A STUDY FOR SIGNIFICANT RISKS AND THEIR EFFECTS ON CONSTRUCTION PROJECTS IN ERBIL CITY

Abstract

To accomplish a construction project successfully, it is important to manage the risk in terms of cost, time, and quality. Risks always exist in construction projects and often cause schedule delay or cost overrun. Risk management is a process which consists of identification of risks, assessment with qualitatively and quantitatively, response with a suitable method for handling and control risks. The aim of this paper is to identify top major of 50 risks by contractors, owners and engineers. Questionnaire surveys were used to collect data, based on a comprehensive assessment of the likelihood of occurrence and their impacts on the project objectives. Also the impact of risks on cost, time, and quality, on construction project were analyzed. Questionnaire distributed to stakeholders who are working in construction sector in Erbil City during 2014-2015, then analyzed statistically. The results of the questionnaire indicate that the most significant risks are: inability of owner to finance the project, awarding the design to unqualified designers, poor qualifications, skills & experience of contractor and technical staff, design errors or defective design, poor qualifications and supervision of owner’s engineer, and long wait for approval of tests and inspection.