Abstract
Risk management was applied to many organizations. There was a risk of multiple and complex manner in the construction industry, because it has a variety of elements. The application of risk management was therefore used in solving problems that suffer from the past to create an alternative to proper functioning under conditions. This article studied the main application to risk management in the construction industry by the sample texts document. The applying of risk management in the construction industry was 3 stages of risk management which were the risk analysis, risk assessment, risk control and follow-up, which was used to store information in the past and brainstorm by virtue of experience, expert tips and techniques to determine the risk analysis and risk evaluation of a mathematical methodology combined with the master planning of construction work to analyze, evaluate the risk under different condition and situations. Control, risk monitoring and risk assessment were a small amount so it should be a topic of research in future rely on notes and update the plan. The three important things for the applying of risk management in the construction industry were personnel, information and continuous learning.
Highlights
Risk management was one of the tools for management
Organization might be able to indicate the event that may occur, impact assessment and organization determine how appropriate management of risk at an acceptable level. This was to ensure confidence in the level of performance-based missions will be able to achieve the objectives set forth” risk management approach was used in the development and control of the organization by The Committee of Sponsoring Organizations of the Treadway Commission (COSO) who had led competing conceptual guidelines with integrated risk management of the
Development of a tool for risk management in the construction industry had been applied with all relevant organizations, including the data from past projects to improve necessary performance of planning and risk assessment solutions to the project in the future
Summary
Risk management was one of the tools for management. There was operating to effectiveness by analyzing the events that have the potential to occur and affect the operation of both positive and negative. Organization might be able to indicate the event that may occur, impact assessment and organization determine how appropriate management of risk at an acceptable level This was to ensure confidence in the level of performance-based missions will be able to achieve the objectives set forth” risk management approach was used in the development and control of the organization by The Committee of Sponsoring Organizations of the Treadway Commission (COSO) who had led competing conceptual guidelines with integrated risk management of the. Resulting from the decision of the owner of the project and proposed risk management patterns developed from Information Measurement Theory and Performance Information Procurement System to study, test and application of construction project in Saudi Arabia. Resulting from the decision of the owner of the project and proposed risk management patterns developed from Information Measurement Theory and Performance Information Procurement System to study, test and application of construction project in Saudi Arabia. [7] The study of risk management in large projects, from literature to determine which risk as the first step of the risk management process which affected the risk management process was the step, including the risk to the project's partnership to improve risk management in large scale projects
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