Abstract:

Currently, risk management is gaining momentum, and various companies have started establishing a risk management procedure in their projects for improving the performance, and to increase the profits. But, the implementation of project risk management practices vary in different regions due to limitations in resources and capabilities accompanied with lack of technical skills. This research is an exploratory study pertaining to how companies in United Arab Emirates deal with project risk. The aim is to understand the impact of core elements in a typical risk register namely, risk planning, risk analysis and risk mitigation on projects. Furthermore, the study finds the relation between the elements of the risk register with three key project characteristics. The study provides an insight about Emirati companies risk management practices and affirms the frequency of use of risk management practices and tools for successful project completion.