engleski

Critical Risk Factors of Public Construction Projects

Public construction projects are usually complex projects that are demanding from professional point of view but also because their execution are influenced by many interest groups and finally judged by political and wider public interest groups. The main objective of the research, presented in this paper, is identifying of critical risk factors in public construction projects. The survey was conducted on the projects from the Program of subsidized housing construction in Croatia. In this research a project was rated as successful if it got the occupancy license (quality!) and one of the following conditions are fulfilled: (1) costs are lower or the same as the planned estimate, (2) time of realization is shorter or in stipulated time. Only 40% of respondents answered that their project was successful. The research shows that critical risk factors of public construction project are: slowness of local and state structures, lack of skilled professional personnel, flaws in project documentation and additional user demands, low communication integration level and poor coordination of all participants as well as level of utility equipment and land availability. One of ten most critical risk factors is also inefficient or non-existent risk management system. The research results have been basis for building a model for risk management.

construction projects ; critical risk factors ; risk management

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