Academy of Accounting and Financial Studies Journal (Print ISSN: 1096-3685; Online ISSN: 1528-2635)


Project Risk in the Construction Industry: An Empirical Study

Author(s): Lazarus Lanquaye Lamptey, Kwame Agyei Acheampong

Purpose: The purpose of the paper is to systematically review project risk in the construction industry. The specific objectives include; classification of project risk and the impact of project risk on project success. Design/Methodology/Approach: The paper adopted a systematic literature review that made used of published journals from 2009 to 2019 on the topic under study. The study ensued that the data collection concerning “project risk” was searched using a combination of some databases with specific much emphasis on Science Direct, Google Scholar and Emerald Insight. Findings: The finding highlighted that project risk tend to directly influence project success. However, the realization of the direct impact of project risk on project success is threatened by the inability for project to be able to classify and prioritize their risks which tend to have an impact of the project success.

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