Abstract
The aim of this research was to assess and evaluate the methods used by South African construction companies when managing risks in their projects, to evaluate the effectiveness of risk management techniques in the South African construction industry, to identify the factors that influence risk management, to identify and evaluate the negative impacts that the project can undergo when risk management is not exercised, and lastly, to identify individuals responsible for the management of risk in construction firms. The data used in this study were derived from both primary and secondary sources. The secondary data were collected from a detailed review of related literature as detailed in the literature (chapters two - five. The primary data were collected through a structured questionnaire aimed at 108 South African contractors. Data received from the questionnaires were analysed using descriptive and multivarient statistics procedures.The empirical data have identified that risk management in the South Africa construction is mostly influenced and affected by the size of company, and the education and experience of construction managers. The study also revealed that the majority of South African contractors are aware of the risk management process and subsequently make use of the structured process for risk management.The study empirically explores risk management in the South African construction industry. This study presents a strong background on the theories of risk management usage by contractors in construction projects. This study recommends that a generic risk management system that is accessible to all South African construction companies in order to standardize risk management activities should be established.
M.Tech. (Construction Management)