Risk Management Practices in a Construction Project - a case study

Risk management is a concept which becomes very popular in a number of businesses. Many companies often establish a risk management procedure in their projects for improving the performance and increase the profits. Projects undertaken in the construction sector are widely complex and have often significant budgets, and thus reducing risks associated should be a priority for each project manager. This master thesis presents an application of risk management in the early stage of a project life cycle of a construction project. In order to examine how risk and risk management process is perceived a case study of a school project was chosen. Moreover, based on the conducted interviews, the research presents how risks change during a project life cycle. All analyses are based on a theoretical background regarding risk, risk management process and project life cycle approach in the construction sector.