| Article ID: | iaor1995112 |
| Country: | United Kingdom |
| Volume: | 12 |
| Issue: | 2 |
| Start Page Number: | 68 |
| End Page Number: | 74 |
| Publication Date: | May 1994 |
| Journal: | International Journal of Project Management |
| Authors: | Ren H. |
| Keywords: | project management |
The paper presents a new method of assessing the financial risk in construction projects. In this method, two elements are distinguished: the risk lifecycle and risk relationships between separate project risks. The risk lifecycle consists of two successive distinct periods: concealment and action. Through the risk relationships, the mutual effects and interactions between risks are analysed. An example is used to illustrate the advantages of using the risk lifecycle and risk relationships.