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Risk Management

  • Alberto De Marco
Chapter

Abstract

Risk is an inherent part of any undertaking and, particularly, of construction projects. Project Risk Management techniques and practices try to bring the random uncertainty of a project into the field of a measurable uncertainty based on past experience and historical data statistical usage. Project Risk Management is the process of identifying, analyzing and responding to project risk. In this chapter, risk identification is first presented based on the principles of risk breakdown structures, along with techniques to identify risks. Second, the process of analyzing risk and quantifying probable costs associated with risk is highlighted, as well as contingency budget and plan. Finally, the main methods and practices to respond to project risk via risk plans and contingency management are outlined.

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Copyright information

© Springer International Publishing AG, part of Springer Nature 2018

Authors and Affiliations

  1. 1.Department of Management and Production EngineeringPolitecnico di TorinoTurinItaly

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