TY - JOUR
T1 - Risk resources management influence on public–private partnership risk management in construction industry. Confirmatory factor analysis approach
AU - Adu Gyamfi, Timothy
AU - Aigbavboa, Clinton Ohis
AU - Thwala, Wellington Didibhuku
N1 - Publisher Copyright:
© 2022, Emerald Publishing Limited.
PY - 2024/8/16
Y1 - 2024/8/16
N2 - Purpose: Construction organisations cannot underestimate the improvement in public–private partnership (PPP) projects’ implementation. At the same time, construction organisations cannot overlook the risk arising from engaging in PPP construction projects. Hence, this study aims to establish the influence of risk resource management (RRM) in managing PPP risk in the construction industry in Ghana. Design/methodology/approach: The researchers adopted qualitative and quantitative research methods to achieve the aim of the study, in which Delphi questions and a close-ended questionnaire were developed. A total of 650 construction specialists, including procurement officers, consultants, project managers, quantity surveyors, site engineers and planning officers were chosen using random and purposive sampling techniques. Recovered data were analysed using descriptive statistics and confirmatory factor analysis (CFA). The CFA maximum likelihood estimation extractor compresses 19 variables into 3 pattern matrices. Findings: The results of the study revealed three factors that measure RRM in Ghana’s PPP construction industry, including financial resource management which was influenced by communicating the budget to project team members and project partners understanding the budget, and material resource management which was influenced by the provision of materials transportation and provision of delivery programs and labour resource management which was impacted by a commitment to pay social security and taxes and provision of good salaries, to address RRM in PPP construction organisations. Research limitations/implications: To incessantly improve the PPP risk management (RM) in construction through RRM, there should be a strong liaison between the universities, government agencies and the construction industry, and such collaboration will assist the industry to obtain first-hand information regarding the study findings and how they can be implemented to help the development of RM in the construction industry. This study is limited to Ghana and CFA and further study should explore structural equation model to determine the structure and measurement model of the risk resource variables. Originality/value: The study may be valuable to industry stakeholders looking for new approaches to improve RM in their construction activities, particularly in PPP projects. Also, to assist reduce PPP risk, construction companies should use RRM in their organisations.
AB - Purpose: Construction organisations cannot underestimate the improvement in public–private partnership (PPP) projects’ implementation. At the same time, construction organisations cannot overlook the risk arising from engaging in PPP construction projects. Hence, this study aims to establish the influence of risk resource management (RRM) in managing PPP risk in the construction industry in Ghana. Design/methodology/approach: The researchers adopted qualitative and quantitative research methods to achieve the aim of the study, in which Delphi questions and a close-ended questionnaire were developed. A total of 650 construction specialists, including procurement officers, consultants, project managers, quantity surveyors, site engineers and planning officers were chosen using random and purposive sampling techniques. Recovered data were analysed using descriptive statistics and confirmatory factor analysis (CFA). The CFA maximum likelihood estimation extractor compresses 19 variables into 3 pattern matrices. Findings: The results of the study revealed three factors that measure RRM in Ghana’s PPP construction industry, including financial resource management which was influenced by communicating the budget to project team members and project partners understanding the budget, and material resource management which was influenced by the provision of materials transportation and provision of delivery programs and labour resource management which was impacted by a commitment to pay social security and taxes and provision of good salaries, to address RRM in PPP construction organisations. Research limitations/implications: To incessantly improve the PPP risk management (RM) in construction through RRM, there should be a strong liaison between the universities, government agencies and the construction industry, and such collaboration will assist the industry to obtain first-hand information regarding the study findings and how they can be implemented to help the development of RM in the construction industry. This study is limited to Ghana and CFA and further study should explore structural equation model to determine the structure and measurement model of the risk resource variables. Originality/value: The study may be valuable to industry stakeholders looking for new approaches to improve RM in their construction activities, particularly in PPP projects. Also, to assist reduce PPP risk, construction companies should use RRM in their organisations.
KW - CFA
KW - Construction industry
KW - Ghana
KW - PPP risk management
KW - Risk resource management
UR - http://www.scopus.com/inward/record.url?scp=85143984911&partnerID=8YFLogxK
U2 - 10.1108/JEDT-12-2021-0699
DO - 10.1108/JEDT-12-2021-0699
M3 - Article
AN - SCOPUS:85143984911
SN - 1726-0531
VL - 22
SP - 1544
EP - 1569
JO - Journal of Engineering, Design and Technology
JF - Journal of Engineering, Design and Technology
IS - 5
ER -