Abstract
Risks exist in every form of construction project. The risks associated with construction projects are often diverse and varied and the management of these risks is nowadays considered compulsory in order to achieve project success. This paper analyses the diverse strategies of risk mitigation that have been employed in construction projects. These strategies are classified into analysed categories of procurement strategies. contingency and co-operative approach along with the utilisation of a designated risk manager. The analysis showed that in order to improve risk mitigation within the construction industry, there is a requirement tor an industry based standard. This standard will improve the efficiency and effectiveness of the risk mitigation response technique to risk management.
| Original language | English |
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| Title of host publication | Proceedings of the the 1st International Conference on Sustainable Construction and Risk Management, held in Chongqing, China, 12-14 Jun. 2010 |
| Publisher | UAPRESS |
| Pages | 250-254 |
| Number of pages | 5 |
| ISBN (Print) | 9781926642031 |
| Publication status | Published - 2010 |
| Event | International Conference on Sustainable Construction and Risk Management - Duration: 1 Jan 2010 → … |
Conference
| Conference | International Conference on Sustainable Construction and Risk Management |
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| Period | 1/01/10 → … |
Keywords
- risk management
- construction industry