ASSESSMENT OF RISK MANAGEMENT PRACTICES IN PUBLIC BUILDING CONSTRUCTION PROJECTS IN FEDERAL CAPITALTERRITORY ABUJA

Abstract

This research assessed risk management practices on public building construction projects in Federal capital territory Abuja. The study identified the types of risk on public building construction projects, evaluated the practices of managing risk on public building project and assessed the effect of risk management practices on public building construction project performance in the study area, and this was achieved using both inferential and descriptive statistics. A total population of 230 building construction stakeholders were considered for this study, with a sample size of 103. A total of 93 respondents participated in this study. Results from this study showed that (68.7%) of the respondents concluded that design risk was a major risk factor affecting public building construction projects in the study area. (71.9%) of the respondents identified risk monitoring action as the most important method of managing risk in the study area. From the study area, all building construction projects performance indices were positively correlated with a significant difference of (p ≤ 0.05) except delay in delivery and projects meeting specifications of the clients. The government, clients and consultant monitoring team should ensure that the risk management practices should be adhered to and sanction should be levied on defaulters. this study will enlighten building construction professionals on the application of risk management practices as a tool to archive targeted objectives.