Abstract:
Risk management often becomes a significant concern among the construction
professionals especially due to the complex nature of the industry. Though it is a popular
subject in project management discipline, it was observed that authentic application of
the principles of risk management at times is arguable in practice. As a Project Manager
who is a key role player in a project, it is vital to have a solid knowledge on risk
management and its related arena. Evidence was found of limited risk management
knowledge among construction professionals. Therefore, a study was conducted to find
the status of risk management knowledge among the construction Project Managers in
Sri Lanka. A mixed method approach was followed by a comprehensive literature review
on elements of body of knowledge of risk management and later a questionnaire survey
to contextualise the status of the knowledge gap of Project Managers in real. According
to the findings of the study, it could be concluded that Sri Lankan Project Managers are
not fully confident on their risk management knowledge. It was primarily likely to be due
to the limited learning in the subject area when pursuing higher studies. The study also
identifies the options to device appropriate strategies to improve risk management
knowledge among the Construction Project Managers in Sri Lanka.
