Problems arising in construction projects are complicated and usually involve massive uncertainties and subjectivities. Compared with many other industries, the construction industry is subject to more risks due to the unique features of construction activities, such as protracted time span of projects, complicated processes, abominable environments, huge financial investments and dynamic organisational structures.
In other words, construction projects are initiated in volatile environments, resulting in circumstances of high uncertainty and risk, which are compounded by demanding time and budget constraints. So, managing risks in construction projects is very essential to completing the desired projects on time with minimum cost and highest quality.
Trying to eliminate all risks in construction projects is impossible. Thus, there is a need for a formal risk management process to manage all types of risks. Risk management is a formal and orderly process of systematically identifying, analysing and responding to risks throughout the lifecycle of a project to obtain the optimum degree of risk elimination, mitigation and/or control.
This special issue focuses on identifying, assessing and managing risks in construction projects in order to achieve project objectives, at least in terms of time, cost, quality, safety and environmental sustainability, during the project’s life cycle.
Suitable topics include, but are not limited to, the following:
- Risk identification and assessment in construction projects
- Risk management techniques
- Managing risks in the global construction industry
- Construction engineering
- Construction project life cycle
- Construction risk analysis and evaluation
- Risks in engineering projects
- Construction project management
- Risk impacts in the building and construction industry
- Risks in construction scheduling
- Case studies in risk management and other related issues
Full article submission: 1 April, 2014
Review results back to authors: 1 June, 2014
Revised article submission: 1 July, 2014
Final accepted articles submission: 1 September, 2014