Risk Management implementation and presenting the applicable methodology for its implementation in construction projects

Russia Moscow State University of Civil Engineering (National Research University), 26, Yaroslavskoye Shosse, 129337, Moscow, Russia

^* Corresponding author: fahratov@mail.ru

Abstract

The main task of the project manager is risk management. However, this task can be very complicated and inefficient if risk management is not considered from the beginning of the project. An effective risk management approach requires a systematic and appropriate approach, knowledge and experience. Studies of many projects have shown that both the owner and the contractor do not regularly implement risk management practices, which can have negative consequences on project performance. Because of the above-mentioned issues in this study, it is attempted to first evaluate the concepts of project risk management based on different and valid standards, to evaluate risk management in construction projects. Then, an attempt has been made to present an implementation approach for implementing six stages of risk management in projects. For this purpose, based on the experiences of the project “Lala Residential Complex” in Kabul, as a case study, the experimental application of the proposed method in this study, step by step, along with forms designed for follow-up and Implementation of process steps have been evaluated and evaluated in accordance with the PMBOK standard by the Project Management Institute (PMI) to ensure that it is moving toward achieving project economic risk management goals.