A Quantitative Assessment of Risk Management Practices of General Contractors in Nigeria

The need for contractor risk management practices in the construction industry cannot be overemphasized. There exist a strong correlation between ineffective risk management practices and underlying causes of accidents. This scoping study was conducted to quantitatively assess the risk management practices of contractors and subcontractors operating in Nigeria. A literature review was first conducted to identify and categorise different risk management practices on and off a construction site. The population for the study was determined using stratified random method of sampling. A total of 150 questionnaires were administered over a twelve month period. Emerging findings suggest that clients and contractors are risk averse even though they claimed to have formal written procedures for risk management. Consequently, their awareness of the importance of risk management in construction business is more of lip services.