The construction sector is coming under increasing pressure from clients demanding improved project performance as well as eliminating waste and errors from projects. The construction sector, therefore needs to acquire a greater understanding of practical project risk management. The increasing complexity of collaborative procurement methods and project financing, as well as existing problems in managing inherently risky projects to specification, on time and within budget, requires construction professionals to have a clear understanding not only of risk but also the wider implications of appraisal and uncertainty management. This book covers the basic terminology and the underpinning theory of risk management, the Institution of Civil Engineers and Faculty of Actuaries RAMP methodology, corporate risk, the Turnbull report and uncertainty management. Intended as a guide, it also includes bibliographies for further reading.