Case Scenario Analysis:

Managing risks in construction projects has been recognized as a very important management process in order to achieve the project objectives in terms of time, cost, quality, safety and environmental sustainability. A study aims to identify and analyze the risks associated with the development of construction projects from project stakeholder and life cycle perspectives. The study identified following risk factors.

1.Tight project schedule

2.High performance/quality expectations

3.Low management competency of subcontractors

4.Incomplete or inaccurate cost estimate

5.Lack of coordination between project team members

6.Unavailability of sufficient professionals and managers

7.Serious air pollution and noise caused by construction activities

Develop understanding on how and on what level three factors of your choice can generate risk in achieving project objectives. Finally, identify a set of measures that you as a project manager would like to plan and implement to reduce risk and ensure achievement of project objectives and contribute in business development. (18 points)

Hint: Your answer should include the way the factor develop risk in the achievement of project objectives and its level. Finally, you need to develop measures or actions you would like to implement to manage and/or minimize the risk.