A Guide for Risk Management in Construction Projects: Present Knowledge and Future Directions

Construction projects are well known to be prone to a high level of risk that cannot be ignored but can be managed. Researchers have studied numerous aspects of risk management including identification, analysis/assessment, response and control. Despite the fact that studies focused on risk management in construction projects have been increasing, there seems to be a limited number of published studies that summarize what has already been presented in the literature. In this regard, this chapter aims to present the existing literature on risk management from a holistic perspective and provide a guide for future directions. With this aim, a systematic literature review has been undertaken by presenting the areas focused on by researchers as well as neglected ones, by indicating the trends in research through the years and by discussing research gaps for potential studies

An in-depth investigation of digital construction technologies from a building economics perspective

While initial costs in building economics cover a small portion of the costs incurred during its life-cycle, most occur in construction, operation, and subsequent processes. Despite its numerous contributions to building economics, the construction industry is slowly adapting to digital technologies. To overcome the barriers and crown the assets with their proper management, dynamic applications of digital tools and techniques of Industry 4.0 need to emerge in the construction industry. Therefore, this study aims to present an integrative approach that combines quantitative and qualitative analysis techniques to critically review the available literature on the potential contributions of digital construction technologies to building economics through the post-design phases of the life cycle. The primary focus of the investigation is how digital technologies can overcome prevalent problems and how they can impact building economics. The study contributes to the field by providing an awareness that will inform researchers and practitioners of the trends, gaps, and more profound exchange of ideas in future research efforts