CONSTRUCTION RISK MANAGEMENT: APPLICATION AND EDUCATION

Abstract

Construction risk management emphasizes the application of risk management in the construction industry, focusing on large scale and innovative projects. The application of risk management in construction projects is still less than its true value. The present study compares the level of the needs of the construction industry and the current level of acquired risk management knowledge and skills. The study demonstrates the response of many industrial foundations in Kuwait that contribute to construction projects, focusing on infrastructure projects. The responses were used to deduce the major elements required to implement construction risk management in the market. Moreover, the current levels of knowledge and skills of those elements were assessed, also based on the collected data. The requirements to narrow the gap between needs and actual education level are discussed. Finally, factor analysis methodology was used to categorize and evaluate the parameters that affect the implementation of risk management in the construction industry in Kuwait. Key words: Construction, risk, education, management, Kuwait