Risk Management Practices on Road Maintenance Projects in Malawi

Roads are an important catalyst for economic development least to mention the developing countries. They are part of the physical communication where passengers and goods are moved through from one point to another. In the process, business is transacted and the economy grows. It is therefore very important that the road network is expanded worldwide and not lease in developing countries such as Malawi in the Sub-Saharan Africa. Road projects entail huge financial investments and therefore it is necessary that such projects are carried out with low to zero expectation of failure as this means loss of resources and time. In order to expect a very low or almost zero rate of failure in the implementation of such projects, adequate attention must be paid to project management which in the authors view cannot be emphasized without mentioning risk. Thus Risk Management is key in the realization of successful project management. Sir Latham, says all projects operate in a risky environment and as such risk management must be part of project management.