A Construction Project Management Tool Is Also Considered Which Can Assist

A construction project management tool is also considered which can assist with these international construction projects.
The next section presents a brief literature review of the published literature for international construction project management risks and their assessment as well as project risk planning or management tools.
2.1 Literature Review
Risks that are required to be handled in the real world projects may include pure risks in which there is no probability of financial gain and speculative risks in which there can be a gain or a loss (Kluenker, 2004, Pp 4-16) and (Marton, 2004, Pp 1-6). Because these risks can interfere with the successful as well as profitable completion and execution of a project, therefore they have to be analysed and identified when considering a possible project. Some risks are inherent in the legal, political as well as the economic conditions which exist in a country, while others are inherent in the operations that are associated with the project being considered (Pruett, 2004, Pp 2-5). Risks may be inherent in the sources of funding and the currency, corporate and personal income taxes of a country, the political stability of a country, its cultural and religious traditions and the legal standing of a company in the country (Pheng, 2004, Pp.2-6) and (Dixon, 2000, Pp 17-52). Construction risks end up having an adverse impact on the financial returns that are associated with a project either directly or indirectly (Zack, 2004, Pp 1-15). Risks are also inherent in the project scope, involving matters such as utilities and infrastructure or the lack of these on a site, site selection and clear title, approvals and licensing, bulk material supply, importing as well as custom risks and the risks associated with subcontracting (Winter, 2004, Pp 1-4). The design has to be constructible and approved as well as preferably being tested. Construction risks include those associated with workforce availability and support, workforce transportation, safety during construction, payments, project scheduling as well as in other areas such as communications, quality and reliability of utilities (Picard, 2004, Pp.3-7). There may be problems associated with government regulations, environmental compliance, expatriate work permits, facilities management and maintenance as well as infrastructure support. These International Project Risk Assessments or IPRA have to be identified and assigned probability values for their occurrence based on the previous experience of them having influenced a project. IPRA lists and databases have already been constructed (Gibson, 2004, Pp. 3-14). These IPRA lists are considered at the time of program consideration, validation as well as detailed design and compared with baseline values based on their likelihood of impacting a project (Kuprenas, 2004, Pp 3-8).