Abstract: “This independent study has been conducted to analyse and establish whether any relationship exists between effective risk management practices and project success in the construction industry of Pakistan. The industry under question is marred with inefficiencies both in the public as well as private sector, and success rate of projects are very low. The study aims to investigate, through the use of questionnaires, whether a relationship between effective risk management and improved project success exists., and whether the organisations that undertake risk management processes are able to achieve a better project success rate and, in the process, establish a link between the two. Literature suggests that an effective risk management system comprises of a four-step process which includes risk identification, risk assessment, risk response and overall control of risk. Further study of the literature suggests that the first three elements help enforce and reaffirm the fourth element. Henc”

Keywords: Risk Management; Project Management; Project Success; Construction Industry