Risk identification and analysis as practiced by construction firms in Ghana.

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The significance of risk management has caused the construction industry to recognized risk management as a vehicle to ensure the safety operations of the construction industry as a whole. However, the leading challenges associated with risk management within the construction industry has led to exploring the general practices adopted by construction firms during the processes of identifying and analyzing risk at the various project phases. The study utilized both qualitative and quantitative approach to access participants’ understanding on risk analysis procedures as practiced by their respective firms. Grounded on literature, a questionnaire was designed to contain information on risk identification procedures and analyses adopted by professional in the construction industry. A questionnaire survey was conducted among building contractors who were purposively selected to elicit information pertaining to the study. Out of the fifty-five (55) questionnaires distributed to respondents in the Greater Accra Region of Ghana, only fifty-two (52) were returned and formed the basis of the analysis. The data were analysed using simple descriptive statistics and Relative Importance Index (RII). Results shows that, prevalence difficulties in the procedure of risk analysis practice, within the construction industry among others were as a result of lack of qualified personnel to critically analyze the procedures and administrative challenges. Therefore, it is recommended that, construction professional on successful projects, document challenges on risks so that they can be integrated into future projects to enhance risk management procedures. The study would aid project managers at the early stages of construction projects in the quest of averting risks.
A Thesis submitted to the Department of Building Technology, College of Art and Built Environment in partial fulfilment of the requirements for the degree of Master of Science,
process, risk identification, Risk management, construction industry