Identification and classification of construction-risk factors for ghanaian construction projects: An integrated...

The construction industry in Ghana is of paramount importance to the socio-economic progress of the country but recurringly faces noteworthy risk factors. The identification of crucial elements within the construction-risk category has not received considerable attention in the Ghanaian construction sector. This research work seeks to identify and classify the most critical construction-risk factors that impact construction projects in Ghana and also attempts to create a confirmatory factor model that could assist in understanding the potential of these factors. The study utilizes a deductive methodology and positivist philosophy. The authors observation of construction projects and literature search led to the identification of 43 factors categorized as construction-risk variables. A questionnaire survey was used to obtain responses from 462 professionals, including 166 quantity surveyors, 158 engineers, 89 contractors, and 49 architects working on various construction projects in Ghana. Information collected from these responses was examined and interpreted using descriptive statistics and multivariate analysis techniques to derive meaningful insights. From the analysis, three factors - "Effective resource planning and control", "Timely conflict/dispute resolution" and "Knowledge of new technology requirements" - were identified as the most critical construction-risk factors impacting construction projects in Ghana. This study developed a model encompassing all items in three primary components that represent the critical construction-risk factors influencing construction projects in Ghana. A major recommendation of this study is that every project should have a mandatory conflict resolution board to ensure the timely resolution of conflicts to guarantee the success of these projects. The practical significance of this study lies in its identification of crucial construction-risk factors that might affect the outcome of construction projects in Ghana. The initial technique in management is to identify all significant risk factors that might possibly affect the success of construction projects. To reduce the negative effects of these risk variables, project managers must first identify the most important ones.