ASSESSMENT OF RISK MANAGEMENT PRACTICES IN CONDOMINIUM CONSTRUCTION PROJECTS IN ADDIS ABABA – THE CASE OF KOYE FETCHE PROJECT 11/18

Abstract

This study explained the concept of risk management in condominium projects in Addis Ababa, specifically in Koye Fetche project 11/18. The overall objective of the research was to investigate the risk management practices applied in the project. Significance of the study is aimed to give an insight of the handicaps of implementing risk management practices through the project life. Diverse literatures were reviewed theoretically and empirically to discuss what was meant by risk in construction projects. The research area of the study was chosen at Addis Ababa Akaki Kality sub city woreda 09 where most of the target population was found. Descriptive model was taken to as a method of research. Primary and secondary data was used in the study. Data collected mainly by questionnaire, interview, and focus group discussion. The questionnaire is addressed to 122 participants and replied by 84 respondents. The same 122 participants are selected as target population of the interview 33 respondents participated in the interview. The data obtained questionnaire was analyzed qualitatively using SPSS version 24 in order to rank areas of risk and descriptive analysis was also applied to weigh the variables. Generally participants are involved in different levels of construction from inception to final acceptance stage and different areas of construction. Some participants of the study are not directly involved in the construction but the issue raised touched them. The major findings of the study showed that the level of understanding of risk was in a lower level and risk management practices are missing in the project. In addition, absence of risk management plan, poor recognition of risk and inadequacy of the emphasis given to supervision were found to be risks in the project. Based on the result, the study answers the research questions in the conclusion part of the paper and consequently put the corresponding recommendations for the conclusions reached.