KNUSTSpace >
Research Articles >
College of Architecture and Planning >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/123456789/13902
|
Title: | An assessment of risk management techniques by subcontractors on selected construction projects in Ghana |
Authors: | Awadzi, Raphael Adinyira, Emmanuel |
Keywords: | risk management subcontractors selected construction projects Ghana |
Issue Date: | 14-Jun-2021 |
Abstract: | The construction industry is one of the most dynamic, risky and challenging
industries. Managing risks in construction projects is recognized as a very important
management process which enables the achievement of project objectives in terms of
cost, time and quality. In achieving project and business objectives, subcontractors
usually tryout numerous techniques and management practices in addressing
construction risk. The aim of this study is to carefully explore the risk management
techniques used by the subcontractors in the Ghanaian construction industry. The risk
factors that typically affect Subcontracting and their severity on construction projects
were assessed. The study investigated the relative use of various risk management
practices and the popularity of available analysis techniques used by the
subcontractor. The objectives of this study have been achieved through a
questionnaire survey, which was used for data collection and the simple descriptive
statistics, relative importance index and mean score were employed analytical tools
and methods. Eighty (80) questionnaires were distributed to the subcontractors.
Respondents were selected using purposive sampling technique. Results showed that
subcontractors are very much familiar with various categories of risk involved in any
given project. However, financial risk happens to be the most threatening of all in
that, the issue of undamaged cash-flow was the profound issue. It was also revealed
that subcontractors were only use to brainstorming as risk identification despite the
other techniques which are more resourceful than brainstorming. Though
brainstorming is good it had the limitation of being controlled by the chairman at the
sitting of discussion who may sometimes exercise their own whims and caprices.
Recommendations of this study suggested that, there must be improvements in
education on risk management for professionals in construction industry and then
availability of a robust project development process, which is documented, adaptable,
periodically evaluate. Also, payment systems for completed contracts ought to be
modernized to offer financial stability to subcontractors. |
Description: | A thesis submitted to the Department of Construction Technology and Management, Kwame Nkrumah University of Science and Technology in partial fulfilment of the requirement for the Award of a Degree of Master of Science .November, 2018. |
URI: | http://hdl.handle.net/123456789/13902 |
Appears in Collections: | College of Architecture and Planning
|
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.
|