Identification and Management of Construction Site Risks in Construction Industry

Ho, Teck Ming (2020) Identification and Management of Construction Site Risks in Construction Industry. Final Year Project (Bachelor), Tunku Abdul Rahman University College.

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Abstract

Risk often varies in the likelihood of its occurrence and its impacts from one project to another and risk changes its nature during the project life. A lack of project information, particularly in the early stage of a construction project, always leads to a higher degree of risk associated with cost, time and quality. When risks are being realised as the project progresses, the increased level of certainty reduces the level of risk in the project. There are many factors affecting a successful construction project and risk plays an important role in the success of construction project. Construction site risks can bring significant impact to a construction project in terms of time, cost and quality. Hence, an effective risk management can bring greater rewards to project performance by enhancing productivity. In managing risk, identification of construction risks factors is very critical. Therefore, the study objective of this study is to identify various type of construction site risk and risk management techniques available to manage or reduce construction site risk in a risk management process associated with the Malaysia construction industry and to evaluate the practical measures that the various local construction industry players would take to respond to those risks.. A method of questionnaire was used to investigate the current trend of risk management implementation in Malaysia construction industry. Project Manager was targeted as respondents for this research study and a sample size of 331 respondents is required to carry out this research study.