Ikuabe, M; Aigbavboa, C; Thwala, W; Chiyangwa, D and Oke, A (2023) Risks of joint venture formation in the South African construction industry. International Journal of Construction Management, 23(14), pp. 2391-2399. ISSN 1562-3599
Abstract
The global expansion of construction joint ventures (JVs) signifies the drive to proffer solutions to some of the challenges confronting the delivery of projects in the construction industry. However, irrespective of the potential benefits resulting from JV formation for construction project delivery, it is yet associated with risks that possess significant threats to the actualisation of enhanced and effective construction project management. Therefore, this study assessed the risks characterising the formation of JVs in the South African construction industry. Quantitative data was collected from construction professionals in Gauteng province of South Africa. Data analysis was carried out using a 4-stage process which included data reliability and validity, descriptive statistics, one sample t-test and exploratory factor analysis. Findings from the study indicated a 6-pronged cluster of risks associated with JV formation in the South African construction industry. The contribution made by the study to the body of knowledge is that the findings will help stakeholders in the construction industry to be fully equipped with the requisite knowledge of the inherent risks attributed to JV formation. Thus, providing a basis for how best the identified risks can be abated, mitigated or avoided.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | joint venture; project success; risk; South Africa |
| Index terms: | South Africa, body of knowledge, construction project delivery, exploratory factor analysis, data analysis, statistics, construction industry, construction professional, construction project management, validity, joint venture, project success |
| Subjects: | project controls, statistical analysis, industry analysis, project management theory and practice, professional development, Geography, data analysis and analytics, knowledge management, mathematical modelling, business, evaluation and assessment methods |
| Topics: | Business Strategy, Information Management, Research Practice, Project Management, Geographical Context, Time Control |
| Descriptive scope: | 4 PCTA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here