Many construction projects fail today, not because of poor project planning, but because of poor project management and inefficient risk monitoring and control.
Successful construction project managers efficiently manage the numerous environmental, financial, socio-economic and technical risks that impede the work flow of the construction project, its scope, and its time and cost planning. This book explores the factors that lead to efficient and inefficient risk management in the construction sector: It identifies the key risks associated with construction projects, the role and significance of risk management, the causes of project failure, and the strategies and approaches to risk management that minimize failure. Its information is based on a review of the risks and risk management practices in the UK construction sector and a 2022 survey of 100 UK project managers' views on factors that contribute to the failure of projects, such as scheduling-oriented challenges, resource scarcities and technological malfunctions, as well as methodologies and tools that contribute to the success of projects, such as the critical path method and Gantt chart technique, artificial intelligence and agile methodologies, including the scrum technology.