A dynamic model of construction project risk measurement based on the process

This paper proposed a dynamic model for risk measurement of construction project based on the relationship of risk factors. First, it analyzed the content and the process of risk measurement. Second, it developed the chart of risk measurement involving life cycle. Because of the relationships in parallel or series among risk factors, the risk measurement for different stages in the life cycle is different and interrelated. This paper proposed the dynamic model of risk measurement after analyzing the process of risk evolving and setting-up process of construction project based on the analysis of the relationships among risk factors. Through analyzing the process of construction project itself and its risk factors using this model, this paper aims to make risk measurement better serving the whole risk management.