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Impact of risk management on performance of construction projects:
(UMT Lahore, 2023) Ahmad Ali Shokat
Delivering high-quality work on time and within budget is the primary goal of risk management in the construction sector. Though, the failure of many construction projects in meeting deadlines, cost overrun, and quality targets are frequently on the rise and these are the signs of financial losses for construction projects in Pakistan every year. Yet, risk management practices in the construction sector are not well known in developing nations like Pakistan. This study focuses on risk management in the construction industry to find out the opinions on the construction project performance. A questionnaire-based method of data collection was used to obtain information for quantitative research from 180 respondents. The statistical findings are examined using SPSS tool. The research's conclusions show how risk management affects the effectiveness of construction projects, as well as how project quality plays a mediating role and the viability of the derived hypothesis. The research findings demonstrate the consequence of risk management approaches and their impact on construction project performance from the consultant and contractor's perspective. Therefore, it is crucial that anyone involved in Pakistani building are aware about the advantages of good risk management