The paper evaluated the effectiveness of risk monitoring through the project life cycle of a construction project of a shopping center in Port Harcourt.
In line with this need, this paper established a system to improve the time, cost and quality performance of building construction projects in developing countries through a comprehensive risk management model that ensures that the expectations of clients are met. To achieve the aim of this paper, a mixed methodological approach was adopted.
Through the review of literature, a conceptual risk management framework suitable to elaborate risk assessment of building construction projects especially for developing countries was developed. The result showed the interrelation between the risk factors and how they contributed to cost and time overruns as well as quality problems.
Table of Contents
1 Introduction
2 Literature Review
3 Research Methodology
4 Results
5 Summary
6 Conclusion
7 Recommendations
8 References
Research Objectives and Topics
This paper aims to evaluate the effectiveness of risk monitoring throughout the project life cycle of a shopping centre construction in Port Harcourt, Nigeria, with the goal of establishing a framework to improve time, cost, and quality performance in developing countries.
- Analysis of risk factors affecting building construction performance (cost, time, quality).
- Evaluation of the impact of client and contractor activities on project risks.
- Investigation of risks specific to the Nigerian construction sector.
- Identification of suitable risk management strategies and responses.
- Development of a conceptual risk management framework for construction projects.
Excerpt from the Book
Risk Factors as a Result of Contractor’s internal activities
From the case study, the contractor’s activities known to introduce risks to the project were captured as wrong planning and management techniques, ineffective use of technology, use of outmoded construction techniques, lack of motivation, poor site management, poor communication, unsuitable leadership styles and instability in management on site. As gathered from the data collected, these sources of risks arise from the actions or inactions on the side of the contractor and have an influence on quality, cost and time performance of projects. On this project, a common source of risk was the planning activities of the contractor.
The issue of financial difficulties was also found to be linked to the issue of bribery and corruption which was gathered to be a major factor in the construction industry in Nigeria. Another source of risks as captured on the projects was the issue of leadership. In an interview with the person in charge of risk management on the project, he suggested that the leadership style adopted on the site affect issues such as time, quality and cost on the project.
Summary of Chapters
1 Introduction: Provides an overview of the construction industry's importance and the specific challenges regarding risk management in Nigeria, supported by a case study background.
2 Literature Review: Discusses various risk management definitions, processes, and frameworks used in the global construction industry.
3 Research Methodology: Details the mixed methodological approach, including interviews with site personnel and documentary analysis used for data collection.
4 Results: Presents findings on common risk factors, specifically addressing client, contractor, and external influences, as well as risks peculiar to the Nigerian sector.
5 Summary: Consolidates the research findings and outlines the identified risk management system for improving project performance.
6 Conclusion: Reflects on the prevalence of risks in construction projects and the necessity of effective monitoring to prevent financial losses.
7 Recommendations: Suggests practical improvements for construction organizations, including training and further research into project risk aspects.
8 References: Lists the academic and industry sources utilized to support the study.
Keywords
Project, risk, risk factors, risk management, project management, project success, project life cycle, cost overruns, time overruns, quality assurance, construction industry, Nigeria, risk identification, mitigation strategies, site management.
Frequently Asked Questions
What is the primary focus of this research?
The research focuses on evaluating the effectiveness of risk monitoring throughout the project life cycle specifically for shopping centre construction in Port Harcourt, Nigeria.
What are the central themes of the study?
The central themes include identifying risk factors in client and contractor activities, external influences like inflation and government policy, and specific challenges within the Nigerian construction sector.
What is the core objective of this work?
The primary objective is to establish a conceptual risk management framework that improves time, cost, and quality performance for construction projects in developing countries.
Which research methodology was adopted?
The study adopted a mixed methodological approach, combining documentary analysis with site visits and semi-structured interviews with key project participants.
What is covered in the main body of the paper?
The main body covers a literature review of global risk management models, an analysis of empirical data from a case study, and a classification of critical risk factors affecting project performance.
Which keywords best characterize the paper?
Key terms include Project, risk, risk management, project life cycle, cost overruns, quality assurance, and Nigerian construction industry.
How does the author define risk in this context?
The author views risk as any uncertainty that can negatively affect the project's time, cost, or quality objectives, necessitating a proactive and cyclical management approach.
What unique risks does the author identify in Nigeria?
The author highlights issues such as corruption, lack of advanced mobilization, inadequate financing arrangements, and cultural attitudes toward safety as unique contributors to risk in the Nigerian sector.
What is the significance of the "Risk Register" in this study?
The risk register is identified as a critical tool for tracking identified risks, cost benefits of mitigation, and ongoing monitoring to ensure project control throughout the life cycle.
- Arbeit zitieren
- Newman Enyioko (Autor:in), 2020, Effectiveness of Risk Monitoring. The project life cycle of a construction project in Port Harcourt, Nigeria, München, GRIN Verlag, https://www.grin.com/document/537306
