Risk Management In Large Scale Projects: Analysing Strategies for Mitigating Risks In Complex Projects of Infrastructure Development

Abstract

The large-scale infrastructure development industry is the main driver of the economic growth and ensures economic factors such as connectivity and quality of life stay at the high level in the societies worldwide. This sector consists of not only the designing, building, operating, and managing of these all-important physical or spatial entities and facilities but also the key structures and physical infrastructures of modern societies. Similar to transportation networks and energy systems that are essential for economic activity and trade, as well as the water supply and sanitation facilities that support community services, these large-scale infrastructure projects are the backbone of development and are essential for the provision of good services and improved standards of living.