Global Risk Factors Affecting Performance of Construction Firms in Abuja, Nigeria
Global Risk Factors Affecting Performance of Construction Firms in Abuja, Nigeria
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Date
2019-06
Authors
IBRAHIM, A.M. IBRAHIM, A.A. ABUBAKAR, Muawiya
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Abstract
The study assessed the Global Risk Factors (GRFs) affecting performance of Nigerian
construction firms, with a view to identifying the most severe and appropriate risk response
techniques. In order to achieve this aim, the severity of GRF across different categories of
firms, and the risk response techniques most suitable for each GRF were examined. A total of
105 questionnaires were administered out of which a total of 49 were fully completed and
returned. Descriptive statistics was used to analyse the data collected using Likert scales,
while Analysis of variance was used to evaluate the similarities/differences in the views of
different categories of construction firms. The findings show that most construction firms
consider payment delays (mean = 2.65), poor project scope (mean = 2.40) and inadequate
'design information (mean = 2.39) as the most severe GRF affecting the performance of
Nigeria construction firms. It was also discovered that, despite the high likelihood and impact
of GRF such as; payment delays, design changes, and inflation/bank Interest rates amongst
others, most firms still opted to "accept1' them. On the other hand, poor project scopes, strikes,
failure to meet clients need and all factors related to unethical practices were "avoided", while
all legal related risk factors were "mitigated". It is hoped that these findings will help
construction firms in developing countries such as Nigeria to be more aware of the effect of
GRF in order to be able to assess them effectively before embarking on construction projects.
Description
Department of Building, Faculty of Environmental Design, Ahmadu Bello
University, Zaria
Email: aliyuibrahimmakarfi@yahoo.co.uk