Managing Risk in Construction Projects

Investment in any new project invariably carries risk but theconstruction industry is subject to more risk and uncertainty thanperhaps any other industry.

This guide for construction managers, project managers andquantity surveyors as well as for students shows how the riskmanagement process improves decision-making. Managing Risk inConstruction Projects offers practical guidance on identifying,assessing and managing risk and provides a sound basis foreffective decision-making in conditions of uncertainty.

The book focuses on theoretical aspects of risk management butalso clarifies procedures for undertaking and utilising decisions.This blend of theory and practice is the real message of the bookand, with a strong authorship team of practitioners and leadingacademics, the book provides an authoritative guide forpractitioners having to manage real projects.

It discusses a number of general concepts, including projects,project phases, and risk attitude before introducing various riskmanagement techniques. This third edition has been extended torecognize the reality of multi-project or programme management andthe risks in this context; to highlight the particular problems ofrisk in international joint ventures; and to provide more coverageof PFI and PPP.  

With case studies and examples of good practice, the book offersthe distilled knowledge of over 100 man-years of experience inworking on all aspects of project risk, giving sound practicalguidance on identifying, assessing and managing risk.