College of Art and Built Environment

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    Exploring Project Risk Management Practices of Ghanaian Building Contractors.
    (KNUST, 2018-11-01) Boateng Okyere Wilson
    Risk management concept has been on the top of current research in the construction industry lately. Project managers are mostly concerned and being tagged to manage risks on the construction site. Hence, the gap in literature led to the aim of this study which is to explore project risk management practices of Ghanaian building contractors. Adopting quantitative research approach and purposive sampling technique, the targeted audience was sampled. The data obtained was analysed using Statistical Package for Social Science (SPSS) and Microsoft Excel 2016. After sending 52 questionnaires out, 41 of them were retrieved representing 78.5% response rate. The variables were strategically analysed using Relative Importance Index and descriptive statistics. After analysis, it was identified that financial risks are the highest identified risk with construction projects in Ghana, while legal risk was the least identified risk in construction projects. Effects of risk on construction projects were also identified to encompass making better decisions based on accurate information and risk enables contracts to be fairly negotiated, bids to be submitted at the right price, and sensitivity to be appreciated. More so, the study also identified referring to previous and ongoing similar projects for accurate, producing a proper schedule by getting updated project information as the best strategies for managing risk on construction sites. The study recommended that there should be training of the stakeholders in the construction industry towards risk and its management and also contractors should look at integration of various expert risk management system with other schedules and systems they are already operating.
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    Assessing Risks in Construction Joint Ventures in Ghana: A Case Study of Selected Construction Companies in Volta Region, Ghana.
    (KNUST, 2018-11-01) Fudzi Frank Kwame
    Building thorough risk management strategies for construction project in joint venture operation ultimately benefits both the local contractors and the foreign partners. It becomes much more essential when considering public supplies due inherit nature of risk currently impacting of most of Assembly projects. This study was undertaken to assess risks that in international construction joint venture encounter on projects in Volta Region, Ghana. A case study considers Kpando and Ho Municipal Assemblies where joint venture as risk mitigating mechanism in the municipalities are new. The research methodology used descriptive statistics using Kruskal- Wallis nonparametric group alternative analysis, which compares more than one means or groups to obtain the p-values and mean values. The cut-off point of 5.00 for mean and median marks as well as p=0.005 were set and considered based on five-point Likert scale designed. It was found from the study that risk such as technical risk, managerial risks, market risks legal risks and political risks were rated very high It was concluded from the study that risk is an inherit dieases which is prevalent in construction project supplies. It affects Joint venture construction implementation process requiring effective and efficient identification, qualifiacation as well as risk response strategies to mitigate the impact. It was recommended that partners in joint venture should consider effective risk management strtategies through the uses of both“PMI general standardized approach” and “Fuzzy AHP approach”. That proper accounting principles are adopted by local contractors which improve on creditworthiness of host partners, whiles municipal bonds are provided for the local partners to attract foreign contractors in order for local contractors to compete favorably.
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    The Impact of Information Technology Projects on the Financial Performance of Banks in Ghana: Case Study of MGI Investment Ltd.
    (KNUST, 2018-11-01) Akenten Oti Akwasi
    Information and communication technology has for the last two decades become very popular with major commercial banks in Ghana. Currently, Microfinance and micro investment banks in Ghana have also computerized and networked their operations. The support from Bank of Ghana, has helped embark on nationwide computerization of all the Microfinance banks in Ghana. This study aims to assess the impact of information technology on the financial performance of MGI Investment Bank in the Ashanti Region. Views of the top management of the microfinance bank, branch managers, employees and customers were obtained using a survey method. In all 180 people were sampled from MGI Investment Bank. The study used primary data and secondary data. Questionnaires were used to collect data randomly from the customers and staff of the Bank. Two types of questionnaires were prepared and distributed among employees and subscribers of the bank. Both semi-structured and 5-point Likert scale questionnaire were developed. Data analysis was done using descriptive statistics approach. The results obtained show that, information technology has had positive impact on the financial performance of microfinance banks. The study concludes that information technology has a positive impact on the reputation, goodwill and advancement of MGI Investment bank. The study recommends that subscribers should be also taken into consideration by Microfinance banks while prioritizing information technology. It is very important to set the needs and expectations of subscribers while launching any Information Technology Project
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    Cost Management Practices on Large Building Projects: A Case Study of the Association of African Universities Secretariat Building Project in Accra
    (KNUST, 2017-11-01) Aggrey Isaac
    Cost management system has been considered as an important tool in controlling cost of a project and keeping it within the pre-determined budget. In the case of large building projects, cost management is critical due to the high uncertainties surrounding such projects. The cost management practices of construction firms for large building projects and the challenges associated with them was examine. A case study of the Association of African Universities Secretariat Building Project in Accra was used. Face to face structured interview was held with the key professionals namely the Project manager, Construction manager, Site supervisor, Quantity surveyor, Architect, Civil engineer and the Risk manager who are involved in managing the cost of the project. The data collected was analyzed using content analysis. From the study, it was found that cost management on large building projects starts as earlier as the design/planning stage of the project. The techniques and tool used by firms to manage project cost include: estimating, cost planning and control, budgeting, cash flow forecasting, cost reporting and cost code system. These techniques are used together to support the overall project cost management. The challenges associated with managing cost on large building projects include: frequent variations/changes made to the scope, specification etc. of the project during the construction stage; Poor communication and coordination among project parties; lack of coordination between project processes and the need to manage large cost data create difficulties for the cost management on large building projects. It was recommended that frequent changes/variations in project scope and specifications during the construction stage should be avoided. Moreover, Information and Communication Technology should be utilized for information sharing to enhance communication and coordination. The used of computerized systems for data storage and handling is also encouraged.
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    The Influence of Stakeholders on Project’s Professional Team Selection: A Study of Their Influence on Project Performance in Ghana.
    (KNUST, 2017-11-01) Akpalu James
    It is well known to the organizations howstakeholders‟ management is conducted has great impact on project outcome. Stakeholder can be defined as “any group or individual who is in favor of project stakeholders to achieve the project‟s objectives. Certain stakeholders such as external factors, timing, change orders, cost issues project characteristic and client resources‟ have a lot of influence on project managers ability to select project professional team to deliver quality project. All this leading to complexity and uncertainty of construction project, in order to solve these problems and deliver quality projects, project managers need to understand factor that leading to stakeholders influencein Ghanaian construction industry. Through data collection and analysis, this research intended to do just that. In conducting the survey, data were collected from the contractors within the Greater Accra metropolitan assembly. The data were analyzed using frequencies and relative importance index. The analysis indicated that most of the respondents were of the view that their firms attach high level of importance to external factors and Critical success factors influence stakeholders management,stakeholders assessment was most important. Also it was deduced that out of the various approaches of engaging stakeholders in a construction project, professional service was the most important.Finally, it was gathered that among the various stakeholders‟ management method or response strategies, adaptation strategy was the most important. The results identified six significant stakeholderinfluenceson selection project professional team, as external factors management, time management, project characteristic and client resources management, change order management, cost management andexternal factors management was the most important.