Impact of Risk Management Practices on Project Success: A Comparative study of Conventional and BOT Projects in Pakistan

Abstract

With the growing demand of public infrastructure projects, it is necessary to clearly identify, evaluate and manage the risk associated with the project. The study of this thesis aims to identify and compare the best practices of risk management in build operate transfer projects and conventional projects. This approach also combines aspects of soft and hard skills. This methodological approach involves a literature review to underpin the conceptual framework and a survey to identify the best practices of risk management in build operate transfer projects and conventional projects in Pakistan by using structural survey form. It is a quantitative research. A self-administrated questionnaire comprising of two parts: closed ended questions were asked about gender, age, organization, service, employment type and project. Other variables taken and used within study are linked with 5 points likert scale so that the respondents could select them according to their experiences and attitude towards the variables. The data was analyzed based on sample survey forms collected from reputed companies of Pakistan such as NHA, FWO and NESPAK. The fieldwork involved interviews with project managers and the professionals working on build operate transfer and conventional projects. The total sample size comprises of 70 respondents and the sampling technique that is used is simple random sampling. Further-more data is analyzed by using independent sample t-test. The structural model presented herein provides a means for correlating the hard and soft sides of risk management understanding the best practices of risk management in build operate transfer and conventional projects in Pakistan. The results of the study reveal the best practices of risk management in conventional and BOT projects and its impact on the project success.