A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
RISKS AND RISK MANAGEMENT IN BUILDING CONSTRUCTION PROJECTS FROM CONTRACTORS PERSPECTIVE IN ADDIS ABABA
Construction is a risky industry and there is no other industry requires proper application of business practices much as construction industry. The main objective of this research is to gain understanding of key risk factors that could face building construction projects in Addis Ababa and also to investigate the effectiveness of risk preventive and mitigative methods. This research has been achieved through a comparative study of questionnaires and interviews in Addis Ababa. The results of analyzing the 35 questionnaires, that were directed to building contractor respondents concluded that the key risk factors are: financial failure of the contractor, inflation, closure, defective design and delayed payments on contract, legal disputes during the construction phase among the parties of the contract, resource management, poor communication between involved parties, unmanaged cash flow, and occurrence of accidents because of poor safety procedures ,still there are many risk factors that contractors could not allocate them on the party that should bear these factors’ consequences. The study findings show that the building contractors suffer from lack of innovative methods to prevent or mitigate risks and do not utilize risk analysis techniques but depend broadly on direct judgment in estimating time and cost. Finally the results recommended that there is an essential need for more standardization and effective forms of contract, which address issues of clarity, roles and responsibilities, allocation of risks, dispute resolution and payment. Building contractors are called for identification of possible risk factors that could be faced and to allocate them contractually.
RISKS AND RISK MANAGEMENT IN BUILDING CONSTRUCTION PROJECTS FROM CONTRACTORS PERSPECTIVE IN ADDIS ABABA
Construction is a risky industry and there is no other industry requires proper application of business practices much as construction industry. The main objective of this research is to gain understanding of key risk factors that could face building construction projects in Addis Ababa and also to investigate the effectiveness of risk preventive and mitigative methods. This research has been achieved through a comparative study of questionnaires and interviews in Addis Ababa. The results of analyzing the 35 questionnaires, that were directed to building contractor respondents concluded that the key risk factors are: financial failure of the contractor, inflation, closure, defective design and delayed payments on contract, legal disputes during the construction phase among the parties of the contract, resource management, poor communication between involved parties, unmanaged cash flow, and occurrence of accidents because of poor safety procedures ,still there are many risk factors that contractors could not allocate them on the party that should bear these factors’ consequences. The study findings show that the building contractors suffer from lack of innovative methods to prevent or mitigate risks and do not utilize risk analysis techniques but depend broadly on direct judgment in estimating time and cost. Finally the results recommended that there is an essential need for more standardization and effective forms of contract, which address issues of clarity, roles and responsibilities, allocation of risks, dispute resolution and payment. Building contractors are called for identification of possible risk factors that could be faced and to allocate them contractually.
RISKS AND RISK MANAGEMENT IN BUILDING CONSTRUCTION PROJECTS FROM CONTRACTORS PERSPECTIVE IN ADDIS ABABA
ERMIAS HAILU (author) / Teklu Kassu (Phd.) (author)
2018-01-01
doi:10.20372/nadre:1550999912.32
Theses
Electronic Resource
English
DDC:
690
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