Influence of Project Manager’s Risk Management Competence on Performance of Mombasa County Government Project, Kenya (original) (raw)
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The main objective of this study was to investigate the Influence of project organizational risk management policy on performance of Mombasa County Government projects. The findings showed that the respondents were in agreement that risk attitude mean of 3.9714 and risk communication mean of 3.8619 can enhance project performance. The findings also showed that both were reliable with coefficient of 0.799 and 0,826 which exceed the proposed threshold of 0.70. According to the findings, there are positive average relationships between attitude and both measures of performance with correlation coefficients of 0.405 and 0.423 respectively. The relationships are also significant at 5% level of significance (since the p value is less than 0.05).Correlation analysis was used to measure the strength of the relationship between the measures of project organizational risk management policy and performance. The findings show that there are positive average relationships between risk attitude and both measures of performance with correlation coefficients of 0.405 and 0.423 respectively. The relationships are also significant at 5% level of significance (since the p value is less than 0.05). There were weak positive relationships between risk communication and both measures of performance with correlation coefficients of 0.277 and 0.263 respectively. However, the relationships were significant at 5% level of significance. From the findings project organizational risk management policy has a positive influence on performance of Mombasa county government projects. The study therefore recommends that, the personnel in charge of policy formulation in Mombasa County Government should incorporate project risk management in their policies this will enable them manage project risks. Policies should address risk communication, risk attitude and risk culture of the project team members. Communication plays an important role in risk mitigation. It provides opportunities for clarification; for making sense of the organization's progress, and thus members should be given ample time to discuss how to improve the organization and the influence of using different risk mitigation strategies. Mombasa County government project team should view risk management as an inherent part of decision making and mot just a reporting tool .This will help the project team members to change their attitude from being risk averse to risk tolerant.
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Risk is considered as an inseparable part of any project and since all the effective factors in projects are not predictable, risk management is inevitable. One of the biggest administrative problems with internal projects is the managers’ neglect of the importance of risk management which leads to delay in projects delivery and increase of the cost of the projects. Since not all risks are regarded as threats but also as opportunities, risk management is considered as a balance factor between the loss of threats and the profit earned through opportunities. It has focused on some strategies for successful implementation of risk management in projects as well. In the risk management, the most logical way of planning is managing risk before taking risk. This study investigated risk and risk management, its aims, components, and different stages of risk to reach the expected aims and outcomes of the study.
Risk is defined as an event that has a probability of occurring, and could have either a positive or negative impact to a project should that risk occur.(Van Scoy, 1992) Risk management is a broad factor affecting quite a number of business sectors however it’s also a factor which must be addressed by every human being on earth regarding their way of living otherwise if ignored human life is left in harm’s way and susceptible to death, diseases and poverty. However to a project, risk management is an ongoing process that continues through the life of a project. It includes processes for risk management planning, identification, analysis, monitoring and control. Many of these processes are updated throughout the project lifecycle as new risks can be identified at any time. It’s the objective of risk management to decrease the probability and impact of events adverse to the project. On the other hand, any event that could have a positive impact should be exploited. (Laurie Williams 2004). The purpose of this Essay is to address the challenge of dealing with risks and opportunities professionally which is becoming one of the key success factors in business today. Most companies have realized the requirements turbulent markets present and have started to adapt to this turbulence. But risks and opportunities are greater in turbulent markets, so they call for active strategic risk management.
Risk Management Instruments, Strategies and Their Impact on Project Success
International journal of risk and contingency management, 2013
Risk is an inseparable event or occurrence to any project and it is a consequence of uncertainties and unknowns associated with the project and its execution. Past research studies generally focused on types of risks and risk management processes. This research effort, using a survey questionnaire, is an attempt to understand types of specific risk mitigation approaches that are commonly employed and their dependency with the type of an organization. This research effort also addressed relation between risk mitigation strategy of an organization and individual project manager's propensity to risk. Research results show that project risk management plan and it development is likely to be influenced by cost and time aspects of a project but not on the project scope. Further, results revealed that many organizations depend on contingency budget rather than a formalized risk management plan.
Risk Analysis, 2010
This article examines the effectiveness of current risk management practices to reduce project risk using a multinational, multi-industry study across different scenarios and cultures. A survey was administered to 701 project managers, and their supervisors, in seven industries and three diverse countries (New Zealand, Israel, and Japan), in multiple languages during the 2002–2007 period. Results of this study show that project context—industry and country where a project is executed—significantly impacts perceived levels of project risk, and the intensity of risk management processes. Our findings also suggest that risk management moderates the relationship between risk level and project success. Specifically, we found that even moderate levels of risk management planning are sufficient to reduce the negative effect risk levels have on project success.
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Communications - Scientific letters of the University of Zilina, 2011
The term risk is often elusive, because its interpretation is commonly based on the specific aspect and goal of its utilization. Therefore, there are many definitions and approaches to cover this term. However, the situations in which we perceive risk have certain common elements. The first one is that we do not know what will happen. The second one is that specific interests are exposed to consequences in such situations [1]. Thus, there are essentially two components needed for risk to exist – an uncertain event and its adverse consequences (see Fig. 1). Risk can be defined as an uncertain event that, should it occur, will have an effect on the achievement of objectives. A risk is measured by a combination of the probability of a perceived threat and the magnitude of its consequences on objectives [11].
Risk Management: A New Project Management Perspective
Journal of Civil Engineering and Architecture, 2012
Risk management in Botswana has been very ineffective at assisting projects to be on time, on budget, and meeting client's/buyer's expectations. Traditional risk management attempts to manage, control, and direct a project through various phases, from planning and design, through procurement, and to construction. However, the risk management in Botswana seems to be either not implemented or not successful. The project performance in Botswana has a poor performance record. The researchers are attempting to identify why the traditional project/risk management is not working. In analyzing the problem in Botswana, the researchers discovered that the traditional risk management model was theoretically unsound, and designed a new project and risk model, with an entirely different approach to risk. The new model is an outgrowth of the highly successful Performance Information Procurement System (PIPS) and the Information Measurement Theory (IMT)/Kashiwagi Solution Model (KSM) concepts. The approach has been presented to some Botswana clients and academics and has received a favorable response. The development of the new risk model will lead to a huge change in the paradigm for delivering projects in Botswana. The theoretical development of the new risk model is ongoing at the University of Botswana as a part of a doctoral dissertation.
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iRAPA International Journal of Business Studies
The attitude toward risk analysis department in oil and gas sectors at some point is not be good its mean the attitude dealing with department and acceptance the important of this department is not acceptable and showing negative attitude. It’s found that the most of the oil and gas sector companies working in Pakistan having its own risk analysis department and its percentage is almost 75% and out of 25 % companies (54.4 % hire external consultant while 45.6% having no serious attitude to hire external consultant or developed its own risk analysis department). Those companies who hire external or having its own risk analysis department having more project success rate as compare to those who having no department as well as did hire external consultants. The result show that risk analysis department play vital role in project success and helping to project by saving time, cost, delay issues etc. and due to project success the Pakistan economy also be supporting and helping to stand ...