Risk management strategies employed to minimise time and cost overruns: a case for Botswana's public sector building construction industry

Abstract

The objective of this study is to investigate Risk Management Strategies that could be used to minimize time and cost overruns currently experienced in Botswana’s Public Sector Building Construction Industry. This is achieved by identifying risk factors that cause time and cost overruns. The main problem is divided into three sub-problems which form the basis of the questionnaire. The three sub-problems are to: · Identify the major risks associated with time and cost overruns in the Botswana’s Public Sector Building Construction Industry. · Evaluate how these risks impact on Botswana’s Public Sector Building Construction Industry performance with regard to time and cost overruns. · Assess the applicability of risk management as a management strategy that can be adopted in the management of time and cost overruns experienced in Botswana’s Public Sector Building Construction Industry.