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Abstract

:
The construction industry is widely spread all around the world and bringing remarkable
structures for increasing the life standard of human beings. This revolution was developed
in last three decades and trend was set for making construction projects all around the
world. There are many types of risks involved in construction industry and decline the
progress and creates unwanted delays during construction projects. The construction
companies working efficiently with risk assessment tools are performing well and
completing their projects well on time and with higher standards of quality. The
construction companies that are not managing risk management system are facing severe
and are not able to complete their projects on time. These risks affect many stakeholders of
companies and require extra money, time, management and techniques to recover from
destruction occurred due to different kinds of risks. This study is providing information
about different kind of risks in all kinds of construction projects. The major target of this
dissertation is to assess different kinds of risks in construction companies from developing
countries. Therefore, this dissertation is providing brief and detailed information about
major risk factors and their contribution for increasing the risk. The identification of
different risks at early stages provides ways to deal with these risks throughout the project
and can be eliminated for better performance. The methodology is adopted to conduct
survey questionnaire from project managers of construction industry. The responses are
identifying different risk factors such as terrorism, war, lack of experts and lack of time. The
key risk identification techniques were brainstorming and checklists. The key risk analysis
technique was probability impact grid analysis and organisation can choose different risk
management strategies to minimize these risks. The new risk management plan is proposed
in this study for improving the performance of construction projects.