The uncertainties in planning phase of a construction project can be managed by
timely market orientation, communication with the client over the long-term project
requirements and with the planner over the design specifications. The project risks in
the realization phase, often relate to site conditions or availability of material and
equipment, and are managed through research and investigation and good
management (permits and approvals on time, skilful workers, and sound contracts).
The common practice of carrying out risk analysis for such a project is limited to the
planning and realization phases, i.e., identifying and dealing with the top 10 risks.