ABSTRACT
This study aimed to examine ways in which the implementation of risk management methods is carried out in the private sector. A study was undertaken involving private sector projects using a questionnaire survey among 155 randomly selected respondents in construction in the Gauteng province of South Africa representing a response rate of 34%. SPSS 21 and Microsoft excel were used to analyse data and to present descriptive statistics. Key results of the study indicate that training of the project team was most critical in implementing risk management systems effectively. Collaborative and proactive approaches, decentralised risk management system, regular review of risks, regular updates of risk register, were also found to be fundamental in successful implementation of risk management. The study recommends auditing of risk management policies and strategies, change in the organisational culture and attitude towards risk management.
