A Study of Risk Management Techniques for Construction Projects in Developing Countries

Risks have significant impact on construction projects in terms of its primary objectives. Construction projects which are intricate in nature, uncertainty and risks in the same can develop from different sources. The record of the construction industry is not acceptable in terms of coping up with risks in projects. Risk management is a process which consists of identification of risks, assessment with qualitatively and quantitatively, response with a suitable method for handling risks, and then control the risks by monitoring.This study proposes to apply the risk management technique which includes well - documented procedures for the one stop solution all types of hazards most likely to occur during any construction project Lifecycle.