Risk assessment and allocation in the UAE construction industry

This study identifies and assesses the significant risks in the UAE construction industry and addresses their proper allocation. Data were collected through a questionnaire distributed to construction experts. The study reveals that economic risks such as inflation and sudden changes in prices, shor...

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Bibliographic Details
Published in:International journal of project management 2008-05, Vol.26 (4), p.431-438
Main Author: El-Sayegh, Sameh Monir
Format: Article
Language:English
Subjects:
Allocations
Construction industry
International construction
Risk assessment
Risk management
Studies
UAE construction industry
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Summary:This study identifies and assesses the significant risks in the UAE construction industry and addresses their proper allocation. Data were collected through a questionnaire distributed to construction experts. The study reveals that economic risks such as inflation and sudden changes in prices, shortage in material and labor supply are significant. Other significant risks include owner risks such as unrealistic construction schedule, improper intervention and changes in design. Political, social and cultural risks are found to be insignificant. Local and international experts are in agreement as to the ranking of construction risks in the UAE. More risks are allocated to contractors or shared between contractors and owners with only two risks allocated directly to the owners.
ISSN:0263-7863
1873-4634
DOI:10.1016/j.ijproman.2007.07.004