Development of Risk Response Model to Handle Delays of Construction Projects

Due to the complex nature of construction projects, delay risks are more widespread in the construction sector than elsewhere. This poses a problem for the industry, since it is already at risk because of the recent recession due to COVID 19 Pandemic, the financial crisis arrested economic development in the construction sector with the result that investors’ confidence in the sector is severely depressed. In this situation, effective risk response is urgently required, since it aims to ensure that all project objectives, including avoiding delays, are met. In itself, the risk response process is a core element of risk management and perhaps the most important area needs to be improved. The aim of this project was to develop a model for effective risk response to help in controlling delay risks. First, the strengths and weaknesses of current risk response processes have been analysed through a comprehensive critical literature review. Common causes of delay risks have been identified and various traditional measures used for their control have been critically reviewed. The greatest deficiencies in all published measures of delay risks control in construction projects are related to the lack of risk response development and appropriate measures (preventative/mitigating), within the risk management process.