Leveraging Capitalization for Enhanced Project Delivery in the Nigerian Construction Industry: A Sustainable Risk Management Approach

¹Nnadi, Ezekiel Ejiofor and ²Ugwu, Onuegbu Okonkwo

¹Civil Engineering Department, Kampala International University, Uganda

²Civil Engineering Department, FUNAI, Ebonyi State, Nigeria

Corresponding author: Nnadi, E.O.E nnadiezekiel@kiu.ac.ug

ABSTRACT

The Nigerian construction industry grapples with challenges such as low profit margins, cost overruns, and project abandonment, necessitating robust risk management strategies. This study investigates the impact of capitalization on sustainable risk management within large construction firms in Nigeria. Data from 198 firms were collected via questionnaires, interviews, and secondary sources, revealing significant benefits of capitalization including increased turnover, risk reduction, and improved image. The findings underscore the importance of integrating risk management evaluation into construction procurement processes to optimize project delivery. This research contributes to the discourse on sustainable development in the construction sector by advocating for strategic capitalization as a means of mitigating risks and enhancing project outcomes.

Keywords: Capitalization, project delivery, risks, risk management, sustainability

CITE AS: Nnadi, Ezekiel Ejiofor and Ugwu, Onuegbu Okonkwo (2024). Leveraging Capitalization for Enhanced Project Delivery in the Nigerian Construction Industry: A Sustainable Risk Management Approach. INOSR Scientific Research 11(2):7-15. https://doi.org/10.59298/INOSRSR/2024/1.1.11715