Evaluation of the Critical risk factors in PPP - procured Mass Housing Projects in Abuja Nigeria - A fuzzy synthetic evaluation (FSE) approach

Table 4.

Weighting for CRFs and CRFG in PPP-procured Mass HousingProjects.

    Risk Probability (p)     Risk Severity (s)  

Critical Risk Factors Mean Probability Weighting  (wn) of CRF Total mean of CRFG Weighting (wi) of CRFG Mean Severity Weighting  (wn) of CRF Total mean of CRFG Weighting (wi) of CRFG
Availability of Finance, u11 6.60 0.116 6.54 0.116
High Finance cost, u12 6.27 0.110 6.22 0.111
Unstable Value of Local Currency, u13 5.78 0.102 5.68 0.101
Lack of creditworthiness, u14 5.67 0.100 5.68 0.101
Influential Economic Events (Boom/Recession), u15 5.55 0.098 5.41 0.096
High Bidding cost, u16 5.52 0.097 5.38 0.096
Poor Financial Market, u17 5.43 0.096 5.46 0.097
Financial attraction to project investors, u18 5.40 0.095 5.36 0.095
Interest rate volatility, u19 5.19 0.091 5.47 0.097
Inflation rate volatility, u110 5.39 0.095 5.06 0.090
Financial and Macroeconomic  risk (CRFG 1): u1 56.80 0.327 56.28 0.322
Corruption and lack of respect for Law, u21 6.06 0.119 6.03 0.118
Non-involvement of the host community, u22 6.06 0.119 5.90 0.116
Poor execution of Housing Policies, u23 6.06 0.119 5.88 0.115
Wrong perception of housing need by low-income earners, u24 5.97 0.117 5.98 0.117
Illegal Title to Land, u25 5.94 0.117 5.90 0.116
Poor decision-making process, u26 5.38 0.106 5.45 0.107
Change in Government, u27 5.24 0.189 5.30 0.188
Land Grabbing/Encroachment, u28 4.95 0.097 5.52 0.108
Public opposition to the mass housing projects, u29 5.22 0.103 5.15 0.101
Legal and Socio-political risk (CRFG 2): u2 50.88 0.293 51.10 0.292
Inadequate experience in PPP, u31 5.75 0.208 5.79 0.205
Inadequate distribution of responsibility and risks, u32 5.53 0.199 5.76 0.204
Risk regarding Pricing of Product/service, u33 5.62 0.203 5.57 0.197
Lack of Commitment from Public/Private Partners, u34 5.47 0.197 5.60 0.199
Inadequate distribution of Authority between Partners, u35 5.34 0.193 5.51 0.195
Operation and Organization risk (CRFG 3): u3     27.71 0.159     28.23 0.161    
Land acquisition and Site availability, u41 5.91 0.261     5.92 0.262        
Level of Demand for the mass housing projects, u42 5.82 0.257     5.83 0.258        
Prolonged negotiation period before initiation, u43 5.55 0.245     5.48 0.243        
Delay in Project approvals and permits, u44 5.34 0.236     5.34 0.236        
Design and Project Selection risk (CRFG 4): u4     22.62 0.130     22.57 0.129    
Construction time delay, u51 5.39 0.341     5.62 0.337        
Construction cost overrun, u52 5.26 0.332     5.50 0.330        
Force Majeure, u53 5.17 0.327     5.54 0.333        
Construction risk (CRFG 5): u5     15.82 0.091     16.66 0.095    

Total Mean / Normalized Value of CRFG     173.83 1.00     174.84 1.00