Volume: 2 Issue 10 [October 2019]

Article:Factors Affecting Risk Management in Developing Countries

Author: Mkhokheli Nyoni, Dinesh Sukamani (PhD), Tafadzwa Natasha Mavengwa

Volume: 2, Issue 10; October-2019 ;

DOI: Nor. Am. Aca. Res. 2019 : 2(10) : 23-42; https://doi.org/10.5281/zenodo.3489804

Abstract: Developing countries construction projects are associated with various levels of risks. One of the common factors affecting risk management in developing countries is the lack of project management standards familiarity. The main purpose of this paper is to investigate the most significant factors affecting risk management in developing countries construction projects. The research approach starts with extensive review of literature to provide several factors list which was also thoroughly looked at to reach final factors list that has all the factors that may affect risk management in developing countries construction projects. A set of 12 main factors and their sub-factors were selected and a survey by questionnaire was conducted to identify the most effective factors among them all. Results were further analyzed using the Relative information index (RII) and the Analysis of variance (ANOVA). Results indicated that factors related to government instability are the most dominant in developing countries. However, there are many other factors not to be ignored that have a greater impact in risk management in construction projects of developing countries.

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