Every project owner wants a successful construction project—one that finishes on time, on budget, without defects in design or construction and with minimum conflict among the project parties. To minimize problems and maximize the chances of success, owners must effectively manage four construction risks. The owner who fails to do so is more likely to have the trouble, delays, problems and headaches for which construction projects are renowned.
Risk #1: Cost Overruns
Cost overruns on construction projects seem to be the rule, not the exception.
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