A Study of Risk Management Practice of Highway Projects in Nigeria

Fabi, Jonathan K. and Awolesi, Jacob A. B. (2015) A Study of Risk Management Practice of Highway Projects in Nigeria. Journal of Economics and Sustainable Development, 6 (18). pp. 171-177. ISSN 2222-1700

Text JACOB ABIODUN AWOLESI 2015 iiste journal of economics and sustainable deve vol 6 ' study of risk...'.pdf Download (176kB)

Abstract

Construction Risk Management must be given adequate attention in order to ensure a successful project that meets the expectation of project goals and objectives thus risk management practice in Nigeria with respect to highway projects is explored in this study. Questionnaire survey was adopted for a population of 82 professionals (highway engineers, quantity surveyors and land surveyors) in clients, consultants and contracting organisations, using stratified random sampling techniques. The data collected were analysed by determination of the mean of the responses from the respondents and one way Analysis of Variance (ANOVA). Result of the analysis showed that; lack of accepted industry model for analysis of risk is rated as the most influencing factor in the implementation of risk management practice in Nigeria, followed by human/ organizational resistance. There is no significant difference at 5% level of significance between the responses of the clients, consultants and contractors on risk identification tools usage and risks response tools usage, risks analysis techniques usage of all the respondents except algorithms and Monte Carlo simulation. The result further showed that risk management practice is low in Nigeria, as all the respondents agreed that the use of rule of thumbs in managing construction risks associated with highways is prevalent as against modern techniques that are widely in use in developed countries. The study recommended adequate training for all stakeholders in highway construction sector to improve management of risks thus meeting project goals of time, approved budgets, and quality, imbibing the health and safety culture, and in an environmentally acceptable manner.

Item Type:	Article
Subjects:	G Geography. Anthropology. Recreation > G Geography (General) G Geography. Anthropology. Recreation > GE Environmental Sciences G Geography. Anthropology. Recreation > GF Human ecology. Anthropogeography
Divisions:	Faculty of Engineering, Science and Mathematics > School of Geography
Depositing User:	Mr Daniel Kumoye
Date Deposited:	25 May 2020 19:18
Last Modified:	25 May 2020 19:18
URI:	http://eprints.federalpolyilaro.edu.ng/id/eprint/164

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