EFFECTS OF RISK ON PUBLIC BUILDING CONSTRUCTION PROJECTS IN OGUN STATE, NIGERIA

Abstract

The construction industry is exposed to a lot of risks due to the involvement of many professionals. The study was conducted to investigate the effects of risks on public construction projects in Ogun State with a view to creating the awareness of identifying risks during project planning phase. The study identified risks and assessed the effects of the risks involved in the management of projects. The population of the study comprised all public projects in Ogun State. The public projects include local government projects, state government projects and Federal government projects under construction and completed but yet to be delivered. Data were collected using both primary and secondary sources. Eighty-seven copies of questionnaire were administered and seventy-seven were retrieved and subsequently processed. The data collected was analysed using both descriptive and inferential statistics. The results showed that stability of the requirements (2.78), the design of both internal and external features (2.70), and tracking of construction progress versus plan (2.57) were rated low. It further showed that determining whether and how risks will be accepted, mitigated, transferred or avoided (2.32) also rated low. The study concluded that project supervisors or managers who are not project management professionals should register for a short term course in project management. This will assist the project team members in managing projects successfully.