Abstract
The construction industry is well known as a highly risk prone industry owing to the complexity of its
activities and dynamic project environments generating an atmosphere of risks that must be taken into consideration
in the decision process. For this reason, we have developed this treatise to elucidate the fundamentals of risk
management through a concise new proposal of literature review for risk management in construction. Our
explanation of this is venture is that over the years, this area has been acknowledged as a crucial process in the
business institutions and the most discussed subject among experts and researchers in the construction sector. We
have tried in this report to present the most recent studies considering the impossibility to present all definitions of the
concept of risk. This study is mainly a literature review; it looks at the literature relating to the concept of risk, risk
management in construction as well as methods used in construction industry.