The impact of project type on risk timing and frequency

A great amount of research has focused on improving project risk management processes. However, because of the uncertainty and variableness within building projects, past research has not been able to identify the frequency and timing of risk effects clearly during projects. Further project risk mapping is necessary to understand the characteristics of when risks occur. Understanding risk encounters on different project types can improve predictability of when risks occur during project schedules. This research captures risk management data from 229 design-bid-build building projects over a seven-year period. The projects encountered 1229 risks during the construction phase that had the potential to delay the schedule or increase the cost of the project. An analysis of the risks encountered was able to identify the quantity of risks identified accordingly to the originally planned schedule. The analysis provides a histogram that improves the ability to identify the timing and frequency of project risks during building projects. A discussion on the observations found in the research is presented. The objective of this paper is to determine if the project type has influence on the frequency and timing of the risks.