Risk Management in Different Construction Phases

Everyday thousands of building projects are realized all over the world. Each phase requires good decisions in order to take a step further towards the successful finish of the project. Negative consequences of made decisions or activities that can have different probabilities of occurrence and impact on other phases of the project are defined as risks. The purpose of risk management is to predict, reduce and avoid the risks and their consequences. Risks can also be transferred to other parts of the project in order to achieve the best final results in each area of the project. The goal of this paper is to show how important risk assessment and management in different phases of building projects One concept which is widely used within the field of RM is called the risk management process (RMP) and consists of four main steps: identification, assessment, taking action and monitoring the risks (Cooper et al., 2005). In each of these steps, there are a number of methods and techniques which facilitate handling the risks.