Projects are initiated in complex and dynamic environments resulting incircumstances of high uncertainty and risk, which are compounded by demanding timeconstraints.
The industry has changed significantly over the past several years. It is an industrydriven primarily by governmental, private investors and the presence of securitized real estate that has increasedconsiderably. It is vulnerable to the numerous technical & business risks that often representgreater exposures than those that are traditional. Thus risk assessment need arises.
Risk assessment is a tool to identify those risks in a project and manage it accordingly with proper treatment. Risk assessment is defined in this study as a technique that aims to identify and estimate risks to personnel and property impacted upon by a project. The general methodology of this study relies largely on the survey questionnaire which was collected from the local building contractors and users of different sizes. A thorough literature review is initially conducted to identify the risk factors that affect the performance of the industry as a whole.
The survey questionnaire is designed to probe the cross-sectional behavioural pattern of risks within the industry