Assessment of Risk Management on Construction Project in Abuja, Nigeria.

Abstract

The requirements of every construction project is meeting client’s need of cost, and quality which are achieved through consciousness of uncertainty and taking pro-active measures. The construction industry is overwhelmed with risks which must be mitigated as it leads to cost overruns that have negative impact on the efficiency of project that would also lead to displeasure of client. The research assessed risk management on construction project in Abuja, Nigeria. The study adopted a quantitative research approach using questionnaires to source relevant information from respondents. Data collection was done through a questionnaire survey self-administered on 60 randomly selected construction industry participants. Out of the 60 questionnaires administered, 52responses fit for analysis were received representing 87%. Data were analysed with the use of descriptive statistics such as mean item score and correlation analysis. The study revealed nine factor of effective risk management among which organization structuring and design has highest impact with MIS 4.60. Also, from the ten poor risk management factor, lack of team work had the highest impact with MIS 4.58. Likewise, from sixteen barriers of risk management, ineffective monitoring had the highest impact with MIS 4.43. The study concluded that lack of team work and ineffective monitoring were the major hindrances of risk management, while organization structuring and design were the most effective risk management factors in construction projects. It was recommended that in achieving effective project delivery, it required the best knowledge that will effectively manage project risks include material, cost, quality management and consciousness of project period which attract harmonious development in Abuja, Nigeria.