TABLE OF CONTENTS 

DECLARATION OF AUTHENTICITY............................................................................ii

 ABSTRACT..................................................................................................................iii

 ACKNOWLEDGEMENTS...........................................................................................iv

 DEDICATION...............................................................................................................v

 TABLE OF CONTENTS............................................................................................vi 

LIST OF TABLES ........................................................................................................x 

LIST OF FIGURES .....................................................................................................xi 

Chapter ONE

1.1 Background.............................................................................................................1

 1.2 Problem Statement...............................................................................................3 

1.3 Aim and Objectives................................................................................................5 

1.3.1 Aim.....................................................................................................................5

 1.3.2 Objectives...........................................................................................................5

 1.3.3 Research Questions..........................................................................................5 

1.4 Significance of Study ............................................................................................5 

1.5 Methodology..........................................................................................................6

 1.6 Scope of Study......................................................................................................7 

1.7 Structure of the Report ........................................................................................7 

1.8 Chapter summary...................................................................................................8

Chapter TWO

2.1 Introduction ...........................................................................................................9 

2.2 Overview of Nigeria`s Economy and the Construction Industry.............................9 

2.3 Overview of Project and its lifecycle ..................................................................10 

2.3.1 Construction projects .......................................................................................12

 2.4 Project Management...........................................................................................14 

2.4.1 Project Management Processes.......................................................................16

 2.5 Risk overview......................................................................................................16 

2.5.1 Risk and Uncertainty........................................................................................20

 2.5.2 Sources of risks .............................................................................................22

 2.5.3 Identification of Risk Factors in Construction Projects...................................24

 2.5.4 Classification of risks.......................................................................................26

 2.6 Overview of Risks Management .......................................................................28 

2.6.1 Risk Management Process...............................................................................29

 2.6.2 Construction risk management approach-Conceptual Model..........................32

 2.7 Contributory Risk Factors in Nigeria ..................................................................44

 2.7.2 Internal Risk Factors in Nigeria .......................................................................47

 2.8 Conclusion.........................................................................................................48 

2.9 Chapter summary................................................................................................48 

Chapter THREE

 3.1 Introduction .......................................................................................................49 

3.2 Research Strategy .............................................................................................49 

3.3 Research design ................................................................................................50 

3.4 Research population ...........................................................................................50 

3.5 Sample Size .......................................................................................................51 

3.6 Sample method ...................................................................................................52 

3.7 Limitation of the research....................................................................................52 

3.8 Questionnaire design ..........................................................................................53 

3.9 Data collection.....................................................................................................53 

3.10 Data analysis.....................................................................................................54 

2.6 Chapter Summary..............................................................................................55

Chapter FOUR

4.1 Introduction .........................................................................................................56 

4.2 Organization Profile of Respondents...................................................................56 

4.3 Risk Factors Identification and Severity ..............................................................58 

4.3.1 Identified Risk Factors .....................................................................................58 

4.3.2 Severity of Identified Risk Factors on Construction Projects..........................63

 4.3.3 Overall risk significance ..................................................................................71

 4.4 Risk Management Practices of Ghanaian Contractors .....................................72 

4.4.1 Preventive Risk Management Actions.............................................................72

 4.4.2 Remedial Risk Management Method (Actions) ..............................................74

 4.4.3 Risk Analysis Technique .................................................................................75

 4.5 Chapter Summary................................................................................................76

Chapter FIVE

 SUMMARY, CONCLUSION AND RECOMMENDATION .......................................77 

5.1 Introduction ........................................................................................................77 

5.2. Summary of Findings.........................................................................................77 

5.2.1 Identify risk factors that typically affect construction projects in Nigeria ........77

 5.2.2 Assess the severity of the identified risks on projects .....................................78

 5.2.3 Examine the risk management techniques that are being practiced...............78 

5.3 Conclusion............................................................................................................79

 5.4 Recommendation.................................................................................................80

 REFERENCES .......................................................................................................82 

APPENDIX – QUESTIONNAIRE..............................................................................95