Risk management and its effect on reducing the project risks

Abstract

A successful risk management process enhances the construction project to recognize and measure risks and to believe risk repression and risk reduction rule. This study identifies the Risk management and its role in reducing the project risks. The sample of the study was 50 managers of construction projects in Jordan. The researcher used descriptive method and develop questionnaire to collect data. The results of the study showed that there is a statistically significant effect of the impact of risk management to reduce the risk of the project, there is a statistically significant effect of the impact of risk management to reduce the risk of the project related on time, there is a statistically significant effect of the impact of risk management to reduce the risk of the project related on cost, and there is a statistically significant the impact of risk management to reduce the risk of the project related on quality. This study recommended the Establishment of  training courses on risk management and Interest in forming a team to manage the risks in the company, also to allocate a budget for risk management.

Key words: Risk management, project risks, Risk management plan, Risk impact.