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his article is entitled the Systematic Risk Management Approach for Construction Projects but in fact
it could be simply the Systematic Risk Management
Approach to Anything. Is the management of risk any different for construction projects than any other project? Is
the management of risk for a project any different to the
management of risk in business generally?
The answer has to be a resounding no! Construction projects, by their nature, complexity, value and size, clearly create
risks to the assets and the people working on the project,
and those who are affected by it. So do other projects, and
so does business! Therefore, is the approach that should be
taken to managing the risks of a construction project any
different to the approach to managing the risks of, say, a
mega acquisition or a review of company exposures? No!
The risk management approach is the same, albeit the
results may well determine risks of a different nature. It
may not be a surprise to learn that exposure to risk arises
everywhere to one extent or another.
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