Risk identification and common risks in construction: Literature review and content analysis

This paper examines common risk identification tools and techniques, risk classification methods, and common risks for construction projects. A systematic review and detailed content analysis of 130 selected articles from well-regarded and relevant academic journals published over the last three decades was conducted. The findings of the content analysis showed that the majority of the selected articles identified risks for construction projects - mainly infrastructure projects - in Asia and Europe, and in most cases the identified risks were either classified based on their nature or listed without any categorization. For identifying risks, combinations of different information-gathering techniques were predominantly used in the selected articles, whereas diagramming and analysis-based techniques were seldom used. The most frequently identified risks were unpredicted change of inflation rate; design errors and poor engineering; and changes in government laws, regulations, and policies affecting the project. This paper addresses the lack of a systematic review and content analysis of published articles related to risk identification, and it provides researchers and industry practitioners with data on the most common risks affecting construction projects.