A REVIEW ARTICLE ON RISK MANAGEMENT IN CONSTRUCTION PROJECTS

Abstract

Risks are very common in construction industry. The construction industry is widely associated with a high risk and uncertainty due to the nature of its working environment. Thus, the need of risk management is compulsory. Risk management is to identifying risk, analysis risk and provided most suitable treatments. Risk analysis is done to identify these risks in the project and manage it accordingly. By using probability and impact method which is a very simple method we can manage risk at construction projects. This paper present a review of need for risk management in the construction project