TO STUDY THE FACTORS AFFECTING CONTRACTORS PRESPECTIVE IN RISK MANAGEMENT
Author(s):
Soji Rajan, Dr. T.R .Sethuraman
Keywords:
Risk management factors, Identification risk; Construction industry; Construction management
Abstract
Risk management is an integral part of any construction industry particularly in a developing country where there are massive construction projects to be handled in the future. An effective risk management method can not only help contractors to understand the types of risks they might incur in different phases of a project, but will also facilitate them in management of those risks. Construction projects is a mission, undertaken to create a unique facility, product within the specified scope, quality, time and cost. The main objective of this study are to investigate whether contractors perspective in risk management and if it is being considered then how it is being practiced. Also, to determine the risk evaluation techniques and risk factors which contractors consider and the strategies which they design, implement and control to eliminate or mitigate the impact of risk in projects. The construction industry is often considered as risky business due to its complexity, strategic nature, and the nature of its business activities, processes, environment, and organization. Risk in construction has been the object of attention because time and cost overruns associated with construction projects. An intense literature review was conducted to determine the risk techniques, risk factors and risk management actions that are suitable for construction industry.
Article Details
Unique Paper ID: 163019

Publication Volume & Issue: Volume 0, Issue no

Page(s): 421 - 427
Article Preview & Download


Share This Article

Join our RMS



Conference Alert

NCSEM 2024

National Conference on Sustainable Engineering and Management - 2024

Last Date: 15th March 2024

Latest Publication

Call For Paper

Volume 10 Issue 10

Last Date for paper submitting for March Issue is 25 June 2024

About Us

IJIRT.org enables door in research by providing high quality research articles in open access market.

Send us any query related to your research on editor@ijirt.org

Social Media

Google Verified Reviews

Contact Details

Telephone:6351679790
Email: editor@ijirt.org
Website: ijirt.org

Policies

Important Links

Browse Rsearch papers