The perception and management of risk in Lithuanian construction company
Conference Paper
Overview
Research
Additional Document Info
View All
Overview
abstract
Risk analysis and management is nowadays a critical factor to successful construction project management,
as construction projects tend to be more complex, dynamic, always unique, and competition increasingly
tougher. Risk management helps the project participants – client, contractor, consultant, and supplier – to meet their
commitments and minimize negative impacts on construction project scope, cost, schedule (and quality, as a result).
The benefits of the risk management process include identifying and analyzing risks, and improvement of project
management processes and effective use of resources. This paper reports the research that aimed to discover how
Lithuanian contractor perceives the significance of the construction projects risks it faces and the extent to which it
employs risk response tactics
