For AEC industry in the middle east & based on cultural background of eastern manners, traditions & attitude. what are the essential rules of conduct for systematic approach to manage risks?

I think the question should be re-phrased. However, holistic guidelines and strict implementation in the AEC industry in MENA and concerned organizations, are essential.

Risk in any industry is unavoidable but manageable and can be mitigated. Risk management necessary involves identification of risk, measurement and then mitigation and continuous monitoring. in an engineering and construction industry, time management (timely execution) and planning are crucial elements. Apart from these, quality of services delivered is another important deliverable. Some techniques can be used to measure risk viz., Delphi techniques, brainstorming etc can be employed to quantify risk. Adequate and timely response to risk in this industry can help achieve risk mitigation.