Study on factors affecting management of risk and performance of construction projects in Tamil Nadu
- Vol.37(4), Oct-Dec
- Pune NICMAR 2022
- 62-75p.
The construction industry is one of the most challenging and dynamic industries in Tamil Nadu. This industry is different from other industries due to its unique and complex features. This research study aims to identify the various factors affecting the management of risk and the performance of construction projects. Influencing factors include the respondents' business profile and profit margin; the relationship between education and experience level; critical risk opinion with regard to the organisation type; the relationship between risk management practises and profit margin; and the analysis of variance between risk management practises and risk ownership, as well as the correlation between key performance indicators. The primary data was collected from 105 respondents. This research study has been carried out in Tamil Nadu, the southern state of India. The respondents were selected through a random sampling method. The results reveal that there are no negative correlations between the key performance indicators of the construction projects and a very high degree of positive correlation between risk management practices, quality of work and products, on-time delivery, performance improvement, and profitability. Furthermore, it shows that factors like risk ownership and risk management practises will help to improve the key performance indicators, and other factors such as experience level, education level, profit margin, risk awareness, and type of organisation also influence the management of risk and performance of the construction project in Tamil Nadu. The scope for further research on this topic may be to identify the specific risks pertaining to the organisation type and differences in risk management practise with respect to organisation size, business profile, etc. The results of this research study may be limited to the study region; they may vary from region to region and country to country as a result of the limitations of this research study.