Factors and Impact of Risk Management Practice on Success of Construction Projects of Various Construction Companies, Kanya Kumari

The complexity in construction plays a major role in the emergence of numerous risks in large projects. To minimize the impacts of risk, a good and effective risk management system must be incorporated into every project. A potential risk management system should include the assessment and measurement of the performance, as this can provide real-time updates about the progress, which in turn can be used to make the risk management system more effective and efficient. This research is conducted to identify significant factors of risk and the impact of Risk Management Practice for success of construction projects of various construction companies in Kanyakumari. This research is based on a scheduled survey to collect the data using sampling of nearly or fully completed projects. Data from respondents by rating on a 5 point Likert scale were analyzed through software tools like MS Excel and SPSS. The extent of agree or disagree of respondents about research variables was assessed by using the Mean Score (MS). The objective of studying the impact was achieved through hypothesis testing using regression between the three independent variables i.e. risk identification, assessment and response. This paper gives a review of Risk management and its impact on Construction from literatures of various authors.