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The Impact of Risk Management Practices on the Performance of Construction Projects

ALSaadi, Nasser, Norhayatizakuan, Norhayatizakuan·2021·Studies of Applied Economics
DOI 10.25115/eea.v39i4.4164
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Abstract

Construction performance and risk management has been widely discussed in the literature from various perspectives. The main objective of performing risk management in construction industry is to ensure timely delivery of good construction within sepecific budget. However, the failure of many construction projects in meeting deadlines, cost and quality targets is continuously on the rise and there are signs of accentuating year after year suffering significant financial losses of construciton works in Oman. Therefore, there is a need for empirical evidences to explain the relationship between risk management and project performance. This study applied quantitative methods to examine this relationship. Construciton companies from grade excellent to grade second in Oman haven included in the survey. The result revealed that practicing risk managementimprove the performance of construciton project significantly. Based on this result it is essential to hire qualified project managers who has sufficient knowledge in risk managmeent and its main activities.

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Research works printed but not linked: 20

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Metadata

Authors
ALSaadi, N., & Norhayatizakuan, N.
Venue
Studies of Applied Economics
Publisher
Editorial Universidad de Almeria
Published
2021-05-04
Volume
39
Issue
4
ISSN
  • 1697-5731
  • 1133-3197
DOI
10.25115/eea.v39i4.4164
Cited by
16
References
2

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