Masters
Essay
Engineering and Construction
Pages 40 (10040 words)
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ASSESSMENT OF RISK MANAGEMENT PERCEPTIONS AND PRACTICES OF CONSTRUCTION CONTRACTORS IN SAUDI ARABIA Submitted in partial fulfillment of the requirements for the course Author Declaration I hereby acknowledge that the work I have submitted is my own original work and that I attest the fact that this is not copied from any other work and the sources are properly referenced…

Introduction

From the time, a project is started, from planning and design to the actual construction, risks start to come in and create multiple stresses and problems for contractors and managers. But risk managers and contractors have their own way of dealing with those risks – experience and intuition. Of course, they know that education and formal training do help a lot. But when it comes to unmanageable risks, experience has a lot to do in dealing with it. The literature for risk management, the different concepts, theories, beliefs and systems of risk management were sourced from physical and on-line libraries, journals, books, etc. There is no scarcity when it comes to risk and the literature about risk. After sourcing out the voluminous literature on risk management, and analysis was conducted and correlated with the primary research. The primary research was conducted on contractors of the Saudi Arabia construction industry. The names and email addresses of these participants were taken from databases, government list of contractors, and phonebooks. Questionnaire surveys were conducted on the participants. Analyses of the literature and the results of the survey were correlated. ...
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