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|Title||Risk Management in Construction Projects from Contractors and Owners' Perspectives|
Construction is a risky industry and there is no other industry that requires proper application of business practices much as construction industry. The main objective of this research is to gain understanding of 44 risk factors that could be in front of building projects in Gaza Strip. The study aims also to investigate the effectiveness of risk preventive and mitigative methods. Moreover, the usage of risk analysis techniques is addressed. The objectives of this research have been achieved through a comparative study of closed-ended questionnaires with interviews and a case study in Gaza Strip. The results of analyzing the 40 questionnaires that were directed to contractor respondents concluded that the most important risk factors are: financial failure of the contractor, working at hot (dangerous) areas, closure, defective design and delayed payments on contract. On the other hand, owner respondents concluded that the most important risk factors are: awarding the design to unqualified designer, defective design, occurrence of accidents, difficulty to access the site, and inaccurate quantities. The results show that there are many risk factors contractors and owners could not allocate them on the party that should bear these factors’ consequences. The study findings show that the contractors and the owners suffer from lack of innovative methods to prevent or mitigate risks. Contractors and owners – according to results – do not utilize risk analysis techniques but depend widely on direct judgment in estimating time and cost. The results of this study recommended that there is an essential need for more standardization and effective forms of contract, which address issues of clarity, fairness, roles and responsibilities, allocation of risks, dispute resolution and payment. Both owners and contractors are called for identification of possible risk factors that could be faced and to allocate them contractually. There is a need to keep a computerized historical data of finished projects to help in rights reservation and to be an information source for future comparison. A standard form of contracts which address issues of clarity, fairness, roles and responsibilities, allocation of risks, dispute resolution and payment should be adopted for all the projects in Gaza Strip instead of the consequential disorder that was a result of applying different types of contracts. More effort should be made to properly apply risk management in the construction industry.
|Publisher||the islamic university|
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