Risk Management and Performance of Construction Projects in Hargeisa, Somaliland

Mustafe Farah, Ambrose Kyalo Kaumbulu and Abdiaziz Bashiir
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Mustafe Farah: School of Business, Amoud University, Hargeisa, Somaliland.
Ambrose Kyalo Kaumbulu: School of Business, Amoud University, Hargeisa, Somaliland.
Abdiaziz Bashiir: School of Business, Amoud University, Hargeisa, Somaliland.

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Abstract: There are so various factors that affect the performance of construction projects in the developing countries, Somaliland being among them. Success of the constructions any projects depends on its performance. For a project to be successful it should be completed on time within budget and the quality acceptable by all who it may concern. As shown from previous studies that the failure of any project is mainly related to the problems and failure in performance. For instance, in Somaliland many construction projects have experienced performance challenges. This led to enquiry for empirical justification in the Somaliland context to determine the effect of risk management on performance of construction projects. Hence this study examined the effect of the risk management on performance of construction projects in Hargeisa from a survey of 30 respondents. Descriptive and inferential analysis were conducted on data collected from 30 respondents, and the results of the data analysed were presented in tables and figures. The result showed that the effect of risk management on performance of construction projects was significant. In the initial phase of the analysis, the independent variable (risk management) was added to the first model. The regression's findings showed that the risk management: β = 0.252, t 5.344, p-value: 0.004, R:0.296, R2:0.285. The results of the study shows that better risk management enhances the performance of construction projects in Hargeisa, Somaliland. Therefore, the study recommends that risk management should be established in all aspects of projects to enhance its success.

Date: 2023-12-05
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Published in Asian Journal of Economics, Finance and Management , 2023, 5 (1), pp.419-425

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05593329

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