Critical Risk Factors of Construction Industry of Pakistan for Improving Project Outcome

Abstract

The aim of this paper is to identify various risk factors faced by construction industry during execution phase of the project. Relevant published literature was studied for the identification of the risk factors and professionals from the local construction industry of Pakistan were asked to rank these risk factors as per their impact on the local projects. Qualitative risk analysis was conducted using the RII (Relative Importance Index) scores and risk scores were calculated. To improve the quality of construction key risk factors highly influencing the local construction industry of Pakistan were identified. Amongst these factors, Construction delays due to unforeseen impediments, payment delays from Client and unreasonable and inflexible decisions were the crest causes highly influencing the project outcome. The top ten risks faced at projects in Pakistan were listed, discussed and conclusions were drawn.