Risk Management in Toll Road Projects at Project Development Stage - Lusaka Province
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Date
2020
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Abstract
The research aimed at identifying the risks associated with Toll road projects at the development stage. It also sought to determine the probability and effects of the identified risks. The findings reveal that, at development stage, Toll road projects are prone to a number of risks including; environmental clearance, lack of feasibility study, land acquisition and contract variations. The risks identified have a moderate chance of occurrence and effect. The study also reveals that despite the establishment of key infrastructure development institutions, the regulatory framework in Zambia is still weak. The study concludes that risk factors should be identified during the early stages to prevent possible delays and cost overruns during and after project implementation. The study recommends a Risk Management framework for adoption particularly at development stage and the need for key Toll road government agencies to review their efforts towards management and control of the projects to ensure desired outcome
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Toll Roads, Risk Management, Project Development Stage