An Extensive Literature Review on Risk Assessment Models (Techniques and Methodology) for Construction Industry

Abstract

This study looks into the many methods that are used in the risk assessment procedure that is used in the construction industry nowadays. As a result of the slow adoption of novel assessment methods, professionals frequently resort to strategies that have previously been validated as being successful. When it comes to risk assessment, having a precise analytical tool that uses the cost of risk as a measurement and draws on the knowledge of professionals could potentially assist bridge the gap between theory and practice. This step will examine relevant literature, sort articles according to their published year, and identify domains and qualities. Consequently, the most significant findings have been presented in a manner that is consistent with logic and is predicated on the temporal evolution between 1990 and 2015.

Keywords

• Construction Project Risk
• Risk Analysis
• Risk Assessment Techniques
• Risk Models