Topic > Construction Risks in Construction Projects

After carrying out the analysis and measuring the risk, you need to prioritize using the risk index number. And risk with high index no should be followed up immediately with an action plan. Risk Response Planning Some of the common risk mitigation plans for the above risks are conducting technical lessons to increase local labor skills and knowledge, developing adequate environmental analysis and following all government regulations, focus the focus on the main purchases of materials sensitive to the volatility of raw materials and exchange rates, evaluate cost risks, the various suppliers, involve expert consultants. Risk response can be divided into four types in construction projects: risk acceptance, risk avoidance, risk mitigation, risk transfer. Accepting the risk is the part where nothing is done to mitigate it. The company simply accepts the risk because the outcome of the risk is cheaper than mitigating the risk