Research on behavioral risk of participants in construction project based on the theory of stakeholders

The behavioral risk of participants in construction project means the possibility of loss to the project because of participants' behaviors. Currently risk management has been commonly applied across the construction sector; however it very rarely includes the effects of behavioral factors. But often behavior of participants is major reason for project risks. Meanwhile, a project's success or failure is strongly influenced by how well it meets stakeholders' expectations and their perceptions of its value. The paper analysis how construction practitioners perceive risk management and in particular behavioral risks factors from project stakeholders perspectives. It also identifies and appraises behavioral risks so as to develop more effective risk reduction measures.