Identifying the latest risk probabilities affecting construction projects in Egypt according to political and economic variables. From January 2011 to January 2013

AbstractThe aim of this paper is to identify the latest top major risk probabilities in construction projects in Egypt according to political and economic variables between the time period Jan 2011 and Jan 2013. Risks were prioritized according to their significance of influences and their sources, whether internal or external. The paper describes, on the basis of a questionnaire survey of project management practices, the construction risks, which are generally perceived as events that influence project objectives of cost, time and quality. A statistical analysis was carried out in order to identify the top major construction project risks. It is concluded that however risk factors vary considerably across industry and countries, the study of risk management for construction projects will provide a reference for other projects that might be executed in similar circumstances. The paper ends up with suggesting the risk response strategies appropriate for each type of identified risk. The research findings will contribute to both practice and research in risk management for the Egyptian construction industry and will also provide valuable information for international companies which intend to provide construction projects in Egypt