Peter J. Edwards (MSc, PhD) is an Associate Professor at RMIT University in Melbourne, Australia. Originally trained as a quantity surveyor, he has an extensive background in the construction industry, professionally and academically and has authored over 90 academic publications. His research and consultancy interests include project risk management and value management, building procurement and sustainable construction., Paul A. Bowen (BSc (QS), BCom, MSc (Construction Management), PhD) is Professor and Head of the Department of Construction Economics and Management at the University of Cape Town in South Africa. He is a Visiting Professor to RMIT University, a nationally rated researcher and a member of the Academy of Science of South Africa. His professional and academic experience relating to the construction industry has resulted in more than 130 publications. His research interests include project procurement, communication, and the sustainability assessment of buildings.

• *Introduction*What is risk?*Looking at projects*Project organisation*Decision-making, risk perception and risk communication*Systematic risk management*Risk analysis*Risk decisions and actions*Building a risk management system*Opportunity management

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