Imperatives of Application of Lean Principles in Risk Reduction in Construction: A Review

The notion of risk management is not as widely used in the construction business. The construction industry's systematic approach to risk management is divided into three key phases. Risk response, risk analysis, appraisal and risk recognition. Everybody involved in the construction sector is impacted by the high risk associated with the company, and industry practitioners still face significant challenges in operational analysis and risk management connected to construction. The focus of this work is to evaluate the body of research on risk management procedures for building projects in developing nations. There aren't many risk management process approaches in the literature that can capture how risks affect different project goals. The goal of this literature study is to identify the methods that are often used in risk analysis and identification. Along with attempting to suggest future research paths on project risks in the field of construction in developing nations, it also looks for responses to clarifications of the various risk source classifications in the literature now in publication.