Assessment On Project Risk Management Practices In Railway Construction Projects: The Case Of Ethiopian Railways Corporation
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Date
2018-06-06
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Addis Ababa University
Abstract
The history of the railway sector in Ethiopia has been dominated by the story of Ethio-Djibouti Railway Company for more than a century. However recently Ethiopia is investing billions of dollars, which is highly indebting the country, to construct railway infrastructures throughout the country and their successful completion and operation is a must. To be successful, a project organization should be committed to address risk management proactively and consistently throughout the project. This study tries to assess and shade light on the current project risk management practices of railway construction projects undertaken by Ethiopian Railways Corporation.To address the research objective review of related literatures is made; questionnaires were prepared and distributed to selected respondents to collect necessary data. After collecting and analyzing data the study has identified that due to different factors the level of risk awareness in ERC is low. In addition it is pointed out by the study that the corporation is not giving proper emphasis for risk management practices indicated through not assigning adequate resources for the risk management activities, poor communication, lack of experience in risk management practices, no training and development programs, not structuring a well-organized specific department for managing risks and having no handy risk policy. The research further identified financial risks as a type of risk which is highly probable to occur and with a relatively high impact on project cost. Access to construction site and material risks are further recognized by the study as having relatively high impact on project time and quality respectively. Finally, based on the findings and conclusions made, the research ends by providing recommendations which will help to enhance the project risk management practices of ERC.
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Keywords
risk management, risk awareness, railway projects