Risk management practices of construction projects in the mining sector
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Date
2021-06-28
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Abstract
In Ghana the importance of mining in the economy cannot be underestimated. Mining, especially
gold mining, started several centuries before the arrival of the white man and during the colonial
period the country was named “Gold Coast” to reflect such an importance. The aim of this thesis
is to explore risk management practices of construction projects in the mining sector with three
objectives being: To establish the critical risk factors associated with construction projects in the
mining sector; To ascertain the risk mitigating factors attendant with construction projects in the
mining sector; and to explore risk management practices of construction projects in the mining
sector. Quantitative research method was adopted in which survey questionnaires were
administered to respondents to gather primary data. Descriptive and Inferential analysis was
conducted. Descriptive tools included standard deviation, mean scores, percentages and
frequencies. One-Sample T-test and Relative Important Index was the inferential analytical
techniques that were adopted. The findings of the research indicated that: Unavailability and
accuracy of preliminary geo-scientific information; Instability of foreign currency exchange rate;
High Inflation rate; Unstable and unpredictable fiscal regime; and fraud were critical risk factors
associated with construction projects in the mining sector. It was recommended that construction
project risk management stakeholders in mining industry ensures regular review and updating of
risk management systems. Moreover, mining companies should take creative and innovative
approaches to access new talents through training and education programs and retain existing
skilled workers
Description
A thesis submitted to the Department of Construction Technology and Management, Kwame Nkrumah University of Science and Technology, Kumasi in partial fulfillment of the requirement for the Award Degree of Master of Science in Project Management.
Keywords
Risk management, Risk Management Practices, Construction Project, Mining Sector