Encountered risks and risk management in construction projects

Rapidly changing, evolving and with each passing day in our globalized world, technological, economic, and political changes, with each passing day due to increasing uncertainties and risks will play an active role in decision-making of firms. Looking at the risks inherent in construction work, risk identification, analysis and management techniques used for responding, it is surprising that this industry has been used in recent years. Many people, will come to a consensus that the risk of the business world play key roles in decision-making. Risk of loss, than reinforce the expectation of return. Although there are many ideas as to what constitutes the risk is, there is no consensus on this issue. This topic is on the agenda and talked about a lot is the case despite the disembodied. Risk can reveal itself in many forms over time and changing processes. Risks, in particular, happens due to lack of information and as a result uncertainty arises [1]. Construction activities, and in every moment of every part of the risk and of the results of the source, whether investment decisions given by the employer, whether it is applied by architects and engineers design decisions, whether or not recommended by investment and finance professionals to get economic decisions, decisions include numerous performance targets. These targets are usually, time, money or the demand for limited resources such as technological capabilities, creating a conflict with each other. How the decision was reached to a conclusion, or the use of the approach chosen for the verification of the action shall be kept in mind is very rare [2]. Companies and professionals in the construction industry, the size of the realized projects, the complexity of the techniques used in the projects carried out depending on the environment and face a variety of risks in each project. Firms in the same risk for the condition encountered in different projects exhibit different risk attitudes. Risk of any decision, the decision significantly affected the attitude of the person or organization. The purpose of this study, analyzes of risk and risk management encountered in construction projects and create a survey through this questionnaire to the project risk management system which works construction companies in Turkey and abroad, what kind of applying the risks and the risks encountered to learn how to measure and provide new precautions. Survey is applied and acted with companies which has 20 year and more market experience. Thesis work consists of five chapters. In the first chapter of the thesis the objectives and parts of the entries explained Summarizes the sources of risk, and risks that may occur on construction sites. In the second chapter in order to show the difference between the risk and the uncertainty, it is tried to describe how to convert uncertainty to risk .Specifying the purpose and importance of risk management, provides information on the development of a risk management structure. At the end of the section describing the process of risk management as a result of risks and risk response are investigated. The thirth chapter discusses the risks of construction projects. General description of construction projects, respectively, properties of construction projects and construction projects involved in the process and participants will be explained. In addition, the distribution of risk between the parties and resources is described. In the fourth chapter of certain economic, financial, technical and hardware accumulation and international construction projects with companies operating in a healthier and more universal approach, based on the survey data can be created. Survey was performed in consultation with about 30 firms. In the fifth chapter, survey is evaluated, the results of surveys and recommendations of risk applied in construction projects are presented. Keywords: Risk, risk management, risk processes, construction and risk, sources of risk, result of risk, uncertainty, construction projects, risk aversion.