The Role of Flexibility in The Construction Risk Management Prescriptiveness

Abstract

Risk management in the construction industry is regarded as an important issue for the healthy development of society. In terms of the risk management process, over detailed process would be remarkably time consuming which also can be a burden of the project. the balance between the prescriptiveness and the flexibility of risk process can be considered as the vital factor for a effective risk management framework. However, flexibility is not well valued in the risk management process of many construction projects. An ideal risk management process should include both the clear prescriptiveness and the flexibility in order to minimize the negative influence of risks in construction project as well as to shorten period of process planning.