Construction Risk Management in Portugal—Identification of the Tools/Techniques and Specific Risks in the Design and Construction Phases

The environment of construction projects (CP) is especially important, as well as the context in which they started, developed, and completed. Its effects should be closely monitored, controlled whenever possible, and considered as a high-risk source. Despite the high impact of risks during the construction project life cycle, very few researches and papers do analyse them. So, the main purpose of this paper is to investigate the most relevant tools or techniques for risk management and identify the specific risks for designers and contractors that affect the phases of concept and execution of CP. So, a questionnaire was designed and administered to construction professionals (contractors and designers). The results show that the process of planning risk responses is the one evidencing less knowledge of the tools used by the construction professionals. Regarding designer specific risks in the project phase, the “problems of coordinating the various specialities” or “customer lacking the necessary experience or resources to support the project” have a high impact; in the construction phase, the “continuous change in the scope” of the project is the most impacting risk. For contractor specific risks, in the budgeting phase, “work’s quality and value are insufficient for the cost” or “substandard budgeting documents” have a high impact; in the construction phase, the “low-skilled workforce” followed by “work’s quality and value are insufficient for the cost” are the most impacting risks. Based on the results obtained, the findings of the research contribute to an understanding of the major tools and techniques used by designers and contractors for risk management and for the identification of the specific risks arising from life cycle phases that can affect a construction project in Portugal.