Risk factors associated with procuring university hostel facilities through build-operate-transfer model

Abstract

PurposeThe build-operate-transfer (BOT) model is fast becoming a sustainable tool for remedying the deficiencies of public financing of hostel facilities in Nigeria. Being a new concept in Nigeria, this study aims to assess clients’ organizations perspective of risk factors associated with BOT model with a view to providing information for their effective management.Design/methodology/approachQuantitative descriptive analysis was used, which was based on primary data obtained through questionnaire survey. The respondents included architects, engineers (structural/civil/mechanical/electrical), builders and quantity surveyors who were officials in the physical planning development and works departments of five sampled universities in the southwestern Nigeria who executed at least one BOT hostel project. A total number of 45 copies of questionnaire were administered, out of which 35 copies representing a response rate of 77.8 per cent were retrieved. Data analysis was undertaken using descriptive statistics: percentages, mean item score and relative importance index.FindingsSeverity of the risk factors specific to BOT model for hostel development was revealed. Besides, conceptual allocations and mitigation measures were suggested against each risk factor.Practical implicationsPrivate sector investor would find the results of this research useful in preparing robust BOT contract packages through the understanding of the nature of risk factors associated with the procurement model.Originality/valueWith limited evaluation of BOT in hostel facilities procurement, this study developed a simplified approach to management of risk factors associated with BOT model in the education sector.