Concern with risk management became more evident after Ibbs and Kwak (2000) published their research, which recognized this knowledge area as one of the neediest in terms of management, as examined in three of the four economic sectors studied. However,Akintoye and MacLeod (1997) had already pointed to the effectiveness of risk management as one of the major concerns of project professionals. Nevertheless, for Raz et al. (2002) the discipline of risk
manage ment is still in its infancy.