The primary aim of this research study is to investigate, asses, identify and analyses various risk categories that are inherent in building and construction projects in three selected Local Governments - Ese-Odo and IIaje (riversides) and Okitipupa Local Governments in Ondo State. A comprehensive review and assessment of previous studies was used to draft a questionnaire for risk data collection. Out of the 16 contractors presently executing building projects in the three Local Governments and some selected Local Government staffs who were contacted as participants, only 12 contractors and some selected Local Government staffs agreed to participate in the stdy while 4 contractors declined to participate. Indeed, Seventy-seven (77) risk variables were identified under ten (10) risk factors in each questionnaire. However, seventy-two (72) questionnaires were randomly distributed to seventy-two (72) participants who constituted final sample for the study as respondents for their responses. These participants were grouped into 27 management employees which include: Director of Works (3), Civil Engineers (6), Director of Finance and Supplies (3), Project Managers (6) and Directors of Legal and Environmental (9) and 45 non-management employees which include: Contractors (12), Design team (Architects/Civil Engineers) (6), Consultants (Architects) (3), Construction team (Foremen) (12) and Sub-contractors (Transport owners) (12). The procedure of filling the questionnaire involves the selection of a set of attitude statements, to which respondents are asked to indicate their agreement or disagreement to each statement along a five-point Likert scale ranging from: “not-important (1), important (2), average (3), very important (4) to highly important (5)”. Respondents’ scores were tabulated by assigning a numerical value to each of the answers ranging from ‘1’ for the alternative at one end of scale to ‘5’for the alternative at the other. Accordingly, responses were analyzed using Microsoft Excel and Descriptive Statistics involving: Mean, standard deviations, variance, range (maximum and minimum) and respondents to determine the influence of all the identified risk variables in building and construction projects in the three selected Local Governments.
Table of Contents
CHAPTER ONE INTRODUCTION
1.1 Background
1.2 Statement of the Problem
1.3 Aim and Objectives of the Research Study
1.4 Justification for the Study
1.5 Limitation of the Research Study
CHAPTER TWO LITERATURE REVIEW
2.1 Introduction
2.2 Risks
2.3 Risk Management in Construction projects
2.3.1 Risk Communication
2.3.2 Strategies for Managing Risk
2.3.3 Risk Identification Process
2.3.4 Risk Assessment
2.3.5 Risk Classification
2.3.6 Determination of Risk
2.3.7 Risk Exposure
2.3.8 Types of Risk Factor
2.4 Critical Sources of Risk in Construction Projects
2.4.1 Risk Sharing in Ese-Odo, Ilaje and Okitipupa Local Governments
CHAPTER THREE RESEARCH METHODOLOGY
3.1 Introduction
3.2 Research Area
3.3 The Research Sample
3.4 Questionnaire
3.5 Measurement of Variables
3.6 Method of Analysis
CHAPTER FOUR RESULTS, ANALYSIS AND DISCUSSIONS
4.1 Introduction
4.2 Descriptive Statistical Analysis of the Risk Results
4.3 Management/non-management Employees’ Perceptions of Financial Risk Variables in Ilaje,Ese-Odo and Okitipupa Local Governments
4.4 Summary of the Analysis of Financial Risk Variables in the three local Governments and their Pie Charts
4.5 Legal Risk Variables in Ilaje, Ese-Odo and Okitipupa Local Governments
4.6 Summary of the Results of the Analysis of Legal Risk Variables in the three Local Governments and their Pie Charts
4.7 Management Risk Variables in Ilaje, Ese-Odo and Okitipupa Local Governments
4.8 Summary of the Analysis of Management Risk Variables in three Local Governments and their Pie Charts
4.9 Market Risk Variables in Ilaje, Ese-Odo and Okitipupa Local Governments
4.10 Summary of the Analysis of Market Risk Variables in the three local Governments and their Pie Charts
4.11 Policy/Political Risk Variables in Ilaje, Ese-Odo and Okitipupa Local Governments
4.12 Summary of the Results of the Analysis of Policy/Political Risk Variables in the three Local Governments and their Pie Charts
4.13 Technical Risk Variables in Ilaje, Ese-Odo and Okitipupa Local Governments
4.14 Summary of the Results of the Analysis of Technical Risk Variables in the three Local Governments and their Pie Charts
4.15 Environmental Risk Variables in Ilaje, Ese-Odo and Okitipupa Local Governments
4.16 Summary of the Results of the Analysis of Environmental Risk Variables in the three Local Governments and their Pie Charts
4.17 Social Risk Variables in Ilaje, Ese-Odo and Okitipupa Local Governments
4.18 Summary of the Results of the Analysis of Social Risk Variables in the three Local Governments and their Pie Charts
4.19 Construction Risk Variables in Ilaje, Ese-Odo and Okitipupa Local Governments
4.20 Summary of the Results of the Analysis of Construction Risk Variables in the three Local Governments and the Pie Charts
4.21 Transportation Risk Variables in Ilaje, Ese-Odo and Okitipupa Local Governments
4.22 Summary of the Results of the Analysis of Transportation Risk Variables in the three Local Governments and their Pie Charts
CHAPTER FIVE CONCLUSIONS AND RECOMMENDATIONS
5.1 Conclusions
5.2 Recommendations
5.3 Contributions to knowledge
Research Objectives and Focus
The primary aim of this research study is to identify, quantify, and analyze the various risk categories inherent in building and construction projects across the Ilaje, Ese-Odo, and Okitipupa Local Governments in Ondo State, Nigeria, to better understand their impact on project performance and outcomes.
- Investigation of ten primary risk factors: financial, legal, management, market, policy/political, technical, environmental, social, construction, and transportation.
- Assessment of risk perception among both management and non-management personnel involved in local construction projects.
- Development of risk data based on a questionnaire survey distributed to key project stakeholders, including contractors and local government staff.
- Application of descriptive statistics to determine the influence of identified risk variables on the time, cost, and quality of local construction projects.
Excerpt from the Book
1.1 Background
Construction industry is a capital intensive industry as it involves many professionals in achieving a common goal. It is also complex in nature as it consists of a number of project parties such as clients, consultants, contractors and stakeholders. The relationship of project parties involved in construction projects requires the assessment and identification of risks inherent in every project type. However, building and construction industry compared with other industries in Ondo State have different risks inherent in its profit structure. The size of the project can be a risk factor due to its complexity. From projects initiation, planning, site investigation, design, execution, and handing-over, construction process is complex and is characterized by different types of risks and uncertainties.
However, most contractors in Ondo State have developed a series of rules of thumb in dealing with risks inherent in construction projects. These rules are generally associated with the contractor’s experience and judgments. Rarely do contractors in Ilaje, Ese-Odo and Okitipupa Local Governments quantify uncertainties and assess risks inherent in any construction projects they are handling. Even if they realize the type of risks involved, they are incapable to evaluate the potential impact associated with these projects.
In contract administration, the consultants (Architects/Civil Engineers) allow contractors to decide on the construction method, equipment, materials and type of professional skills required in these areas. The challenges facing contractors are the management of work force (professionals, para-professionals and skilled and un-skilled labor), procurement of construction materials to various construction sites, general environmental conditions of projects sites and weather. In this regard, many projects have failed to meet project deadlines, project costs and project quality.
Summary of Chapters
CHAPTER ONE INTRODUCTION: Provides an overview of the construction environment in Ondo State, defines the research problem, and outlines the core objectives of the study regarding risk assessment.
CHAPTER TWO LITERATURE REVIEW: Examines existing theories and previous studies on risk management, classification of risk factors in construction, and established methods for risk identification and mitigation.
CHAPTER THREE RESEARCH METHODOLOGY: Details the research design, the selection of the study area, the sampling techniques used for data collection, and the statistical tools employed for analyzing the risk variables.
CHAPTER FOUR RESULTS, ANALYSIS AND DISCUSSIONS: Presents the empirical findings of the study based on field data, providing detailed statistical analysis of the ten specific risk categories investigated across the three Local Governments.
CHAPTER FIVE CONCLUSIONS AND RECOMMENDATIONS: Synthesizes the research findings into final conclusions and offers professional recommendations for stakeholders to effectively manage identified construction risks.
Keywords
Risk Assessment, Construction Projects, Ilaje, Ese-Odo, Okitipupa, Ondo State, Project Management, Risk Identification, Financial Risk, Legal Risk, Technical Risk, Environmental Risk, Social Risk, Infrastructure Development, Stakeholder Management.
Frequently Asked Questions
What is the core focus of this research study?
The study focuses on investigating, identifying, and analyzing various risk categories inherent in building and construction projects specifically within the Ilaje, Ese-Odo, and Okitipupa Local Governments of Ondo State, Nigeria.
What are the primary themes addressed in the study?
The research explores ten key risk factors, including financial, legal, management, market, political, technical, environmental, social, construction, and transportation risks.
What is the ultimate objective of this thesis?
The primary aim is to identify and quantify risks that threaten project success, allowing contractors and clients to evaluate their potential impact on cost, time, and quality before projects are awarded.
Which methodology was used to conduct this research?
The study utilizes a quantitative research approach, employing a questionnaire-based survey distributed to 72 respondents (management and non-management personnel) and analyzed using Microsoft Excel and descriptive statistics.
What does the main body of the work cover?
The main chapters include an extensive literature review, the research methodology, and a comprehensive section presenting the results, analysis, and discussion of the survey data for each of the identified risk categories.
Which keywords best characterize this research?
Key terms include Risk Assessment, Construction Projects, Ondo State, Project Management, and the various specific risk categories such as Financial, Technical, and Legal risks.
How are management risks specifically addressed in the study?
Management risks are analyzed through eleven variables, including change of top management, time constraints, project planning and budgeting, and poor relations with government departments.
What is the significance of the "Risk vs. Opportunity" figure in the study?
The study explicitly recognizes that risk is not just about "down-side" losses, but also includes "up-side" opportunities, defining risk as the product of uncertainty and the potential for either loss or gain.
- Arbeit zitieren
- B.SC Udufo Gbadamashi (Autor:in), 2019, Risk Assessment in Construction Projects in three Local Governments in Ondo State Nigeria, München, GRIN Verlag, https://www.grin.com/document/469730
