Identifying And Managing Vital Risks In Construction Projects

Sakshi Gupta, Post Graduate student, National Institute of Technology, Kurukshetra

Introduction
"No construction project is risk free. Risk can be managed, minimized, shared, transferred or accepted. It cannot be ignored." Risk is a state of uncertainty where some possible outcomes have an undesired effect or significant loss. Uncertainly is meaning that the lack of certainly due to limited knowledge that it is impossible to state the outcome exactly, perhaps, more than one possible outcome happens. Risk is a state of uncertainty where some possible outcomes have an undesired effect or significant loss. Uncertainly is meaning that the lack of certainly due to limited knowledge that it is impossible to state the outcome exactly, perhaps, more than one possible outcome happens.

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NBM&CW April 2014
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