Determination of skills required by project managers for managing risks in construction projects
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Date
2021-07-09
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Abstract
Every project has risks as soon as it initiated, and how well the project manager succeeds
with work associated with risks, can make or break, the whole project. The aim of this
research was to determine skills required by project managers for managing risks in
construction projects. In order to achieve the aim, the following objectives were set: to
evaluate the various types of risks inherent in the construction industry; to assess the
effects of risks in the construction industry, and to evaluate the skills required by project
managers for managing risks in construction projects. A critical review of literature was
conducted. The quantitative research strategy was adopted. Questionnaires were used to
gather data from contractors as well as consultants in Kumasi metropolis. Purposive
sampling technique was adopted. Statistical Package for Social Sciences (SPSS) software
was used for the analysis. Descriptive statistics, mean score ranking, one sample t-test
and Cronbach Alpha were the analytical tools. From the findings, Variations; Unrealistic
contract duration; Unforeseen general conditions; Delay in payment to contractor for
work done; Damages and delays during construction were ranked as the five most severe
risk factors that affect construction projects. Furthermore, Loss to the economy; Time
overrun; Cost overrun; Conflicts between stakeholders; Late site hand over were the
most severe effects of risks in the construction industry. Lastly, Ability to identify risks;
Monitoring and evaluation of project; Risk Analysis; Contract administration; Team
Leadership were the most important skills required by project managers for managing
risks in construction projects. It is recommended that top management should be strongly
committed to the risk management process
Description
A thesis submitted to the Department of Construction Technology and Management, Kwame Nkrumah University of Science and Technology, Kumasi in partial fulfillment of the requirement for the Award Degree of Master of Science in Project Management.
Keywords
Roles, Risk, Management, Projects