Risk evaluation in project management implementation: The case of infrastructural development projects

Risk plays an important role in the success of infrastructure projects. In managing risk, the identification of risk factors is critical. This paper evaluates the impact of human, organizational and technological risk factors on infrastructure projects. A survey on how well risk factors and risk management/mitigation predict project performance was carried out. The results of the survey were analyzed through statistical analysis techniques namely, exploratory factor analysis, correlation and multiple regression. The correlation result showed a high positive correlation between risk management and risk mitigation. This correlation is likely to occur because if risk is better managed, positive results of risk mitigation will be higher. Hierarchical multiple regression explored the ability of the human, organizational and technology factors, risk management and risk mitigation to predict the project performance time factor. Risk mitigation appeared to be a strong predictor of performance. This result proves that risk mitigation does influence project performance.