Vol. 7, Issue 1, Part B (2025)

Risk management in procurement is a critical aspect of project management, particularly in road construction, where uncertainties can significantly impact project timelines, budgets, and outcomes. Effective procurement strategies help mitigate risks related to cost overruns, delays, quality issues, and contractual disputes. This study examines risk management practices in procurement options within the context of road construction projects in Luanshya. STATA was used for data entry and statistical analysis. Graphical presentation of descriptive statistics was done using Microsoft Excel 365. Chi-square was used for inferential statistics in order to determine the relationships between the variables. The findings revealed that the Design-Bid-Build (DBB) method is the most preferred procurement option, utilized in 40% of projects, due to its structured processes and defined roles. However, it is also linked to higher financial and time-related risks, such as cost overruns and delays. Design-Build (DB) follows at 26.9%, valued for its efficiency in reducing project timelines but carries risks tied to contractor reliability. Less frequently used methods, such as Public-Private Partnerships (PPP) and Integrated Project Delivery (IPD), offer unique benefits but face challenges in setup complexity and stakeholder coordination. Key factors influencing procurement method selection include project complexity, cost control, and time constraints. Risk analysis highlights that external factors such as regulatory challenges, economic fluctuations, and weather conditions significantly impact procurement outcomes. Current risk management practices were found to be moderately effective, with limitations stemming from inadequate risk assessment methods, insufficient training, and high implementation costs. To improve risk management in road construction, government agencies, construction companies, and stakeholders should institutionalize comprehensive training programs tailored to specific procurement-related risks, using real-world case studies for practical insights. Embracing hybrid procurement strategies, such as design-build (DB) and public-private partnerships (PPPs), can better distribute risks and enhance accountability. Developing a standardized risk assessment framework will ensure consistency and transparency across projects, while continuous risk monitoring systems can proactively address emerging issues. Multistakeholder collaboration through forums and workshops will promote shared responsibility and knowledge exchange.