Construction projects risk management by risk allocation approach using PMBOK standard

Projects’ managers in plenty of construction projects which are assumed that are under control, are facing risk as an unknown occurrences and they are attempting to control it and are suffering more costs. Though, by a comprehensible effort and applying risk management, risks are identified and controlled before happening or a plan is provided in order to deal with these occurrences and time and cost are saved. Construction projects are encountering uncertainties in regard with achieving their goals. Thus, they have to be controlled and appropriately responded by risk management methods. In this regard, risk management process in PMBOK standard can be a suitable approach to solve this problem. Due to necessity of resource optimal spending, this process has a considerable importance. In this project, 11 important risks in Mehr housing project in Hashtgerd city have been identified. All of objectives of risk management have been brought in the table entitled “Risk Register” and it has been practically given to project management.

Risk Management, Uncertainty, Risk Tracking, Preventive Activities