Risk management of construction projects based on sandpile model: A frame of risk conduction

With the rapid development of Chinese economy and society, more and more construction projects will be carried out, so how to manage risks becomes a matter of concern in construction projects. The starting point for the effective implementation of risk management is to identify sources of risk and risk conduction pathway. This paper first classifies risks of construction projects into categories from stakeholders´ perspective, such as: endogenous risks and exogenous risks. Based on risk conduction theory and sandpile model, a framework of construction key risk conduction is established in this paper. Its application to risk management was also briefly illustrated. Finally, we propose a process to deal with varied risks. Studying the risks conduction will be helpful to understanding and managing risks in construction projects.