Improving the Project Risk Management Process in Construction Projects by Provide a Suggested Method Based on PMBOK Standard and SHAMPU Model

Construction projects involve many groups with different goals, which each of them is exposed to many risks. In practice, different project stakeholders have different understandings of project risks. Each of which identifies and analyzes project risks without relying on a common methodology. For this reason, in most construction projects, discussing project risks and decision-making based on risk is a common problem that causes differences between project parties. Therefore, risk management in construction projects is a fundamental challenge. This research has been formed to improve the project risk management process with emphasis on construction projects; and use library resources, has investigated and compared the risk sub-processes in the models presented after 1990. By identifying the strengths and weaknesses of different models, a new method of risk management has been proposed. The proposed method consists of a combination of the PMBOK standard and the SHAMPU model and supports sub-processes that have received less attention in models, such as project definition, decision-making based on benefit/cost and Implementation Management. The addition of these sub-processes has been due to the specific nature of construction projects. These sub-processes can assess risks in more detail than existing models, and effectively help the project stakeholders to achieve a common understanding of risks in identifying and analyzing project risks.