RISK MANAGEMENT OF OVER HEAD BRIDGE IN EKITI STATE

The construction industry operates in a very uncertain environment where conditions can change due to the complexity of each project. The study aims to identify the risks involved in construction of overhead bridge in Ekiti State,evaluate the effects of the risks involved in construction of overhead bridges in Ekiti state and Propose strategies for mitigating the risk associated with the overhead bridge in Ekiti State in the study area. Structured questionnaires were administered and the methodology used for the data analysis and presentation is RII (Relative Important index), and mean ranking. In terms of the most important and influential predictors, respondents are of the view that financial risk, construction risk and Design team-related risk are one of the major risk associated with the construction of overhead bridge in Ekiti State.Cost overrun, project abandonment and Delay are one of the major effect while Risk management, risk identification and risk analysis are one of the major strategic solution to risk involved in the construction of overhead bridges in Ekiti state.The study also recommends that qualified professionals be involved in construction activities in Nigeria. Quackery should be discouraged. A risk management expert should be involved at different work stages of the constructionA risk management approach to procurement process should be adopted while risk management database should be established. This will minimize or completely eliminate the threat posed by risk factors. Government regulations should limit the participation of contractors to their capacity. The categories of contractors should be taken serious and assessment should be based on factors listed above and financial strength. Government should propagate rules and regulations that would promote merger of firms, acquisition of weaker firms and consolidation of firms’ financial base.