EFFECT OF RISK EVALUATION PRACTICES ON THE PERFORMANCE OF CONSTRUCTION FIRMS IN NAIROBI COUNTY, KENYA

Joseph Mberia, Mongare Omare, Ezra Ronoh

Abstract


This study investigated the effect of risk evaluation practices on the performance of construction firms in Nairobi County, Kenya. Specifically, it examined the impact of risk assessment likelihood, impact evaluation, risk prioritization, quantitative evaluation methods, and regular risk reviews on firm performance. The research employed a descriptive research design with a sample size of 222 construction industry professionals, determined using the Taro Yamane formula. Data was collected through structured questionnaires and analyzed using descriptive statistics and multiple linear regression analysis. The findings revealed a moderate positive correlation between risk evaluation practices and construction firm performance, with risk evaluation practices explaining 15.2% of the variance in firm performance (β = 0.152, p = 0.050). The study found that aspects such as impact evaluation, risk prioritization, and regular reviews significantly contribute to firm performance. However, the research highlighted areas of concern, particularly in the adoption of quantitative evaluation methods. The study concludes that implementing comprehensive risk evaluation policies can significantly enhance firm performance among construction companies. These findings contribute to the growing body of literature on risk management and firm performance in the construction industries, particularly in the Kenyan context.

 

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risk evaluation, construction firm performance, risk assessment, construction industry, Nairobi County

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DOI: http://dx.doi.org/10.46827/ejmms.v10i1.1995

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