Economic crisis management in construction projects - A Review

Abstract

You Many of the construction industries have accepted increasing importance of economic crisis management to control risks. Economic crisis and their management have been critical issues which are related with projects, the construction company and their customers are related with higher chances of risk. The reason for their higher risk is their construction process and activities, their background and their organization. This study is related to economic crisis which immediately taken part in the construction project. The risk in the construction projects is usually identified as an event that highlights objectives of manpower, material and money. The ideas at various levels of construction industries have been collected through literature survey and their results have been analyzed in this paper. From this literature study, the situations influencing economic crisis were studied and recommendation has been expressed to devastate those economic crisis situations.

Keywords

• risk management
• economic crisis
• contractors
• risk perception
• contractors