An Integrated Construction Risk Management Model Based on Project Life Cycle

Construction Research Institute of Malaysia (CREAM), Makmal Kerja Raya Malaysia
Publication Type:
Conference Proceeding
Proceedings of 2nd Construction Industry Research Achievement International Conference, 2009, pp. 1 - 6
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Risk management of construction projects is a complex problem. and each project has its key features, which means that project risk management strategies should be established according to each project's characteristics. For some construction projects, the risk migration effects arc significant. Project risks develop based on "chain effects" - risk factors in one construction stage may affect other stages, and risk events happen later can amplify the effects of previous risk events. III this case, integrating risk factors of different project stages and managing risks based on project life cycle is an appropriate way to establish risk management model. This paper proposes an integrated risk management model based on project life cycle, and uses the World Expo-axis project in Shanghai as a case study to validate the model.
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