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Abstract

This subject of the dissertation concerns the evaluation of project risk management methods practiced in the Nigerian building construction industry. This study is to analyse most of the risks undermining the construction industry, for example, budgetary overruns, time delays, etc. Through the identification of the root causes and providing an overview of the impact of these conditions on the completion quality, completeness, and expense, the study strives to derive a proposal of effective strategies and recommendations that shall be used to increase competence in the risk management area. The rationale for this project is the solid foundation of adverse results from risky actions that can result in the incompletion of the project, budget overruns, and poor quality. The aim of the research is to help stakeholders in the Nigerian construction industry work proactively and put measures in place to prevent the adverse consequences of risk on performance while at the same time being expansionist on the existing risk management practices.
This research analysed the condition of risk management methods, possibilities, and difficulties in the context of building construction projects in Nigeria, drawing on a thorough examination of the literature and empirical data. Examining elements like stakeholder dynamics, government influence, economic impact, etc, the study examined areas like risk identification, assessment, contingency planning, review and evaluation, reporting and documentation, risk communication, culture and training, mitigation, and monitoring, through comprehensive data gathering process using questionnaire to gather feedback from key stakeholders in the construction industry.
This research identifies areas for improvement, and makes recommendations for strengthening risk management resilience within the Nigerian building construction industry. The study added to the existing knowledge on project risk management in Nigeria and provided useful recommendations for policymakers and stakeholders who aim to enhance project outcomes and reduce risks in the ever-changing Nigerian construction landscape

Course: Construction Project Management - MSc - C1659

Date Deposited: 2025-01-15

URI/permalink: https://library.port.ac.uk/dissert/dis14632.html