Pinpointing project pitfalls: a study of critical risk factors in building construction projects in Sri Lanka

Abstract

The design phase of a construction project sets the layout for the entire endeavour but is prone to different risks. Identifying the impact of such risks may help manage them properly and achieve project objectives. The research aims to determine the effect of risk factors on the performance of building construction projects in Sri Lanka. Identification of risks and their impact was accomplished by administering a questionnaire survey and adopting the quantitative approach. The data analysis contained 42 professional insights based on experience in the design stage of building construction projects. Using a Likert scale analysis, the data was analysed employing descriptive statistical tools such as weighted averages, percentage counts, to name a few. The research findings revealed the existence of design, legal, construction, environmental, financial, management, and political risks during the design stage. The design team faces frequent legal and design risks, notably from insufficient drawings and insolvency issues. Most risks moderately affect time, cost, and quality, except for future budget considerations, which significantly impact cost parameters in Sri Lankan building projects. This study emphasises the need for a keen awareness of risks associated with the design stage to streamline the project with the set project parameters: time, cost, and quality. It sets a parameter for project practitioners engaged in the design stage of building construction projects in Sri Lanka, the level of attention they should pay to risk factors to be within the set parameters of the project.