This paper, which is part of a wider study on risk management practices in Nigeria, is aimed at evaluating the barriers limiting implementation of risk management techniques in real estate development projects.
This paper employed an explanatory sequential mixed-methods design to rate and categorise 24 barriers affecting the implementation of risk management techniques by real estate development companies across the six geopolitical zones of Nigeria. While 250 survey questionnaires were sent to development companies registered with REDAN, oral interviews were conducted with 13 purposively selected developers. Quantitative data were analysed using descriptive statistics and Principal Component Analysis (PCA); while the qualitative data were analysed using the thematic approach. Out of the 250 questionnaires distributed, 84 were correctly filled and returned giving a response rate of 33.6%.
Descriptive statistics showed that the most critical barrier is the degree of sophistication involved in using certain techniques, with 23 out of 24 identified barriers rated as significant. Using PCA, the barriers were clustered into six core components: organisational/skill-related challenges, technical issues, lack of management support, institutional lapses, resistance to change and the complexity of advanced techniques. The qualitative findings validated most of the quantitative results.
Addressing these barriers is essential not only for enhancing risk preparedness but also for improving project delivery outcomes such as cost control, time efficiency and stakeholder confidence.
This is the first study to thoroughly evaluate barriers to risk management implementation across the six geopolitical zones of Nigeria.
