Chapter 11 Risk Management: A Measure of Project Success

This chapter explains the concept of risk management in construction in relation to project success. The types of risks were examined based on the date of identification which are known risk, unknown risk, new or discovered risk, secondary risk and residual risk. Project risk is not an all-encompassing negative event as it could also cause a positive impact on construction projects. It was acknowledged that project risk in itself could have a positive impact if its risk management process is properly implemented by the construction project team.