PROJECT RISK MANAGEMENT: CASE STUDY APPROACH

Abstract

Construction sector in Albania has experienced several oscillations in terms of profitability. Except external factors what has caused industry downturn are serious problems with it performance in terms of cost, time and quality. In this thesis it is strongly suggested that major reason behind cost time and quality failure in construction and real estate sector is organization inability to properly manage construction project risk. Thesis main objective is to discover which the most important gaps that a specific construction company experiences when managing risk. From literature was evidenced the most scientific method of vi risk managing, a step by step approach which will be used during analysis as the most efficient method of riski identifying, evaluating, responding and monitoring. Methodology used in order to achieve this aim will be singular case study approach. One of the most important construction businesses operating in Albania is submitted in depth exploration in order to fully understand which are greatest obstacles and challenges in project risk management in construction industry. In concluding the analysis all barriers in achieving performance objective will be identified by creating proper framework which can be used by construction and real estate management organizations to integrate proper risk management processes and instruments in project management.