Importance of Risk Management in UK Construction Projects

This literature review examines the critical role of risk management at the pre-construction stage of large-scale projects within the UK construction industry. It identifies various risks, including technical issues, communication problems, and external factors, that can negatively impact project performance. The review highlights the importance of risk management in mitigating these challenges, ensuring projects are completed on time and within budget. It explores different risk management strategies used in the UK construction industry, emphasizing their benefits in identifying hazards, assessing probabilities, and managing communication gaps. The analysis underscores the significance of proactive risk management for project managers, offering insights into how to handle complex situations, improve project outcomes, and ensure the successful completion of large-scale construction endeavors. The review draws on multiple sources and provides a comprehensive overview of current practices and potential improvements within the field.