ASSESSMENT OF RISK MANAGEMENT CAPABILITY LEVEL OF BUILDING CLIENT IN ABUJA, NIGERIA

Abstract

ABSTRACT Every company today is faced with unexpected events that occur in a variety of settings and have varying characteristics and implications. These unexpected events can have significant implications for the business. Risks are unpredictable incidents that have negative consequences. The construction industry is no exception when it comes to being subjected to these dynamic and diverse uncertainties.The purpose of these study is to examine risk management in relation to the client knowledge of risk management evaluate the current capacity of client in risk management practice and also to developed a maturity model based on previously developed model to determine the effectiveness of building client to control risk with a view to improving the level of competence of the client in management risk. Questionnaire was used to collect data from the response (ministries and parastatals). The data required for the study are the risk management process and the basis for assessing the risk management capacity of building client and were collected from building clients, construction stakeholders in some selected ministries and parastatals within Abuja. Frequency distribution tables and percentiles were used to evaluate the data obtained on the respondents' general knowledge. The Mean Item Score and Relative Importance Index were used to assess the other objectives. It was discovered that the basis of assessing risk management capacity of building client are - risk management is essential to a client successful project. Finally the study concluded that although organization and stakeholders are aware of the existence of risk but to some degree, most of them have not outline a systematic and strategic means of managing risk. The study recommends that Top management should risk management, gives promotion, support and encourage risk reporting, risk management should also be practice on all project and should also be systematic, routine and standardised.