Enhancing Project Risk Management in Construction: Integrated Approach and Practical Recommendations

Abstract

The growing complexity of construction projects creates increasing demands for advanced risk management systems in construction companies. This study examines the current state of project risk management in a large construction company operating in Kazakhstan and international markets, and develops a comprehensive set of organizational, methodological, digital, and cultural recommendations for enhancing its maturity level. Using a mixed-method approach combining literature review, internal document analysis, expert interviews, employee surveys, and case studies, the research identifies key deficiencies and opportunities for improvement. The proposed solutions target formalization of responsibilities, integration of quantitative risk analysis, digitalization of risk registers, and development of risk-oriented corporate culture.