Understanding the influence of individual and group risk attitude on risk decisions in marine construction projects

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Abstract

The construction industry is subjet to a wide range of uncertainties and risks. Although detailed risk management processes have been created, many projects still fail one or more of the initial objectives. This research looks into the influence of risk attitude on the risk amnagement process and provides practitioners with both a tool to observe risk attitude as well as an outline that can be used to monitor it. This aims to help decision-making and the achievement of project goals by limiting the negative inflence of te human factor.