Risk Management Practices in Tanzania

Ayodeji E. Oke, Pelumi E. Adetoro, Seyi S. Stephen, Clinton O. Aigbavboa (), Lukman O. Oyewobi () and Douglas O. Aghimien
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Ayodeji E. Oke: Federal University of Technology Akure
Pelumi E. Adetoro: Malawi University of Business and Applied Sciences
Seyi S. Stephen: University of Johannesburg
Clinton O. Aigbavboa: University of Johannesburg
Lukman O. Oyewobi: Federal University of Technology Minna
Douglas O. Aghimien: De Mont Fort University

Chapter Chapter 8 in Risk Management Practices in Construction, 2023, pp 95-103 from Springer

Abstract: Abstract The economic importance of the construction industry in developing countries cannot be overstated due to the critical need for infrastructure development and housing. The Tanzanian construction industry accounts massively for the country’s economic development. This chapter gave an insight into what risk management practice entails in general. Also, it discussed the practice in the said country along with challenges, impediments, and other related subsections. The study concluded that there is a low level of adoption of risk management practices among the construction professionals of the country. The study stated that the reason for this is the fact that risk management is still in its early stages. The chapter recommended that training and further awareness should be encouraged to increase the level of adoption and implementation in projects.

Keywords: Construction industry; Project risk; Risk management; Risk mitigation; Risk practice; Sustainable construction (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-35557-8_8

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DOI: 10.1007/978-3-031-35557-8_8

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