THE NATURE AND MANAGEMENT OF RISK IN A CONSTRUCTION COMPANY SITES
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
This study was carried out to examine the nature and management of risk in a construction company sites. Specifically, the study aims to find means of risk management that can be utilized by the network, make new suggestions on the use of these risk management methods, find the means to manage those risks that are the most effectively managed with the co-operation of several project actors, identify the risks that are caused by structuring the work in increasingly complex project networks. The purpose is to identify the risks in project networks, find existing methods for project risk management in construction project networks by interviewing central actors working on two different construction projects and study and explain some risk management means in project networks by the network governance theory. The study employed the survey descriptive research design. A total of 30 responses were validated from the survey. From the responses obtained and analyzed, the findings revealed that project risk management is the process of identifying, analyzing and responding to any risk that arises over the life cycle of a project, the process that project managers use to manage potential risks that may affect a project in any way, the practice of identifying, evaluating, and preventing or mitigating risks to a project and a process focused on risk events being identified and managed proactively, helps you lower the chances of failure. The study also revealed project network governance is steering and management strategies aimed at managing the complex problems in an interdependent setting with many different actors, interfirm coordination that is characterized by organic or informal social system, the governance of a network of networks and the network for the individual project. The study further revealed the project risks in networks is unexpected event that can affect your project, the potential of a project to fail, an uncertain event or condition that, if it occurs, has a positive or negative effect on a project objective and A risk register for each project to track the risks and issues identified. More so, the study revealed risks are managed in a project network is by avoiding, accepting , reducing and transferring. Finally, the study revealed co-operative ways exist to manage risks through loss prevention, Treat the risk, Monitor and Report on the risk . The study thereby recommend that It is noticed that construction project risks are manageable. Therefore, contractors should consider the benefits of managing construction project risks so that they will be able to acknowledge the importance of managing the construction project risks. They should implement the strategies to manage risks as discussed in this study on the real projects.
Related Project Materials
IDENTIFICATION OF TEACHING TOPIC IN SENIOR SECONDARY SCHOOL ENGLISH LANGUAGE
Background to the Study
Learning of mathematics developsgood knowledgeand understanding because of its...
EXAMINATION OF TEST ANXIETY ON ACADEMIC PERFORMANCE OF UNDERGRADUATE STUDENTS
EXCERPT FROM THE STUDY
First let us see what is anxiety? Anxiety means apprehension, tension, or uneasiness characterize...
THE IMPACT OF FAKE NEWS ON THE SOCIETY
ABSTRACT
This research presents the results of the impact of fake news on Nigeria Society, a case study of Yaba College...
THE EFFECTS OF STUDY HABITS ON ACADEMIC PERFORMANCE OF STUDENTS IN PUBLIC SECONDARY SCHOOLS OF CHIKUN LGA IN KADUNA SOUTH
ABSTRACT
In the fields of education and psychology, learning has been discovered all over the world to be a highly compl...
EFFECTS OF PUBLIC RELATIONS ON HOTEL MANAGEMENT
Background of the Study
Because of the growing level of competition in the business world in recent years, companies hav...
THE EFFECTIVENESS OF APPRENTICESHIP TAX INCENTIVES IN VOCATIONAL SECTORS
ABSTRACT: This study investigates the effectiveness of apprenticeship tax incentives in vocational sectors, emphasizing their role in encourag...
CAUSES AND EFFECT OF DOMESTIC VIOLENCE IN NIGERIA (A case study of Ajegunle Lagos)
Abstract
Domestic violence has caused so many issues in the life of many Nigerians; separating families and friends. Ni...
EFFECT OF BANK CHARGES ON CUSTOMER SAVING CULTURE A CASE STUDY OF UNION BANK PLC
Abstract
This research work assess the effect of bank charges on saving culture a case study of union bank Enugu...
UN PEACEKEEPING IN AFRICA: EFFECTIVENESS AND PROBLEMS
ABSTRACT
The research provides an appraisal of UN PEACEKEEPING IN AFRICA. It investigates the effectiveness and problems...
EFFECTIVENESS OF EARLY CHILDHOOD NUTRITION PROGRAMS IN PROMOTING HEALTH OUTCOMES AND DEVELOPMENTAL MILESTONES AMONG CHILDREN
Abstract: This research investigates the effectiveness of early childhood nutrition programs in promoting he...
