IQ Research Journal-Open Access-ISSN:2790-4296

The Effect Of Risk Management On Project Success In Alburuuj Construction Company In Mogadishu-Somali



Authors: Abdiaziz Ahmed Samatar, Atanga Desmond Funwie. Paper Title: The Effect Of Risk Management On Project Success InĀ Alburuuj Construction Company In Mogadishu-Somali

IQ Research Journal of IQ res. j. (2022)1(2): pp 01-023. Vol. 001, Issue 002, 02-2022, pp. 0580-0603

Received: 26 02, 2022; Accepted: 26 02, 2022; Published: 27 02, 2022


Risk management (RM) is a concept which is used in all industries, from IT related business, automobile or pharmaceutical industry, to the construction sector. Each industry has developed their own RM standards, but the general ideas of the concept usually remain the same regardless of the sector. According to the Project Management Institute (PMI, 2004), project risk management is one of the most critical parts of project commissioning. This indicates a strong relationship between managing risks and a project success. While RM is described as the most difficult area within construction management (Winch, 2002; Potts 2008) its application is promoted in all projects in order to avoid negative consequences (Potts, 2008).