Analysis, Perception and Aspects of Risk Management in the Construction Sector of Pakistan

Abstract

Management of risk is very significant in the construction sector of Pakistan. Firstly, risk and uncertainty are defined and described in detail. Risk management and risk management process is also defined, described and explained. This risk and risk management provided necessary details and background for this study. A questionnaire survey was conducted for collection of data and information about risk management in Pakistan. Interviews were also conducted for the deeper investigation, study and analysis of the particular specific aspects of risk management in construction sector of Pakistan. Data analysis was done on the basis of data, information, ideas and views regarding risk management from the results of questionnaire survey and interviews. In data analysis, we discussed the aspects of risk management, documentation analysis, research trustworthiness, contracting types and the role of collaborative relationships such as relational contracting and joint risk management. This analysis and discussion provided the important concepts of better and effective risk management.

Keywords: Construction Project, Risk Management, Questionnaire Survey, Interview, Analysis.