AN APPRAISAL OF FACTORS MILITATING AGAINST THE EFFECTIVE IMPLEMENTATION OF FORMAL RISK MANAGEMENT TECHNIQUES IN PROJECT DELIVERY IN ABUJA, NIGERIA
AN APPRAISAL OF FACTORS MILITATING AGAINST THE EFFECTIVE IMPLEMENTATION OF FORMAL RISK MANAGEMENT TECHNIQUES IN PROJECT DELIVERY IN ABUJA, NIGERIA
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Date
2014-10
Authors
Nathan, IKOJA
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Abstract
Non utilization of Formal Risk Management Techniques in project delivery by the project team
has been identified as one the causes of project failure This prompts the question ‘what factors
are responsible?’ This study therefore first presents Risk management in project delivery as it
relates to an integrated project team as well as internal issues. It then focuses on formal Risk
management techniques and their processes of implementation with a view to revealing the
internal and external barriers that inhibit their utilization in project delivery in Abuja Metropolis,
Nigeria. A total of 391 questionnaires were distributed to construction firms and stakeholders in
ABUJA metropolis but a total of 203 firms responded. Data retrieved were analyzed using
descriptive statistics, ANOVA and spearman correlation coefficients. The internal barriers were
found to be cost and time intensiveness, argumentative sessions that create riskier stance
including subjective judgment that lacks accurate results while the external barriers were found
to be lack of risk assessment training in place, lack of collaboration by parties on a project, low
level of risk consciousness, ineffective monitoring by heads of firms and lack of historical data
across the project team’s spectrum. The study recommends strategies such as improving the grey
areas in the implementation processes through research for internal barriers and conducting
sensitization, legislation, business regulations and mandatory training to overcome the external
barriers.
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Keywords
FACTORS MILITATING, RISK MANAGEMENT