ASSESSING THE PRACTICES OF CONSTRUCTION PROJECT RISK MANAGEMENT: CASE STUDY OF GRAND ETHIOPIA RENAISSANCE DAM

Abstract

Risk as a threat that can affect success of projects if not addressed well. Risk management is a key part of project management for any project size. Although there is high importance of risk management to the success of construction projects, the adoption of these risk management methods in practice is in consistent. The main objective of the study was to describe the practice of project risk management practices in GERD Project. The scope of the study was limited to the extent of assessing, evaluating, analyzing, describing and identifying project risk management practices in GERD Project. The research was bounded by time and categorized under cross-sectional type. The design was descriptive, the sampling technique was purposive. Data had been collected through semi structured interview; closed ended questionnaire and document analysis. The respondents were comprised of project manager, project team, and experts of project management office. The quantitative data was analyzed statistically using Statistical Package for Social Sciences and the qualitative data was analyzed by relating the results with literatures. In addition, reliability and validity have also been taken into consideration. The main findings revealed that risk identification, qualitative risk analysis, monitoring and control were goodly practiced. While, the practice of quantitative risk analysis and risk response was fair.Whereas, the practice of risk planning was poor. As a recommendation, it is better the GERD construction looking into best practices to apply standard project risk management processes, tools and techniques in future projects in order to achieve projects’ objective successfully.