Construction Risk Factor Management and Building Project Delivery in Akure, Ondo State, Nigeria

Abstract

The current research examines how Construction Risk Factors Management (CRFM) influences building project delivery in Akure Metropolis, Ondo State, Nigeria, adopting a quantitative research design based on a survey approach. A total of 391 registered construction professionals—including project architects, builders, engineers, project managers, and quantity surveyors—were identified, and a sample of 263 was selected using purposive sampling based on industry experience. Data were collected through self-administered questionnaires, with 219 valid responses obtained, representing an 83.3% response rate. Descriptive statistics and t-tests were used to determine the level of significance of different construction risk factors, while multiple linear regression analysis quantified the contribution of risk management practices to project outcomes. The findings revealed that construction risk management explained 9.2% of the variance (R² = 0.092) in building project delivery, indicating a modest but significant effect. Legal risks (Mean = 4.39), largely arising from unresolved land or contract disputes and prolonged arbitration periods, were identified as the most significant. Project management risks (Mean = 4.33), including design errors, inadequate site monitoring, and poor planning, also significantly affected project delivery. Environmental risks (Mean = 4.33), such as adverse weather, poor terrain conditions, and inadequate waste management, posed additional challenges. Financial risks (Mean = 4.23), resulting from inflation, exchange rate fluctuations, and delayed payments, as well as safety risks (Mean = 4.11) linked to non-compliance with safety protocols, were equally critical. Among risk management practices, risk regulation (β = 0.191, P = 0.043) emerged as the most influential, underscoring the importance of compliance with safety standards and enforcement of organizational policies. Risk assessment (β = 0.182, P > 0.05) and risk identification (β = 0.054, P > 0.05) were less impactful, possibly due to their generic rather than project-specific application. Paired sample t-tests revealed a significant difference between internal risks (Mean = 4.58) and external risks (Mean = 4.23), with internal risks exerting a greater impact on project delivery. Despite the small effect size (Eta Squared = 0.03), internal risks such as organizational lapses, poor resource allocation, and weak communication were found to have more detrimental consequences than external risks. The study concludes that legal risks were perceived as more prevalent than project management and environmental risks. It therefore recommends prioritizing risk regulation and strict enforcement of safety standards within construction firms, developing project-specific risk assessment and identification techniques, improving communication and resource management to mitigate internal risks, and implementing training programmes to strengthen risk management competencies among construction professionals.