"Risk Management Practices, Insurance Utilization, and Accidental Loss Projections in Ethiopian Construction Firms: A Case Study of Sunshine Construction Company and China Communication Construction Company (Ethiopia Branch) LTD"
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Date
2024-10
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Addis Ababa University
Abstract
This project paper present a comparative assessment of construction project risk management through insurance in case of Sunshine Construction Company and China Communication Construction Company. The study delves into the risk management strategies of these companies in the construction sector, emphasizing the pivotal role of insurance in mitigating project risks. By examining the companies risk management practices, the challenges faced in purchasing insurance policies and forecasting the seasonal trends in accidental losses, the research identifies key difference in their approaches and provided valuable insight for enhancing risk management effectiveness. The forecasted accidental loss for both companies over the next three year is analyzed, revealing potential seasonal patterns and trends in construction project risk. The study recommendation aim to improve risk management practices, address challenges in purchasing insurance policies and predict accidental losses, it offer valuable insight for the construction industry in Ethiopia.
Key words: Risk, Construction project risk, Insurance Premium, Accidental Loss, Sum Insured