The Impact of Risk Management Maturity on Project Success: In the Case of Commercial Bank of Ethiopia
No Thumbnail Available
Date
2024-10
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Addis Ababa University
Abstract
The relevance of assessing whether risk management contributes to project success is highlighted by the extensive track record of failure in projects. While there has been considerable effort and research dedicated to exploring the link between risk management and project outcomes, only a limited number of studies offer concrete empirical evidence to support the assertions regarding this relationship. Consequently, this study aims to examine the impact of project risk management maturity on project success within a Bank.
The study is conducted in Commercial Bank of Ethiopia, one of the largest and oldest banks in Ethiopia. The study adopted a descriptive and explanatory research design. Risk maturity on project success is assessed quantitatively using a structured five-point Likert scale questionnaire. Descriptive and inferential data analysis method was applied. There was a finding that the organization had a “Defined” level of risk management maturity, with a low level of project success. The data was analyzed using SPSS ver 23.00. The result of the study reveals that the relationship between risk management maturity dimensions (Risk management planning, Risk identification, Qualitative risk analysis, Quantitative risk analysis, Risk response, and Risk monitoring and evaluation) and project success have a significant and positive relationship at 99% with a sig value of 0.001. It’s recommended that the organization takes action to upgrade its level of risk management maturity so that it can boost its project success.
KEY WORDS- RISK MATURITY, PROJECT SUCCESS, PROJECT MANAGEMENT, RISK MANAGEMENT