Skip to main content

Posts

Showing posts from October, 2018

Types Of Risks In Construction Projects; An Overview

Risk is defined as an uncertain event or a situation which if arises affects a project objective. Risk Management refers to the process by which these risks are identified, assessed and managed in a way to minimize the impact on the project. Projects cannot have zero risks which is why management of risks in construction projects focuses on risk identification, analysis and its management to minimize the effect on the project objectives. Depending upon the size of a project, risk management may be carried out by a professional; an individual or a whole organization. Where repairing an office space could use the services of an in house risk expert, mega construction projects in the Gulf would require the services of a whole organization that has a panel of risk experts specializing in management of construction risks . Construction claims consultants in Dubai also employ experts in the field of risk, delays and damages. Types Of Risks In Construction Projects The