Assessment of Risk Management in Construction Project in Case of Ethiopian Engineering Investment Group Construction
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Date
2024-09
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Addis Ababa University
Abstract
The construction industry in Ethiopia faces more dangers and unpredictability than many other industries. This study looked at how Ethiopian Engineering Investment Group Construction, a top contractor in Ethiopia, thinks about and deals with risks in their construction projects. To know how much the people in charge of building projects know about risks, and how they handle them. It studied the engineers, managers, and project team at Ethiopian Engineering Investment Group Construction to find out their risk awareness and management practices. It also looked at the systems and practices they use to manage risks in their projects and in their company overall. It used a method to ask people questions and gather different kinds of information. It looked at the information to help us reach our research goals. A survey was done to find out the total number of engineers, managers, and team members working on 10 construction projects for Ethiopian Engineering Investment Group Construction and received a 90. 7% response rate, which is good. The research found that most site engineers, project managers, and project management team members at Ethiopian Engineering Investment Group Construction think that there is a lot of risk involved in their work. Most of them see themselves as people who take careful chances. When building something, the company might have problems with technology, management, social issues, money, and the environment. Ethiopian Engineering Investment Group Construction doesn't have a good plan for managing risks, or a way to check if things are going well. They hardly ever hold trainings or workshops to help decision makers understand how to make good plans, put them into action, and keep an eye on them. The engineers and managers on the project team currently have to rely on their experience and any classes they took in school. So, the projects need to get better at managing risks by making sure they do what they're supposed to do in practice, not just in theory. The research used a descriptive type of research in order to answer what the perception of decision makers towards risk management using quantitative and qualitative data analysis.
It can be done more research to understand how people involved in construction feel about taking risks and how they manage those risks.
Key words: Risk awareness, project risk, risk management, risk management process