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Risk Assessments for Construction projects in Saudi Arabia

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Author Affiliations

  • 1School of Built and Natural Environment, University of Wales Trinity Saint David, Swansea, United Kingdom, UNITED
  • 2 Glasgow Caledonian University, Department of Management, London, United Kingdom, KINGDOM

Res. J. Management Sci., Volume 3, Issue (7), Pages 1-6, July,6 (2014)

Abstract

The construction market of Kingdom of Saudi Arabia (KSA) is significantly huge in the Middle East, which currently estimates to be >$122 Billion per year (in recent times) and this is anticipated to reach >$610 Billion in next five years. Construction projects in the residential sector are more positive than commercial sector, however, data on the actual percentage of success rate and vital risk factors in aforementioned projects are still limited. Accordingly, this study estimates the risk evaluation of recent construction projects in the KSA and presents a new risk evaluation method for current construction projects: this analysis constructed on new linear decision-making model. At the same time as, this study also investigates the applied applications of risk management in the trade of construction projects of bothinternational andnational companies.

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