Risk Management Methods and Performance of Construction Projects; A Case of Rwanda Education Board School Construction Project in Selected Districts
DOI:
https://doi.org/10.53819/81018102t5290Abstract
The purpose of the study was to assess the effect of risk management methods on the performance of construction projects, with a specific case study of Rwanda Education Board (REB) School Construction projects in selected districts. Construction projects are still facing the problems generated by little knowledge on methods to be applied while managing different types of risks. Those methods include namely, risk avoidance, risk control, risk retention and risk transfer. In order to explore those various types of risks, the study focused on four objectives: to examine the effect of risk avoidance, risk controls, risk retention and risk transfer on REB School construction project in selected Districts. The study focused on Rwanda Education Board construction projects, with a target population of 122. The researcher employed a descriptive research design and used a census technique to purposively select the entire target population of 122 as the study sample. Questionnaires were utilized as the data collection instrument and were distributed to the aforementioned respondents. The collected data was then analyzed using SPSS to calculate the mean, standard deviation, correlation, and conduct multiple regression analysis. The study found that risk avoidance, risk control, risk retention and risk transfer affect construction project. The results further showed a correlation coefficient (r) of 0.853 meaning that two variables were positively, strongly and perfectly correlated. The study concludes that risk management methods significantly influence project performance in terms of time, quality, and budget. Collaboration and information sharing between clients and contractors play a crucial role in project success, with the involvement of education officers and headmasters being essential for support. The research confirms a strong and positive correlation between risk management methods and project performance, as indicated by a Pearson Correlation Coefficient (r) above 0.8. The study recommends that all stakeholders should work closely hands in hands to ensure that risks are minimized or mitigated at the highest attainable rate. Again, all parties involved in the project should make regular sites supervision to check if the contractor is using resources allocated to him/her rationally to avoid excessive cost. Furthermore, all stakeholders should ensure that the construction work is carried out in compliance with the scheduled time and that the material used is genuine. And finally, while selecting the sub-contractor, in case of risk transfer, the client and the contractor have to consult each other in order to hire the consultant with the highest desirable competence. The study recommends that construction projects, particularly those managed by the Rwanda Education Board (REB) in selected districts, prioritize and implement comprehensive risk management strategies
Keywords: Risk Management Methods, Construction Projects, Rwanda Education Board School Construction, District.
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