5
November
by Jeffrey C Kadlowec, Registered Architect Construction has become one of the fastest growing industries with a significant impact on local economies [1]. Proper planning and management of risks is essential in completing large (and small) development projects on schedule, within budget and to good quality. That process involves analyzing various risks, classifying them by impact and probability, and formulating mitigation plans. Practical recommendations and improved performance can be obtained by predicting risks and through continued development of response methods. Identification of risks by survey of established construction companies provides us with the following categories: 1) technical, 2) financial, 3).
