A review of risk management process in construction projects of developing countries

In the construction industry, risk management concept is a less popular technique. There are three main stages in the systematic approach to risk management in construction industry. These stages include: a) risk response; b) risk analysis and evaluation; and c) risk identification. The high risk related to construction business affects each of its participants; while operational analysis and management of construction related risks remain an enormous task to practitioners of the industry. This paper tends towards reviewing the existing literature on construction project risk managements in developing countries specifically on risk management process. The literature lacks ample risk management process approach capable of capturing risk impact on diverse project objectives. This literature review aims at discovering the frequently used techniques in risk identification and analysis. It also attempts to identify response to clarifying the different classifications of risk sources in the existing literature of developing countries, and to identify the future research directions on project risks in the area of construction in developing countries

Risk factors affecting the construction projects in the developing countries

This review focused on the identification of critical risk factors that influence the construction projects conducting in the developing countries. In order to attain this goal, a comprehensive literature review on risk management of the construction projects, particularly emphasizing on the developing countries was carried out. The identified risk factors can be a lead to achieve the goals of the project which includes time, cost and quality. This review used specific criteria to extract the risks factors based on the main purpose of the study. A sum total of 111 risk factors were figured out from the previous studies. Based on the criteria used for the classifications, 56 risk factors were observed as the most crucial risk factors influencing the construction projects of developing countries

Risk factors influencing the construction projects in Yemen from expert's perspective

This purpose of this study is to validate the important risk factors influencing the construction projects in a developing country of Yemen by using experts' evaluations and literature review. These factors influence the project's quality, time and cost. The semi-structured interviews were employed through online means using thirteen experts to achieve the set objective. Depending on the expert's overviews, out of 56 considered factors, 42 factors were assigned as the most related risk factors influencing the construction projects in Yemen. The obtained outcomes from this study can serve as the risk factors for building blocks in establishing a conceptual model to manage risks of the construction projects in Yemen

A review on causes of cost overrun in the construction projects

Cost overrun is a frequent phenomenon in the construction projects in all countries, whether it developed or developing country. This problem is critical issues that affect project success. Thus it requires serious attention from all participants in construction projects to keep the projects in safe mode, to be completed within its limited cost, time and quality. Cost overrun have negative impact in performance of construction projects, that because construction industry is huge and complex. Any problem occurs through the life cycle of project lead to other problem in different parts of project. Through literature review many researchers studies cost overrun and indicated the most causes of cost overruns according to their studies. The current study aims to highlight the most causes of cost overrun in construction projects. These causes are classified into ten main groups according to their sources, namely: Design and contract related factors, Estimation related factors, Planning and Schedule related factors, Project Management related factors, Labour related factors, Financial related factors, Material and Machinery related factors, Construction Phase related factors, Communication Related Factors, External related factors. The importance of current research is to summarize the most important causes of cost overruns in construction projects, thus helping project participants to identify the sources of these factors to address them and mitigate their negative effects