EVALUATION OF RISK FACTORS AFFECTING DELIVERY OF CONSTRUCTION PROJECTS IN EKITI STATE, NIGERIA.

Abstract

This study identified the risk factors that affect project delivery and their effects. It also analysed the benefits of risk management that facilitate quick delivery of construction projects. A descriptive research design was undertaken for this study. Stratified sampling technique was used via the use of questionnaires. Population of the study includes clients, contractors, architects and quantity surveyors that are recently involved in construction projects. A total of 146 questionnaires were distributed and 128 were returned and used for the analysis. The data collected was analysed by descriptive statistical tools using frequency, percentage, mean score and relative importance index (RII). The results show that the most critical risk factor that affects delivery of project is insufficient funding of project by the client. In conclusion, the construction industry is subject to more risk and uncertainty than many other industries. Implications of this study to stakeholders in the construction industry is such that the findings of this study can create awareness for the stakeholders and construction practitioners of the prominent risks that affect delivery of projects and this can help in better management of future project in Ekiti State, Nigeria and other developing countries. Since the most important risk factor that affects project delivery is insufficient funding of project, it is suggested that the financial problems of project be dealt with throughout the life cycle of the project, thereby helping the project to be delivered to time