An Empirical Investigation of Risk Management Factors in Private Construction Projects in Benghazi City

Abstract

Sustainability is a critical consideration in the management of construction projects. Effective risk management is a key requirement to achieve sustainability goals, as it helps to minimize the negative impacts on the environment and society. Also, it optimizes resource utilization, and ensure project's economic viability. This study aimed to identify the factors that impact construction risk management in Benghazi city using a quantitative approach and questionnaires to collect data. The study analyzed 140 questionnaires to gain insights into the types of risks faced by construction projects in the city and how they are managed. The study's findings indicate that HR risk, technical risk, resource risk, financial risk, legal risk, management risk, and time risk significantly impact construction risk management. These findings underscore the importance of effective risk management in construction projects, which is critical to achieve sustainability goals. By implementing effective risk management strategies, construction projects can mitigate risks, improve projects’ performances, and increase their chances of success. The results can inform future risk management strategies and provide valuable insights into the factors that impact construction risk management in Benghazi city, contributing to sustainable construction practices.