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Construction projects carry many risks due to their high costs and complexity. These risks can affect factors such as the project budget, timeline, and quality, and ultimately determine the success or failure of the project. That is why risk management is of great importance in construction projects.

Risk management is the process of identifying, analyzing and taking precautions against the risks that may occur in a project. Risk management in construction projects addresses many different risk factors, among them are Dec:

Natural disasters (earthquakes, floods, etc.)

Material quality

Worker safety

Equipment failures

Labor strikes or actions

Project financing and budget

The risk management process includes the following steps:

Identifying risks: At the beginning of the project, possible risk factors are determined and the possible effects and consequences of each risk are examined.

Analyzing risks: The probability, impact and duration of the identified risks are evaluated. As a result of these evaluations, the priority of risks is determined.

Taking precautions against risks: Measures are determined for important risk factors and these measures are applied. Measures are carried out by eliminating the risk or reducing its impact.

Monitoring risks: Monitoring and evaluation of risks are carried out continuously during the project. During this process, new risk factors, if any, are identified and measures are taken as necessary.

Risk management means taking a proactive approach to possible risk factors in construction projects. This approach is applied at every stage of the project to ensure the success of the project and to take the necessary measures to cope with the risks.