ESTABLISHING RISK MANAGEMENT FACTORS FOR CONSTRUCTION PROJECTS IN IRAQ

The construction industry is widely associated with ahigh risk and uncertainty due to the nature of its operating environment. Thisstudy aims to identify and evaluate key risk factors and their frequency andseverity and then their impact in different types of construction projects inIraq. A questionnaire survey was conducted and a total of sixty five criticalfactors were identified and categorized into eight groups. These are: 1.Financial related risk, 2. Legal related risk, 3. Management risk, 4. Marketrelated risk, 5. Political and security related risk, 6. Technical relatedrisk, 7. Environmental related risk, and 8. Social related risk. Seventy fiverespondents participated in the survey representing 22 clients, 21 consultantsand 32 contractors. The results are presented on the basis of their frequency,severity and importance.