Sources of Risk and Related Effects in the Malaysian Construction Industry

Construction projects nowadays have higher complexities, calling for increased awareness, assessment and management of the risks involved. Key construction risks need to be first identified, then assessed and methods on risk mitigation need to be mapped out to better managed the potential of undesirable events within projects. This study aims to compile Malaysian construction related risks and their relevant impacts on the construction project risk and its effects to the construction projects. It serves as a compilation database for Malaysian construction project, which will be used as future risk data. Data was collected by conducting structured questionnaire surveys and distributing it to professionals involved in the construction industry. Discussion herewith will emphasize on the findings related to project risks detected based on the sources of risk. The risks will be group under specific groups of risk and linked with the effects the said risks produced. This project correlates the sources and effects of construction risks in Malaysia. It is hopeful that through this research, a proper knowledge or risk retention centre can ultimately be created to aid future effective qualitative and quantitative risk analysis for all construction projects.