Identifying the key areas of risk Management in aviation projects.
Introduction (150 – 200 words):
Mega infrastructure projects, characterized by their large scale, high capital investment, and
extended timelines, play a crucial role in driving economic development and improving
societal well-being. However, their complexity and interdependence often expose them to a
wide range of risks, including financial, technical, operational, environmental, and regulatory
uncertainties. Effective risk management in such projects is not merely a reactive process but
a proactive approach to identify, assess, mitigate, and monitor potential risks throughout the
project lifecycle. Given the intricate nature of these projects, poor risk management can lead
to cost overruns, schedule delays, quality issues, and, in extreme cases, project failure. As
infrastructure projects become increasingly global and multidimensional, the need for robust
risk management practices has never been more critical. This research aims to explore the
significance of risk management in mega infrastructure projects, to assess existing
frameworks, detect gaps in current practices of project development, highlight key areas of
concerns, and to subsequently propose strategies to optimize risk mitigation, ensuring project
success while minimizing adverse impacts.
