FACTORS INFLUENCING THE EFFECTIVENESS OF RISK MANAGEMENT IN HOUSING PROJECTS PROCURED WITH SELECTED METHODS IN AKWA IBOM STATE

Purpose: The awareness and insight of the factors influencing risk management is essential in the effective management of projects delivered with any procurement method. The study aimed at providing insight into how several factors influence the effectiveness of risk management practices of housing projects procured by traditional, direct labour and, labour only methods with a view to enhancing construction projects delivery in Akwa Ibom State.Design/methodology/approach: A cross-sectional survey approach was used for the study. Ninety-nine (99) copies of questionnaire were retrieved from purposively selected representatives of construction firms operating in the study area. Twenty-five factors were identified from literature and presented for respondents’ assessment. Data collected were analysed using relative influence index, while Kruskal Wallis was used to test the hypothesis.Findings: It has been established that the five most important factors influencing the effectiveness of risks management in traditional, direct labour and labour-only procurement methods are; timing, environmental factors, funds allocation for risk exercise, complexity and top management support. The result also shows that 4.0% of the whole factors has very high influence, 60% have high influence, while 36% of the evaluated factors have moderate influence on the effectiveness of the procurement methods, with all the methods exhibiting similar influence.Research limitations/implications: The limitations include the use of only the perception of purposively selected representatives of construction firm in Akwa Ibom state and only selected procurement methods. The contribution to knowledge is that this study has established the current level of effectiveness of risk management in some procurement methods in the study area.Practical implications: It is recommended that that advanced formal and informal training in risk management and prioritization of the control of the factors influencing their effectiveness should be regularly conducted among the stakeholders involved in the delivery of housing projects in the study area. Originality/value: The study revealed the level of influence which the identified risk factors have on the management of risks in of housing projects procured with different methods, as well as the variations among the factors in the procurement methods.