Determination of the Priority in Risks Management of Construction Projects

Abstract

Construction projects are faced to a state of uncertainty and an increase in the likelihood of multiple risk types, since that the achievement of these projects goes through several stages. The first is the decision stage and other stages ending with the maintenance phase of these projects, which leads to increase in the length of the period of completion, and privacy enjoyed by construction projects and distinguishes them apart from the rest of the projects. This uncertainty appears in the uncertainty of control to achieve the objectives of the projects, which are, the time of completion, the cost and quality of work, in addition to the safety of these projects professionally. This uncertainty can be overcome through analysing risk to these projects and then managing them and studying the results. Several studies have been made in this field, including this study. The aim of this research is to study the different types of risk and its impact on a variety of construction projects and then determine the most important risk in order to confront it by identifying its maximum and minimum index of importance; and so correctly using the project budget and not wasting it in facing of other risks with less importance; as well as study the most important procedures of response to these risks. The achievement of these aims was through the views of a number of experts in the construction industry in the field of risk management through questionnaire (exclusively) for the purpose of reaching a certain strategy in how to manage them correctly. One of the main conclusions reached by the research is that the two risks: lack of plans for the networks service passers through the site electrical such as a chart, telephone, water, etc. and differences between the required implementation specifications as a result of a misunderstanding of the drawings and specifications have the most important influence on construction projects, and put contractual conditions is the most appropriate procedure in response and confrontation risks.

Keywords: Construction industry, analysis and risk management, uncertainty, risk index