The exploration of the influence of risk management on the success of construction projects.

Abstract

This dissertation explores the influence of risk management on the success of construction projects. The construction industry is inherently risky, with various uncertainties and challenges that can impact project outcomes. Effective risk management practices have been recognized as critical factors for achieving project success and minimizing adverse consequences. The objective is to gain a comprehensive understanding of how effective risk management practices contribute to project success in the construction industry. The study adopts a qualitative research approach, utilizing interviews as the primary method of data collection. The research is situated within the context of the construction industry in Kwazulu Natal South Africa looking at Raubex KZN. The Raubex KZN company is known for its rapid urbanization and diverse range of construction projects, especially in roadworks, providing an ideal setting to examine the interplay between risk management and project outcomes. Semi-structured interviews were conducted with a purposive sample of key stakeholders involved in construction projects within Raubex KZN. The sample size of 12 participants represents various roles, including project managers, construction managers, quality managers, health and safety officers and site engineers, ensuring a comprehensive exploration of risk management practices and their influence on project success. Through the qualitative analysis of interview data, themes and patterns emerged regarding the role of risk management in construction projects. The findings shed light on the strategies, processes, and challenges associated with risk identification, assessment, mitigation, and monitoring. Furthermore, the study uncovers the impact of risk management practices on project schedule adherence, cost control, quality assurance, and safety performance. The results provide valuable insights into the perceptions, experiences, and perspectives of industry professionals regarding risk management and its effect on project success.