Common Risk Factors in Construction Sector – A Review

Abstract

Construction projects are typically exposed to a variety of risks throughout their life cycle, all of which impede project progress and significantly influence project objectives, such as budget, schedule, scope, quality, safety, sustainability and stakeholder satisfaction. This review aims to comprehend the risk identification techniques, risk classifications and common risk factors in the construction sector. Understanding these factors in the construction process at such a preliminary phase (beginning) will assist construction practitioners in managing risk in a manner that has the most negligible effect on project objectives and produces the most positive results. Content analysis methodology was used to examine the construction risk identification techniques, risk classification and common risk factors in the construction sector. This review identified 31 risk identification techniques, 23 groups of risk classifications, and 74 common risk factors in the construction sector. Sets of recommendations were proposed for future studies.