Assessment of Risks Associated with The Procurement of Facilities Management Services in Nigeria
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Date
2014
Authors
Faremi, J.O
Adenuga, O.A
John, I.B
Akinbode, A.T
Journal Title
Journal ISSN
Volume Title
Publisher
CIB W107 2014 International Conference
Abstract
Facilities management (FM) services can be managed in-house, outsourced or partly in house and partly outsourced (Hybrid). Each of the FM procurement options possesses inherent risks of grave consequences. This study aim at assessing risks inherent in each of the procurement options for FM services. A structured questionnaire was used as the principal instrument for this study. 75 copies of structured questionnaires were distributed, 55 were completed and returned representing 73% response rate. Data for the study was processed and analysed using SPSS for both descriptive and inferential statistics. The analysis revealed risks with the highest level of potential occurrence in in-sourcing FM services as low labour productivity, overstaffing and poor accountability. While, threat to data security, loss of management controls and poor motivation are major risks in outsourcing FM services. This studv concludes that poor accountability and loll' labour productivity are major risk factors that cuts across all FM procurement routes that is capable of affecting employees' relationship and passion for work. Performance reward and regular account reconciliation are therefore recommended since this can either reinforce an outsourcing relationship or enhance an in-house retaining of FM services.
Description
Staff Publications
Keywords
Facilities Management , Procurement Options , Risks , Research Subject Categories::SOCIAL SCIENCES::Business and economics
Citation
Faremi, J. O., Adenuga, O. A.,John, I.B., & Akinbode, A. T. (2014). Assessment of Risks Associated with The Procurement of Facilities Management Services in Nigeria.