Critical Risk Factors Affecting Infrastructure Projects in Kwara State, Nigeria
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Date
2022-03-15
Journal Title
Journal ISSN
Volume Title
Publisher
USEP: Journal of Research Information in Civil Engineering
Abstract
Infrastructure projects are becoming larger in nature, more complex in a dynamic project environment which are vulnerable to various technical, socio-political, business uncertainty and project related risk. As a result, most of these projects are being over running in terms of either cost, time or expected quality. These projects therefore, require complex risk analysis, risk allocation and risk mitigation, given the highly complex nature and enormous amounts of resources required. The aim of this study therefore, is to identify the critical risk factors affecting the infrastructure projects delivery. Forty-eight risk factors were identified through extant literature review. This was followed by administration of questionnaire to construction practitioners involved in infrastructure projects in Kwara State, Nigeria. Three-stage approach was adopted in the data analysis. The first was determination of risk scores, followed by determination of relative significance of each risk factor using relative importance index (RII) and the final stage involved ranking of the risk factors based on their RII values. Based on this analysis, the study uncovered ten (10) critical risk factors namely, financial difficulties, incomplete design, time allotted to design, inadequate program planning and contractors experience. Others include delay in progress payment, inadequacy of site inspections, design team experience, unstable inflationary and foreign exchange rate. Correlation analysis was also conducted between the top 10 critical risk factors and the result reveled that there is a significant relationship between the identified risk factors. The study suggests that risk analysis should be conducted at the early stage of the project to identify and evaluate project related risks and appropriate mitigating measure should be put in place immediately. Findings from this study will be helpful to project stakeholders to understand the highly risky factors in infrastructure project and where applicable, assign responsibility for those who are best suited to control them
Description
Keywords
infrastructure project; critical risk; risk factors; risk management
Citation
Amuda-Yusuf, G., Adebiyi, R. T., Soliu, I., Ganiyu, A.-Y., Olanrewaju, O. L., Adebiyi, ;, & Taibat, R. (2022). Critical Risk Factors Affecting Infrastructure Projects in Kwara State, Nigeria. In Journal of Research Information in Civil Engineering (Vol. 19, Issue 2). https://www.researchgate.net/publication/360001730