Risk Identification in Construction Industry

Construction industry operates in very uncertain situations subject to various kinds of risks arise during the execution of a project. This research was conducted to identify key risks factors involved during execution of a project, risk categories, latest trends/ practices in risk identification techniques, risk prevention and risk reduction methods being employed by contracting companies working in Pakistan and ranking them according to their importance/ usage. This research is conducted in Pakistan and major emphasize on contracting companies engaged in construction projects of various nature. I have analyzed the risk management trends of contracting companies. Some sites were visited during the collection of data. Data are analyzed through statistical tools in order to find actual facts and figures. I proposed some recommendations on the basis of this research to contracting companies.