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Risk Management Practices in South Africa

In: Risk Management Practices in Construction

Author

Listed:
  • Ayodeji E. Oke

    (Federal University of Technology Akure)

  • Pelumi E. Adetoro

    (Malawi University of Business and Applied Sciences)

  • Seyi S. Stephen

    (University of Johannesburg)

  • Clinton O. Aigbavboa

    (University of Johannesburg)

  • Lukman O. Oyewobi

    (Federal University of Technology Minna)

  • Douglas O. Aghimien

    (De Mont Fort University)

Abstract

Risk management often deals with analyzing market and non-market risks (short- and long-term risks). Also, risk management analyzes the influence of risks on the corporate environment by developing strategies to mitigate risk exposure. As a developing economy, South Africa poses long-term economic, financial, and operational risks to investors through several developmental practices. These risks have raised some concerns regarding a lack of accountability, increased expenses, an unstable economy, the spread of economic crisis from one region to another, and constraints in enforcing the rule of law. The South African construction industry has been making progress in implementing risk management practice through different frameworks, and the result has been great over the years. However, there is still a lot of work to be done in terms of its full adoption, challenges, benefits, etc. It makes up the country’s reception toward risk management practice.

Suggested Citation

  • Ayodeji E. Oke & Pelumi E. Adetoro & Seyi S. Stephen & Clinton O. Aigbavboa & Lukman O. Oyewobi & Douglas O. Aghimien, 2023. "Risk Management Practices in South Africa," Springer Books, in: Risk Management Practices in Construction, chapter 0, pages 59-66, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-35557-8_6
    DOI: 10.1007/978-3-031-35557-8_6
    as

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