Identification of Risk Management System in the Construction Sector

Category: Academics

Risk management is a new topic in Pakistan’s construction sector, but it’s gaining popularity due to increased activity and competition. This article highlights risk management in Pakistan’s construction industry. The most significant risks are financial and economic considerations, followed by quality, and the sector strives to prevent or transfer them. However, most companies’ risk management systems and practices are reactive, semi-permanent, informal, and unstructured, with few resources to cope with threats.