Risk Analysis of Procurement Options: Implications for Construction Firms in Ghana
Keywords:
Construction management, risk analysis, risk management, procurement.Abstract
In Ghana, procurements risks have led to the liquidation of construction firms. It is therefore important for the construction firms in Ghana to align analysis of risks with procurement options in order to reduce losses and avoid liquidation. In view of this, the study investigates risk analysis of procurement options employed by construction firms in Ghana. The study was conducted within the Ashanti Region of Ghana primarily to identify the risks posed to the various procurement options. Statistically, there are at least 38 construction firms located within the Ashanti Region. In all, a sample frame of 60 participants was drawn for the study. The two main risks identified in the study to be posed to the various procurement options adopted by construction firm in the Ashanti Region of Ghana included economic risks and technological risks. Conclusively, the corroborative evidence between risk analysis and procurement options in Ghanaian construction firms is not promising.
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