ASSESSMENT OF PROJECT RISK MANAGEMENT PRACTICE IN REAL ESTATE CONSTRUCTION IN ADDIS ABABA

Abstract

The study entitled as Assessment of Project Risk Management Practice in Real Estate Construction in Addis Ababa was written with a general objective of assessing risk management practices among selected real estate projects. In order to achieve this objective, the researcher collected data from three selected real estate companies in Addis Ababa. This data was collected through In-depth interview and self-administered questionnaire. During the data collection, the participants of the study were project managers, coordinators and project team members of the selected real estate companies. The collected data from these study participants was analyzed using descriptive, thematic and narrative analysis methods. Using the above listed methods, the researcher found out that risk management is practiced effectively. Risk is planned in advance, where cause and effects are assessed in a methodical way. The study also reported that even though there is no training to develop employee’s knowledge regarding risk, the awareness towards risk and management is good. The selected companies also use different techniques such as assignation of person and departments, standard definition of risk and risk management process and preparing guidelines to manage risk. Based on these findings, the researcher recommended provision of trainings to employees to increase their awareness regarding risk.. It was also recommended that it would be better if other researches conduct similar study using many real estate companies.