Construction Cost Estimating


Risk in Construction

There are various risk factors in building the house. It causes some level of threat to life, property and health. It may affect the success of the project.

It can generate the emergency situation. Most hazards are possible or latent but when they become active or effective, they can generate crisis situations. A dangerous situation that becomes effective can cause an incident, an accident or a disaster.

Some says, Risk is the state of affairs, where there exists no knowledge of its outcome. The variation in possible outcomes that exist in nature in a given situation. It engages a high probability of malfunction.

It is lack of inevitability about structure, result, or consequences in decision or planning situations. The chance of something happening that will have a crash on objectives.

Although the risk idea has been separate in many ways, it is characterize by two main factors: the likelihood of a particular peril actually taking place and the crash or penalty of that.

The risk's focal point is only on the possibility of occurrence of an event that maybe have an outcome on the achievement of a given process, more complete definitions consider both the probability of the incidence and its consequences.

Risk in construction