RISK AND ITS MANAGEMENT IN CONSTRUCTION PROJECTS.
- Authors: JG PERRY; RW HAYES
- Source: ICE Proceedings, Volume 78, Issue 3, 01 June 1985 , pages 499 –521
Proc. InstnCio. Engrs, Part 1, 1985,78, Jun., 499-521 8809 GROUP MANAGEMENT ENGINEERING Risk and its management in construction projects The Paperpresents the concept risk management within the context the managementof of of constructionprojects.It is concernedwithfinancial risk ratherthanhazard.Themain emphasis is on the contribution which can be made to the avoidance of cost and time overruns commonly associated major with projects. three stages The main of risk management-identification, analysis, and responseare discussed, and relevant theory is briefly described or referenced. Risk management is particularly appropriate during three strategy, tender and phases of a project life-pre-sanction, development of contract preparation-and its application to each of these stages is illustrated...