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dc.contributor.advisorPerris Chegeen_US
dc.contributor.authorIsack, Hassan Hanaba
dc.date.accessioned2024-02-02T09:03:54Z
dc.date.available2024-02-02T09:03:54Z
dc.date.issued2023-10
dc.identifier.urihttps://ir-library.ku.ac.ke/handle/123456789/27453
dc.descriptionReal estate development performance in Nakuru County continuously deteriorates, as evidenced by rising vacancy rates in outdated office buildings, restrained consumer spending due to the difficult economic climate, and competition from unofficial retail spaces in some submarkets. This poses a menace to the growth of the real estate market in Nakuru County. The study aimed at finding out how risk management practices influence the performance of real estate construction projects in Nakuru County. The research determined how technical risk management practices, financial risk management practices, market risk management practices and operational risk management practices affect the performance of real estate construction projects in Nakuru County. This research used a mixed-method study design with a population target of 45 ongoing and 25 completed real estate projects in Nakuru County. Using stratified simple sampling technique, a sample size of 25 ongoing and 15 completed real estate projects were selected. The study was affixed on strategic planning theory, Decision theory and risk/uncertainty bearing theory. The researcher used questionnaires to obtain data and suggestions from the respondents. A pilot study to assess the research instruments' accuracy and dependability was conducted in Nairobi County. The questionnaire's content, in particular, was reviewed by research specialists, including the project's supervisor to ensure that it was relevant and suitable for this research. The research utilized Cronbach's alpha to calculate the reliability coefficient of the questionnaires. Cronbach value greater than 0.7 was considered reliable. The gathered data was cleaned, coded, and accuracy checked to make analysis easier. The mean, frequency distribution and standard deviation of the cleaned data were calculated as part of a descriptive analysis. Using Pearson correlation analysis, the relationship between the dependent and independent variables was evaluated. Regression analysis was done using the analysis of variance technique (ANOVA). The results revealed that technical risk management practices had positive and substantial regression coefficient values of (0.451). Operation risk management practices had (0.313), market risk management practices (0.531), and financial risk management practices (0.273). Diagnostic test including multi-collinearity were conducted and this study found the data had no collinearity as shown by (VIF<10) for all variables. Constructed from the study findings, this study recommends that the Kenyan government should review all of the approvals that real estate developers need, formulate policies that regulate the construction sector by ensuring that real estate developers demonstrate their creditworthiness on their expected investments before granting any licenses. In addition, real estate developers should be encouraged to take advantage of staff empowerment through professional bodies that equips managers through risk management courses. Lastly, future studies conducted should concentrate on other risk variables not included in this study including legal and environmental risk management practicesen_US
dc.description.abstractReal estate development performance in Nakuru County continuously deteriorates, as evidenced by rising vacancy rates in outdated office buildings, restrained consumer spending due to the difficult economic climate, and competition from unofficial retail spaces in some submarkets. This poses a menace to the growth of the real estate market in Nakuru County. The study aimed at finding out how risk management practices influence the performance of real estate construction projects in Nakuru County. The research determined how technical risk management practices, financial risk management practices, market risk management practices and operational risk management practices affect the performance of real estate construction projects in Nakuru County. This research used a mixed-method study design with a population target of 45 ongoing and 25 completed real estate projects in Nakuru County. Using stratified simple sampling technique, a sample size of 25 ongoing and 15 completed real estate projects were selected. The study was affixed on strategic planning theory, Decision theory and risk/uncertainty bearing theory. The researcher used questionnaires to obtain data and suggestions from the respondents. A pilot study to assess the research instruments' accuracy and dependability was conducted in Nairobi County. The questionnaire's content, in particular, was reviewed by research specialists, including the project's supervisor to ensure that it was relevant and suitable for this research. The research utilized Cronbach's alpha to calculate the reliability coefficient of the questionnaires. Cronbach value greater than 0.7 was considered reliable. The gathered data was cleaned, coded, and accuracy checked to make analysis easier. The mean, frequency distribution and standard deviation of the cleaned data were calculated as part of a descriptive analysis. Using Pearson correlation analysis, the relationship between the dependent and independent variables was evaluated. Regression analysis was done using the analysis of variance technique (ANOVA). The results revealed that technical risk management practices had positive and substantial regression coefficient values of (0.451). Operation risk management practices had (0.313), market risk management practices (0.531), and financial risk management practices (0.273). Diagnostic test including multi-collinearity were conducted and this study found the data had no collinearity as shown by (VIF<10) for all variables. Constructed from the study findings, this study recommends that the Kenyan government should review all of the approvals that real estate developers need, formulate policies that regulate the construction sector by ensuring that real estate developers demonstrate their creditworthiness on their expected investments before granting any licenses. In addition, real estate developers should be encouraged to take advantage of staff empowerment through professional bodies that equips managers through risk management courses. Lastly, future studies conducted should concentrate on other risk variables not included in this study including legal and environmental risk management practicesen_US
dc.description.sponsorshipKenyatta Universityen_US
dc.language.isoenen_US
dc.publisherKenyatta Universityen_US
dc.subjectRisk Management Practicesen_US
dc.subjectPerformance of Real Estateen_US
dc.subjectConstruction Projectsen_US
dc.subjectNakuru Countyen_US
dc.subjectKenyaen_US
dc.titleRisk Management Practices and Performance of Real Estate Construction Projects in Nakuru County, Kenyaen_US
dc.typeThesisen_US


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