Risk Allocation

The PROBLEM The risk could be a crisis when not determined which party is the most appropriate and capable to deal with the project risk. Many construction companies do not have the perception and the willing to deal with the risk. The OBJECTIVE Allocating risks in alignment with project objectives begins with a clear understanding of the project objectives by the owner and a clear communication of these objectives to the contracting, consulting, or design community. A fundamental tenet of risk management is to allocate the risks to the party best able to manage them. The aim of this study is to identify construction risks allocation among construction project parties. The outcome of this study is developing a mathematical program to help in allocating risks on different project parties. • In addition. The main goal of this part of work is to develop a computer program to help project parties for risk allocation with different types of contracts. METHODOLGY The methodology of this research is using a questionnaire will be distributed to many construction companies to measure the trend and the perception of every part to take the responsibility and manage the risk and compare these results with previous questionnaires. SIMPLE MAtlab or LAbview Program for Risk Allocation