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International Journal of Marketing & Financial Management

RELATIONSHIPS BETWEEN PROJECT RISK MANAGEMENT PRACTICES AND CLIENT SATISFACTION: AN EMPIRICAL STUDY

*Hammed, Olawale Gazal, **Shofoluwe, A, Musibau, ***Njogo, Bibiana

*Hammed, Olawale Gazal, Department of Management Technology, Faculty of Management Sciences, Lagos State University, OJO, Lagos Nigeria, ORCID: https://orcid.org/0000000349839916

**Shofoluwe, A, Musibau, Department of Built Environment, College of Science &Technology, North Carolina A & T State University Greensboro, NC27411, U.S.A, ORCIID; https://orcid.org/0000000207133581

***Njogo, Bibiana, Department of Management Accounting, College of Management Sciences, Bells University of Technology, Ota Ogun state, Nigeria, ORCID: https://orcid.org/000000322033500

DOI : https://doi.org/10.5281/zenodo.10900154 Page No : 46-57

Published Online : 2023-12-30

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ABSTRACT

Aim of the Study: This paper tends to evaluate the relationship between certain construction project risk management practices and client satisfaction.

Design/Methodology: Survey research design was adopted for this study with the aids of structured questionnaire, for collection of data from a stratified random sample of 46 project managers of the participating construction firms and 230 clients of those firms respectively, which are registered with Lagos Chamber of Commerce. Linear regression analysis was used for the data analysis.

Findings: The findings of the result revealed that, there was a significant relationship (R = 0.580; p<0.05) between project risk management practices and client satisfaction. From the findings

of the study, this study shows that incorporating those feedbacks, through checklist, mandatory and reporting forms as risk management process into organization planning process would enhance client satisfaction.

Practical Implications: The study recommended among others that Identification and management of risk should be part of an acceptable and functioning of quality and cost management strategy of the firm, based on the links between these variables as they complement each other.

Originality/value: The study has contributed to existing literatures by establishing significant relationships between project risk, and client satisfaction and further show the accounts in variation of clients’ satisfaction, when the practices are effectively managed.

Key words; Risk management Client satisfaction, Risk identification, Risk mitigation and Risk response

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Cite this Article as: Gazal O.H, Musibau S.A and Bibiana N (2023), “Relationships Between Project Risk Management Practices And Client Satisfaction: An Empirical Study”, International Journal of Marketing & Financial Management, Volume 11, Issue 2, 2023, pp 46-57. DOI: https://doi.org/10.5281/zenodo.10900154

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REFRENCES

Hillson G.M. (2003). The Socio-Economic Impacts of Artisanal and Small-Scale Mining in Developing Countries. DOI: https://doi.org/10.1201/9780203971284

Kerzner, H. (2018). Project Management Best Practices: Achieving Global Excellence. Johnson Willey and Son. DOI: https://doi.org/10.1002/9781119470717

Oguzhan, Y. (2020). Risk Management in Construction Sector. World Journal of Advanced Research and Reviews, 12(8), 237-243. DOI: http://dx.doi.org/10.30574/wjarr.2020.5.2.0433

International Journal of Marketing & Financial Management

RELATIONSHIPS BETWEEN PROJECT RISK MANAGEMENT PRACTICES AND CLIENT SATISFACTION: AN EMPIRICAL STUDY

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