ABSTRACT
The paper describes sources of risk in construction projects in economies in transition. The introductory part analyzes the quantitative and qualitative aspects of changes in transition. Based on a Croatian example the analysis is done through an overview and comparison of main influencing factors that affect construction business in pretransition and transition periods. The middle part of the paper describes possible classifications of risk sources and the main sources of internal and external risks in construction projects, including a report of risk drivers. The most frequent consequences of risks, such as cost and time overruns, are discussed. The end part of the paper analyzes the results of risk source research that has been performed in Croatia since 1994. The differences between main project participants attitudes regarding risk sources and responses are expressed.
