An appraisal of critical risk factors in construction projects in South Africa : perspective of contractors

Abstract: The significant impact of construction projects on a nation has been characterized in literature in terms of infrastructure development and job creation. These projects are nevertheless associated with various risks that need to be managed to ensure successful delivery. Hence, the identification of these risk factors is of utmost importance. Therefore, this study aimed at assessing contractors‘ perception of critical risk factors in construction projects in Gauteng (South Africa). Explorative and questionnaire survey methods were employed to obtain data from literature and construction professionals all practising in Gauteng. Results revealed that supply of faulty materials, poor communication between involved parties, financial failure of the contractor, working at dangerous areas and closure were the five critical risk factors in construction projects. It is obvious from the results that the knowledge of the identified critical risk factors furnishes invaluable information to the construction contractor concerning what risk variables to focus attention on in construction activities. The paper contributes to the identification of critical risk factors in construction projects from an objective point