Assessing Risks in Construction Joint Ventures in Ghana: A Case Study of Selected Construction Companies in Volta Region, Ghana.
No Thumbnail Available
Date
2018-11-01
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
KNUST
Abstract
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.
Description
A Dissertation submitted to the Department of Construction Technology and Management, Kwame Nkrumah University of Science and Technology in partial fulfilment of the requirements for the degree of Master of Science Construction Management, November, 2018.