Construction industry is one of the most common and typical industries in
Palestine as in all over the world, The construction industry is widely associated with
a high degree of risk and uncertainty due to the nature of its operating and the
surrounding environment, if these risk factors are not considered or ignored, they will
cause losses in fund, time, and human efforts, so there is a need to avoid or manage
risks.
This study is divided into two parts; the first one covers the following main aspects:
1- Risk definition, classification of risk, and the concept of risk management.
2- Risk management in project life cycle.
3- Risk management process and practice.
4- The current situation of the construction industry in the West Bank.
5- Preparing Preliminary Content of Research Questionnaire which will be
applied on a representative sample of contractors in order to collect the needed
data about financial risk management which will be the starting point to the
second part of the study.
The second part of the study will cover the following main aspects:
1- Holding interviews with contractors.
2- Implementation of the questionnaire.
3- Analysis of the questionnaire.
4- Conclusions and recommendations.
As detailed above, work methodology is distributed between the theoretical study,
field survey and scientific analysis
The main objective of this research is to develop guidelines to cover how to manage
financial risk in building projects. These guidelines will be developed in order to help
contractors.