RISK FINANCING TECHNIQUES AND PROJECT SUCCESS AMONG BUILDING CONSTRUCTION FIRMS IN LAGOS STATE, NIGERIA.

Abstract

The construction industry is veritable sectors of nation’s economy that assist in the provision of infrastructural development and its activities have positive effects on every other sector of the economy. This study examines the relationship between risk transfer and retentions strategies, cash flows management and building project outcomes in the construction industry. Systematic literature review method was adopted to identify and evaluate relevant articles about risk financing in project management within the construction industry. The study adopts cross sectional and survey research design. Purposive sampling method was adopted while questionnaire was used to harvest the relevant data. Correlation coefficient from ANOVA method of analysis was used to test the robustness of risk transfer and retentions strategies, cash flows management and building project outcomes in the construction industry in Lagos State. The study shows a positive correlation value of 0.893 between risk transfer and retention strategies and project success while a low positive correlation value of 0.117 between cash flow management and building projects. This low correlation attests to poor cash flows management in the construction industry.  The research emphasizes the need for regulatory oversight and stakeholder collaboration in enhancing risk management practices. This is because an optimal risk management would mitigate poor cash flow management and other risk that may affect the operational activities of construction firms in Nigeria. This study recommends management frameworks to enhance the resilience and sustainability of construction projects in Nigeria.