EKSU Journal of the Management Scientists

Risk Identification Techniques and Project Success: Evidence from Building Construction Companies in Lagos State, Nigeria

Abstract

Boosting project risk identification, as evidence for productive instrument, can assist the sustenance of project success to cushion builders’ income, and ensure adequate property safety in Lagos State Nigeria. This study examined the relationship between risk identification techniques and project success, with empirical evidence drawn from building construction companies in Lagos State. The study employed a cross-sectional survey design cum double sampling technique; comprising judgmental and convenience. The study employed a structured questionnaire to gather data from a sample of 147 participants. Descriptive statistic, Friedman’s rank test and simple regression techniques were adopted in the data analysis. The study revealed the rank-order analysis of risk identification techniques and project success criteria. Further results also displayed the positive relationship between risk identification techniques and project success criteria of selected building construction companies in Lagos State, Nigeria. The study recommended that government agency, saddled with building control in Lagos State, should ensure physical inspection is carried out on public buildings (either completely or under construction) in order to compel builders for proper risk identification. Having carried out physical inspection, it is important for builders to be enlightened on builders ‘liability insurance (being a compulsory insurance product) and thus, ensure that buildings under construction are covered by contractors’ all-risk insurance policy.