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Risk management practice in construction project (a case study of Ebonyi state)

 Department:Quantity Survey  
 By:usericon opc123  

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Abstract
The construction project is full of risks and uncertainty due to its nature and this made its project unattractive for non—risk takers. This study is designed to inquire into the risk management practice in construction projects. With a view to establish how risk are perceived in project, the use of risk management process (RMP)  in managing risk and how risk change in a project. Data was collected from both primary and secondary source. The study utilizes research survey using questionnaire as the instrument of data collection 80 questionnaire were distributed and 64 valid and accurate questionnaire was returned and 16 discarded. The data collected were analyzed by the use of tables, percentages, mean score and rank order. The study shows sufficient evidence leading to the conclusion that risk management process (RMP) are not widely used by professionals (i.e it close to zero), also risk are been managed everyday in the industry, but not in a structured way as identify in the literature, it was equally conducted that the respondent are willing to use risk management process (structured) if adequate information is been provided, it gives possibility to determine which identified risk has biggest impact on time, cost and quality. The work recommended that each project manager should have a basic knowledge about risk associated to a project and how to handle tem. Adequate information should be provide as a guide for the use of structured method of managing risk by professional and risk should be respondent by eliminating  (mitigation), reduction, trasfer and retention. ...
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