Nwabueze, E. U.
Department of Business Administration, Faculty of dministration, Rivers State University, Nkpolu-Oroworukwo, Port Harcourt, Nigeria
Email: emmanwabuma@gmail.com
and
Bagshaw, K. B.
Department of Business Administration, Faculty of dministration, Rivers State University, Nkpolu-Oroworukwo, Port Harcourt, Nigeria
Email: bagshaw.karibo@ust.edu.ng
ABSTRACT
The study examined the relationship between risk identification and project performance of real estate firms in Rivers State, Nigeria. The measures of project performance used are cost performance, quality performance and time performance. The study adopted a cross-sectional survey research design. The target population was the 23 real estate firms in Rivers State as obtained from the updated directory of finelib.com. However, the study elements were 69 which comprised managers from real estate firms. The study adopted a census sampling technique since the population of the study was relatively small. Data for the study was collected through a structured questionnaire, while the four-point Likert scale was used to measure the responses from the respondents. Data was analysed using mean and standard deviations with charts for the primary analysis of the study variables, while inferential statistics such as the Spearman’s Rank Order Correlation Coefficient Statistics technique was used to test the hypotheses with the aid of Statistical Package for Social Sciences version 27. The results of the study showed that there is a significant positive relationship between risk identification and the measures of project performance. The study concludes that risk identification has a strong relationship with project performance of real estate firms in Rivers State, Nigeria. The study therefore recommends amongst others that Real estate firms should establish a structured risk identification framework at the project initiation phase to uncover potential financial risks such as cost escalation, currency fluctuations, and material price volatility.
Keywords: Cost performance, project performance, quality performance, risk identification, time performance
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