This document discusses the importance of risk management in construction projects in India. It begins by providing background on the large growth in infrastructure and construction projects in India. With the increasing size and finances of projects, risk management has become more important. The document then defines risk management and describes common quantitative and qualitative risk management approaches. It explains that risks can cause delays, cost overruns, and quality issues on projects. Finally, it states that while risk management is still a new concept in India's construction sector, it should be systematically implemented from the planning stage to help complete projects on time and on budget.