Documente Academic
Documente Profesional
Documente Cultură
BY
13/32138/U/4
August, 2018
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INTRODUCTION
BACKGROUND OF STUDY
The research reported upon in this research is focused upon assessing key
risk factors affecting g construction project cost in Nigeria. The research is to
assess the risk factors affecting construction project performance from stakeholder
perspective and at a project level. Construction organization's efficiency and
effectiveness largely depends on how managers scan the external project
environment, identify the critical factors and adapt their organizations accordingly
(Baloi 2002).
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circumstances that could occur, have an effect on the achievement of the project
objectives.
An effective risk management method can help to understand not only what
kinds of risks are faced, but also how to manage these risks in different phases of a
project. Owing to its increasing importance, risk management has been recognized
as a necessity in most industries today, and a set of techniques have been
developed to control the influences brought by potential risks (Schuyler, 2001;
Baker and Reid, 2005). Compared with many other industries, the construction
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industry is subject to more risks due to the unique features of construction
activities, such as long period, complicated processes, abominable environment,
financial intensity and dynamic organization structures (Flanagan and Norman,
1993; Akintoye and MacLeod, 1997; Smith, 2003).
This study is based on the assumption that by identifying the factors both
internal and external factors, determining which risk are likely to affect the project,
documenting the characteristics of each will enable the participants to better handle
risk factors. This will consequently affect the performance of the project by
maximizing the result of positive events and minimizing the consequence of the
adverse effect.
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examining the impacts of risks on one aspect of project strategies with respect to
cost (Chen et al., 2000), time (Shen, 1997) and safety (Tam et al., 2004).
Research AIM
The aim of the study is to evaluate the impact of risk factors on building
construction projects with a view to improving the risk management practices in
building construction project.
OBJECTIVES OF STUDY
1) To identify risk factors associated with building construction projects and find
an appropriate approach to categorise them by reviewing the relevant literature.
2) To rank the categorised risk factors (RF) based on their relative importance
index (RII) values for their negative impact on project completion from the
construction parties’ perspective.
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RESEARCH QUESTION
Based on the purpose of this study, the following research questions have been
formulated in the following pattern:
2. What are the possible ways to rank those risk factors identify?
4. What do you think is the possible solution to mitigate those risk factors?
The need for this study is to understand the importance of risk management
because its execution is very less in the construction industry compared to other
industries due to lack of knowledge. The track record of the construction industry
is very poor in terms of coping up with risks in projects.
The scope of this research is limited to the impact of risk factors on building
construction project and proffering solutions on how to reduce improve risk
management in Bauchi state.
The study is limited and to restrict to Bauchi state focusing on some
randomly selected contracting and consulting films within the state.
Target respondents for this study are the principal actors in the construction
industry namely: the Client, the Consultant and the Contractor.
The data obtain shall be analyze using several methods and equations,
which include general statistics, one way Anova, Pearson product moment
correlation coefficient, and relative important index and result will be presented
using histogram and pie chart. All tests and analysis will be done using SPSS
software.
CONCLUSION/RECOMMENDATIONS
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