Adu Gyamfi, T; Aigbavboa, C O and Thwala, W D (2024) Risk resources management influence on public-private partnership risk management in construction industry: Confirmatory factor analysis approach. Journal of Engineering, Design and Technology, 22(5), pp. 1544-1569. ISSN 1726-0531
Abstract
Purpose: Construction organisations cannot underestimate the improvement in public-private partnership (PPP) projects' implementation. At the same time, construction organisations cannot overlook the risk arising from engaging in PPP construction projects. Hence, this study aims to establish the influence of risk resource management (RRM) in managing PPP risk in the construction industry in Ghana. Design/methodology/approach: The researchers adopted qualitative and quantitative research methods to achieve the aim of the study, in which Delphi questions and a close-ended questionnaire were developed. A total of 650 construction specialists, including procurement officers, consultants, project managers, quantity surveyors, site engineers and planning officers were chosen using random and purposive sampling techniques. Recovered data were analysed using descriptive statistics and confirmatory factor analysis (CFA). The CFA maximum likelihood estimation extractor compresses 19 variables into 3 pattern matrices. Findings: The results of the study revealed three factors that measure RRM in Ghana’s PPP construction industry, including financial resource management which was influenced by communicating the budget to project team members and project partners understanding the budget, and material resource management which was influenced by the provision of materials transportation and provision of delivery programs and labour resource management which was impacted by a commitment to pay social security and taxes and provision of good salaries, to address RRM in PPP construction organisations. Research limitations/implications: To incessantly improve the PPP risk management (RM) in construction through RRM, there should be a strong liaison between the universities, government agencies and the construction industry, and such collaboration will assist the industry to obtain first-hand information regarding the study findings and how they can be implemented to help the development of RM in the construction industry. This study is limited to Ghana and CFA and further study should explore structural equation model to determine the structure and measurement model of the risk resource variables. Originality/value: The study may be valuable to industry stakeholders looking for new approaches to improve RM in their construction activities, particularly in PPP projects. Also, to assist reduce PPP risk, construction companies should use RRM in their organisations.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | confirmatory factor analysis; Ghana; public-private partnership; risk management; risk resource management; questionaire survey |
| Index terms: | partnership, engineer, construction activity, Ghana, estimation, quantity surveying, construction organization, quantitative research, project manager, statistics, purposive sampling, implementation, construction industry, planning officer, project team, resource management, labour resource, risk management, project partner, structural equation model, commitment, confirmatory factor analysis, survey, construction company, government agency, collaboration, construction project, program, methodology, questionnaire |
| Subjects: | financial and cost management, project delivery, data analysis and analytics, contractual arrangements, construction operations, psychology, control systems, mathematical modelling, organization, data collection methods, profession, risk assessment, statistical analysis, administrative law, industry analysis, sociology, partnership management, business economics, production management, Geography, research methods, software systems, management |
| Topics: | Organizational Design, Site Management, Legal Issues, Digital Applications, Procurement, Roles and Professions, Stakeholder Management, Risk Management, Project Management, Geographical Context, Research Practice, Business Strategy, Cost Management |
| Descriptive scope: | 5 PCTEA |
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