Evaluation of the Incidences of Risk Occurrence and Severity in PPP-Procured Mass Housing Projects (PPP-MHPs) in Abuja, Nigeria
Table 3.
Level of Risk Occurrence/Probability in PPPProcured Mass Housing Projects
|
| Risk Factors |
Risk Probability |
Std. Deviation |
Rank |
Asymp. Sig |
|
|
| Availability of Finance |
6.60 |
0.855 |
1 |
0.136 |
|
| High Finance cost |
6.27 |
0.740 |
2 |
.000* |
|
| Non-involvement of the host community |
6.06 |
0.544 |
3 |
.000* |
|
| Poor execution of Housing Policies |
6.06 |
0.471 |
4 |
0.050 |
|
| Corruption and lack of respect for Law |
6.06 |
0.446 |
5 |
0.016 |
|
| Wrong perception of housing need by low-income earners |
5.97 |
0.462 |
6 |
0.000* |
|
| Illegal Title to Land |
5.94 |
0.418 |
7 |
0.018 |
|
| Land acquisition and Site availability |
5.91 |
1.155 |
8 |
0.286 |
|
| Level of Demand for the mass housing projects |
5.82 |
0.808 |
9 |
0.145 |
|
| Unstable Value of Local Currency |
5.78 |
0.471 |
10 |
0.874 |
|
| Inadequate experience in PPP |
5.75 |
0.749 |
11 |
.000* |
|
| Lack of creditworthiness |
5.67 |
0.787 |
12 |
0.200 |
|
| Risk regarding Pricing of Product/service |
5.62 |
0.639 |
13 |
.000* |
|
| Prolonged negotiation period before initiation |
5.55 |
0.758 |
14 |
0.015 |
|
| Influential Economic Events (Boom/Recession) |
5.55 |
0.916 |
15 |
0.241 |
|
| Inadequate distribution of responsibility and risks |
5.53 |
0.987 |
16 |
.000* |
|
| High Bidding cost |
5.52 |
0.765 |
17 |
.003* |
|
| Lack of Commitment from Public/Private Partners |
5.47 |
0.717 |
18 |
0.008* |
|
| Poor Financial Market |
5.43 |
0.792 |
19 |
0.163 |
|
| Financial attraction to project investors |
5.40 |
0.942 |
20 |
0.163 |
|
| Construction time delay |
5.39 |
0.658 |
21 |
0.151 |
|
| Inflation rate volatility |
5.39 |
0.802 |
22 |
.000* |
|
| Poor decision-making process |
5.38 |
0.800 |
23 |
0.032 |
|
| Inadequate distribution of Authority between Partners |
5.34 |
0.695 |
24 |
0.205 |
|
| Delays in Project approvals and permits |
5.34 |
0.768 |
25 |
0.001* |
|
| Construction cost overrun |
5.26 |
0.602 |
26 |
0.111 |
|
| Change in Government |
5.24 |
0.788 |
27 |
0.349 |
|
| Public opposition to the mass housing projects |
5.22 |
1.088 |
28 |
0.149 |
|
| Interest rate volatility |
5.19 |
0.824 |
29 |
.000* |
|
| Force Majeure |
5.17 |
0.957 |
30 |
0.043 |
|
| Weather |
5.11 |
0.871 |
31 |
.000* |
|
| Operation cost overrun |
5.05 |
0.658 |
32 |
.000* |
|
| Land Grabbing/Encroachment |
4.95 |
0.852 |
33 |
.000* |
|
| Organization and Coordination risk |
4.90 |
0.975 |
34 |
.000* |
|
| Inability to service debt |
4.81 |
0.813 |
35 |
0.025 |
|
| Competition risk |
4.74 |
0.618 |
36 |
0.124 |
|
| Lack of tradition of private provision of public services |
4.74 |
1.157 |
37 |
0.055 |
|
| The bankruptcy of the investors (OPS) |
4.72 |
0.883 |
38 |
.000* |
|
|
|
|
