Study Of Risk Management In Construction Projects

Abstract

Construction industry is one of the most important industry in engineering field. For every construction industry it is necessary to do the project on time and within the budget to achieve the goal. But there are some problems occurs during execution of project which affect the cost and time of project. Risk management plays an important role in construction industry. Risk management in construction projects is very important process to complete the project goals as far as time, cost, quality, safety and environmental sustainability. Construction projects are one of the challenging task to complete as there are many problems come across during actual working of project. Hence it is necessary to face these problems so that we can achieve our goal. Risk management is one of the tool used in construction industry to minimize the risk related to the construction projects. This paper deals with what is risk, risk management, different types of risk.