Study of Management of Risk and Loss Control Program in Civil Engineering Projects
Mohammed Shareef Mahmoud Shareef1, R.K. Pandey2
1Mohammed Shareef Mahmoud Shareef, M. Tech Civil Eng, Construction and Management, Civil Engineer at Republic of Iraq.
2R.K. Pandey, M. Tech Civil Eng, Construction and Management, Civil Engineer at Republic of Iraq.
Manuscript received on January 27, 2013. | Revised Manuscript received on February 11, 2013. | Manuscript published on February 28, 2013. | PP: 299-304 | Volume-2 Issue-3, February 2013. | Retrieval Number: C1112022313 /2013©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Most of the construction projects are having their own risks and loss factors involved, and hence in order to control such damages we have use strategies to control those risk and loss factors related to project. In this article we are presenting the study over techniques for management of risk and loss control in construction projects. For construction projects, there are many risk and loss facets as well as complicated relations, which will influence it. The complicated relations include direct, indirect, obvious, implicit or unpredictable, What’s more, the various risk factors will cause different severity of the consequences. If you do not consider these risk factors, or ignore the major factors, they all will cause damage because of decision-making errors. Quality targets, time targets, cost targets are the three objectives of project management. In the construction project, the time objective is closely and inseparably related to the cost objective. Hence risk and loss management of construction period is a key part in the risk management of construction.
Keywords: Management of risk and loss control in construction projects.