Assessing risks in construction joint ventures in Ghana: a case study of selected construction companies in Volta Region, Ghana

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Date
2021-07-06
Authors
Kwame, Fudzi Frank
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Abstract
Building thorough risk management strategies for construction project in joint venture operation ultimately benefits both the local contractors and the foreign partners. It becomes much more essential when considering public supplies due inherit nature of risk currently impacting of most of Assembly projects. This study was undertaken to assess risks that in international construction joint venture encounter on projects in Volta Region, Ghana. A case study considers Kpando and Ho Municipal Assemblies where joint venture as risk mitigating mechanism in the municipalities are new. The research methodology used descriptive statistics using Kruskal- Wallis non-parametric group alternative analysis, which compares more than one means or groups to obtain the p-values and mean values. The cut-off point of 5.00 for mean and median marks as well as p=0.005 were set and considered based on five-point Likert scale designed. It was found from the study that risk such as technical risk, managerial risks, market risks legal risks and political risks were rated very high It was concluded from the study that risk is an inherit dieases which is prevalent in construction project supplies. It affects Joint venture construction implementation process requiring effective and efficient identification, qualifiacation as well as risk response strategies to mitigate the impact. It was recommended that partners in joint venture should consider effective risk management strtategies through the uses of both“PMI general standardized approach” and “Fuzzy AHP approach”. That proper accounting principles are adopted by local contractors which improve on creditworthiness of host partners, whiles municipal bonds are provided for the local partners to attract foreign contractors in order for local contractors to compete favorably.
Description
A thesis submitted to the Department of Construction Technology and Management, Kwame Nkrumah University of Science and Technology, Kumasi in partial fulfilment of the requirements for the Award of Master of Science in Construction Management.
Keywords
Assessing risks, Construction, Joint ventures in Ghana, Volta Region
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