Answered You can hire a professional tutor to get the answer.
Need an research paper on construction project risk management. Needs to be 12 pages. Please no plagiarism.
Need an research paper on construction project risk management. Needs to be 12 pages. Please no plagiarism. This type of study has been intensively discussed over the past years. Most projects are being shared by two or more parties and the risks that could interfere with the development should be well defined to avoid instances of blame game or one party taking advantage of the other. For example, the product outcome of the construction industry has a very complex and dynamic actor-network. Another example includes issues like which member is supposed to get into, the motives, and interconnecting them to the company’s mission and vision. On the same, research on managing risk in the construction industry is not adequate. This makes it difficult to pick the possible risks that might arise. The risk source, which is an obstacle that can cause a variation in what is set in this case the output of the construction project, should be clearly identified. Then the risk itself should be set up and their consequences.
In the construction industry, people always have a reputation that there is a delay in delivery and failing to meet the budget. This clearly indicates that collection of the information about such risks is mandatory. It gives clear directions on how to go about risk management. Identifying risk sources has an advantage in that one is able to curb the need of identifying each and every single risk.
The foregoing analysis ascertained 20 key risks related to clients, contractors, government bodies, the external environment, etc. The roles of stakeholders and their responsibilities in the management of these risks are outlined below.
The tightness of the project schedule is rated as the highest point that causes most concerns among all factors discussed, which means that formulation of an appropriate schedule in the evaluation phase is very crucial to the delivery of the project. . .The clients have to prepare a feasible schedule that allows sufficient time but not to the extent of introducing redundancy in time too as time and costs are always tightly coupled, a long schedule will make the project more uneconomical and reduce viability. .
