Impact of Applying Risk Management Strategies on Construction Project Performance

Abstract

Risk management plays a crucial role in improving construction project performance, particularly in reducing schedule delays and enhancing overall project efficiency. This study aims to examine the impact of applying risk management practices on construction project performance. The study adopted a descriptive analytical approach using a structured questionnaire as the primary data collection instrument. The study population consisted of 100 participants working in construction projects, from which a total sample of 80 respondents was obtained, with 70 valid responses used for statistical analysis. The collected data were analyzed using the statistical package for social sciences (SPSS). The findings revealed a statistically significant relationship between the level of risk management implementation and construction project performance, particularly in terms of adherence to project schedules. The results also indicate that effective risk management practices contribute to improving project outcomes through better identification, assessment, response, and monitoring of risks. The study concludes that integrating systematic risk management procedures within construction project management can significantly enhance project performance and reduce delays.