Authors : Maryam Musa Bayawo; Devindi Geekiyanage; Shaba Kolo

Volume/Issue : Volume 11 - 2026, Issue 3 - March

Google Scholar : https://tinyurl.com/bdhwz93r

Scribd : https://tinyurl.com/36r82hxm

DOI : https://doi.org/10.38124/ijisrt/26mar736

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Abstract : This theoretical paper presents and argue that risk management issues bedeviling Nigerian Construction Industry (NCI) results from narrow focus of previous studies on the risk management. As such, despite the phenomenon have been studied for almost two decades—2010 to 2022—in Nigerian context, the industry is still affected by mismatch of decisions within internal/external stakeholder group as well as between internal and external stakeholder groups. Based on a combination of both sets of classical and enterprise risk management theories, the study conceptualized a perception of the two NCI stakeholder groups in a project organizational setting. And using qualitative research approach, sixteen (16) stakeholders—eight (8) in each of internal and external stakeholder groups—were interviewed based on Hegelian dialectic approach to test the conceptual framework of the stakeholder perceptions. The results are analyzed by Braun and Clerk’ thematic analysis using NVivo, and themes and subthemes emerged forming a comparison diagram of the NCI’s stakeholders perceptions on five risk management practices—Avoid, Retain, Share, Mitigate, and Transfer. Findings indicate that three (i.e., avoid, share, mitigate) of these risk management practices are concordant in that less/no perceptual conflict is likely to occur both within and between the two stakeholder groups. Whereas two (i.e., retain, transfer) are discordant in that they represent an uneasy choice likely to trigger perceptual conflict both within and between the two stakeholder groups, and thus supporting the conceptual framework. Consequently, this study shows that developing strategies to curb the risks bedevilling public infrastructure building project in NCI depends on a better understanding of the perceptions of both internal and external stakeholders involved in risk management practices in public infrastructure building projects since stakeholder perception is crucial in any attempt to devise a risk management strategy for common stakeholders involved in a project.

Keywords : Risk Management, Stakeholders, Nigeria Construction Industry, Conceptual Framework

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