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Article
Publication date: 8 October 2018

Charles Amoatey and Doreen Danquah

The purpose of this paper is to analyse project risks in Ghana’s real estate construction industry in terms of likelihood of occurrence, severity of impact and controllability.

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Abstract

Purpose

The purpose of this paper is to analyse project risks in Ghana’s real estate construction industry in terms of likelihood of occurrence, severity of impact and controllability.

Design/methodology/approach

A quantitative research approach was used in this study to address the research objective. The study population consisted project managers, architects, surveyors and contractors from 17 members of the Ghana Real Estate Developers Association (GREDA) in Ghana. Random stratified sampling technique was used to select 97 participants from these firms. A structured questionnaire was used to collect primary data, whereas descriptive statistics were used to present findings.

Findings

All risks identified have some level of likelihood of occurrence, extent of severity of impact and controllability. Market risks, technical risks and environmental risks are more likely to occur. Market risks, technical risks and environmental risks had the highest severity of impact. Financial risks, market risks, managerial risks and technical risks are the most controllable. Among all risks, environmental risks are the direst because they have high likelihood of occurrence and severity of impact but very low controllability. Real estate construction firms (developers) are therefore expected to prioritize remedy of environmental risks.

Research limitations/implications

The study is based on self-reported perception of project parties on the likelihood, severity of impact and controllability of real estate project risk factors. Firms outside of GREDA were not included in the survey. Therefore, generalisation of these risk factors for the entire construction industry should be done with caution.

Practical implications

The research results show that Ghanaian real estate developers are aware of the existence of the risks which impact on the performance of the industry. To effectively and efficiently manage these risk factors, project parties must understand the likelihood of occurrence, severity of impact and controllability of the risk factors, as well as individual firm’s responsibilities and capabilities to manage them. Such knowledge helps project managers to prioritise risks in managing them in the face of scarce resources. From an academic research perspective, the paper contributes to a conceptual risk assessment framework for the real estate industry.

Originality/value

The paper’s main contributions relate to the introduction of real estate construction sector-specific factors to project risk management modelling.

Details

Journal of Facilities Management, vol. 16 no. 4
Type: Research Article
ISSN: 1472-5967

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Article
Publication date: 4 December 2023

Fred Nimoh, Stephen Prah, Fred Yamoah and Doreen Agyei

In view of the increasing trend in food policies targeting the promotion of consumer interest in locally produced foods and growing developments in willingness-to-pay (WTP…

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Abstract

Purpose

In view of the increasing trend in food policies targeting the promotion of consumer interest in locally produced foods and growing developments in willingness-to-pay (WTP) methodologies, the authors investigate consumer preference for packaged traditional drink asaana.

Design/methodology/approach

The study used a simple random sample of 336 consumers to draw on perception index and contingent valuation methods to evaluate consumers' perceptions of the attributes of packaged asaana – a traditional maize-based beverage produced in Ghana (also known as Ghana Coca-Cola). A tobit regression model was employed to analyze consumers’ WTP for the product.

Findings

Analyzing the factors that influence consumers' WTP for packaged asaana using the tobit regression model, the study established the existence of positive health and nutrition, economic benefits and purchasing decision-making perceptions for asaana. While the results further showed that consumers are willing to pay a premium for well-packaged asaana, demographics such as age, income level, labeling, price of the product and savings were found to exert significant influence on consumers’ WTP for packaged asaana. Salient recommendations for food processors and relevant government agencies and food policy implications are identified.

Research limitations/implications

Comprehending WTP provides valuable understanding regarding consumer qualms, actions and WTP for more secure traditional drinks and an examination of how the different factors that influence WTP for local beverages help boost local beverage production and guarantee employment.

Practical implications

Analyzing WTP data for traditional drinks reveals important implications for production, marketing and public health policies. Certification systems for traditional beverages may be beneficial, and the findings can be used to create public awareness campaigns about the safety of local drinks.

Originality/value

Assessing the WTP among Ghanaian consumers for traditional drinks, specifically asaana, is a ground-breaking study. The contingent evaluation (CE) and tobit regression approaches utilized in this research are strong, and the results obtained can guide decisions related to traditional drink production, marketing and the development of public health policies.

Details

British Food Journal, vol. 126 no. 3
Type: Research Article
ISSN: 0007-070X

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