Jul 2026· World Journal of Advanced Engineering Technology and Sciences· Vol 20, pp. 261-269· 0 citations
Abstract
Construction projects are inherently complex and uncertain due to the involvement of multiple stakeholders, dynamic site conditions, financial constraints, and technical challenges. These uncertainties expose projects to various risks that may adversely affect cost, time, quality, safety, and overall project performance. Risk analysis plays a crucial role in identifying, assessing, and mitigating such risks to improve decision-making and project success. This review paper presents a comprehensive analysis of risk management concepts in construction projects, focusing on risk identification techniques, qualitative and quantitative risk analysis methods, and commonly encountered risks across different project phases. The study also reviews recent literature on risk analysis models, tools, and methodologies adopted in construction project management. Finally, gaps in existing research and future research directions are discussed to enhance the effectiveness of risk analysis practices in the construction industry.
Construction projects are characterized by high levels of uncertainty that may affect project cost, quality, and schedule performance. Effective risk management is therefore essential to determine contingency costs that adequately reflect project risks. This study aims to identify dominant construction work packages ba...
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Construction project time and cost overruns continue to pose a significant performance challenge, hindering financial viability, delivery certainty, and stakeholder confidence. Although time and cost overruns are common, treating them as separate issues often diminishes the effectiveness of risk mitigation strategies....
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Quality failures in construction projects increase costs through failure costs, which are primarily driven by project implementation risks. Quality cost management and risk management are often conducted separately, resulting in limited integration for decision-making, particularly in civil construction projects within...
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Variation orders frequently disrupt construction project performance, causing cost overruns, delays, and inefficiency. While prior studies have examined their causes and impacts, limited research has compared effects across project scales, particularly in developing countries. This study identifies dominant factors cau...
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In the implementation of construction projects, particularly the Mataram Mayor's Office Development Project, various risks may lead to cost overruns, delays in project completion, and reduced work quality. During the construction phase, contractors face various uncertainties; therefore, effective risk management is req...
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According to a review of different authors' work, there are numerous risk factors that could impact the final account sums (FAS) of construction projects, causing variations in contract sum (CS). By minimising the variability between the final account sum FAS and CS, a compelling risk study could help resolve this issu...
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