BibTeX:

@article{IJIRSTV3I6031,
     title={Various Risks Involved in Highway Projects},
     author={Gopesh Chugh and Dr. R.R. Singh},
     journal={International Journal for Innovative Research in Science & Technology},
     volume={3},
     number={6},
     pages={131--135},
     year={},
     url={http://www.ijirst.org/articles/IJIRSTV3I6031.pdf},
     publisher={IJIRST (International Journal for Innovative Research in Science & Technology)},
}

The construction industry is exposed to wide array of risks such as financial, design and contractual ones, which might have direct impact on their performance towards achieving the desired objectives. This study aims to identify the actual process of risk management that is being applied in construction projects & to determine the effects of risk management implementation on performance of construction project in terms of time and cost. Risk management is decision making process used to minimise and manage the risk in efficient and appropriate manner. Most of construction employees involved in risk management are not fully aware of available risk management technique that applied in highway projects. The construction industry and its clients are associated with a high degree of risk due to the complex nature of the construction process. Construction Risk Management must be given adequate attention in order to ensure a successful project that meets the expectation of project goals and objectives thus risk management practice in a country with respect to highway projects is explored in this study. The study recommended adequate training for all stakeholders in highway construction sector to improve management of risks thus meeting project goals of time, approved budgets, and quality, imbibing the health and safety culture, and in an environmentally acceptable manner.

Risk Management, Risk Assessment, Risk Drivers, Highway Construction, Operational Risks