of the chapter 1. Introduction The financial and economic crisis has had an adverse impact on the Lithuania s economy and Construction industry. The GDP of Lithuania grew slightly in 2010, in contrast to a decrease of in 2009. Lithuania s GDP increased from in 2010 to in 2011. Annual GDP growth decreased from its highest point of , reached in the third quarter, to in the last quarter of 2011 [1,2]. Some industries, such as Construction ; trade, transport and communications; and the industry sectors were most affected by the crisis.
Risk management is one of the nine knowledge areas propagated by the Project Management Institute (PMI). The PMBOK® Guide recognises ... Risk Management in Construction Projects 433 investment in common stocks or government bonds, and some are specific to construction.
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