Main Article Content
Abstract
No construction project is risk free. Risk can be managed, minimized, shared, transferred or accepted. It cannot be ignored. Moreover, construction, it is held, is exposed to more risk and uncertainty than perhaps any other industry sector. An effective and efficient risk management approach requires a proper and systematic methodology and, more importantly, knowledge and experience. 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 controls the risks by monitoring. This study proposes to apply the risk management technique which includes well. This paper aims to identify and analyse the risks associated with the development of construction projects.