Risk management in the construction industry: Analysis of the industry practices and Norwegian case.

Abstract

In this thesis, an attempt was made to find out how the current approach to risk management works in the construction industry in Norway by looking into the expertise of one specific company – including whether it may be considered risk-based according to risk science criteria and how the problem of risks is linked with construction and safety. It is crucial to reflect on the importance of the relationship between risk, governance, safety, and business interest in the context of construction activities. The aim of the study will be to find out how well the construction industry manages risks on the example of the Norwegian experience and which theoretical practicalities can be used to improve. Therefore, the problem reads as follows: How well does the construction industry work with current regulations regarding risks and best risk management practices, and how important is risk negotiation in business relationships?