Construction Risk Factor Management and Building Project Delivery in Akure, Ondo State, Nigeria

The current research examines how Construction Risk Factors Management (CRFM) influences building project delivery in Akure Metropolis, Ondo State in Nigeria, by adopting quantitative research design based on a survey study. The (391) identified registered professionals which included project architects, builders, engineers, managers and quantity surveyors were identified and a sample of (263) selected using purposive sampling depending on their experience in the construction industry. The data was gathered using self-administered questionnaires and therefore (219) responses were usable (an 83.3\% response rate). The test was performed using the descriptive statistics, T-tests to determine the level of significance of different construction risk factors. Utilizing multiple linear regression analysis, the study quantified the contribution of these risk management practices to project outcomes. The results indicated that construction risk management explained 9.2\% of the variance ($R^2 = 0.092$) in building project delivery, demonstrating a modest but significant effect. Legal risks (Mean = 4.39) were identified as the most significant, mainly due to unresolved land or contract disputes and prolonged arbitration periods. Project management risks (Mean = 4.33), including design errors, inadequate site monitoring, and poor planning, were also found to significantly impact project delivery. Environmental risks (Mean = 4.33), caused by adverse weather, poor terrain, and insufficient waste management, posed additional challenges. Financial risks (Mean = 4.23), stemming from inflation, exchange rate fluctuations, and delayed payments, and safety risks (Mean = 4.11), linked to non-compliance with safety protocols, were also critical. Among the risk management practices, risk regulation ($\beta = 0.191, P = 0.043$) emerged as the most influential, emphasizing the importance of compliance with safety standards and organizational policy enforcement. Risk assessment ($\beta = 0.182, P > 0.05$) and risk identification ($\beta = 0.054, P > 0.05$) were less impactful, likely due to their generic application rather than being tailored to specific project needs. Paired sample t-tests revealed a significant difference between internal risks (Mean = 4.58) and external risks (Mean = 4.23), with internal risks having a more substantial impact on project delivery. Despite the small effect size (Eta Squared = 0.03), internal risks such as organizational lapses, poor resource allocation, and weak communication were found to have a more detrimental influence compared to external risks. The study concludes that the legal risks were viewed to be the most common than project management, and environmental risks. Therefore, prioritizing risk regulation and enforcement of safety standards within construction firms, developing specific, project-based risk assessment and identification techniques, improving communication and resource management to mitigate internal risks, and providing training programs to enhance risk management skills among construction professionals is very essential.