Assessment on Project Risk Management, Risk Identification & Monitoring Process in Ethiotelecom.
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Date
2021-07
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Addis Ababa University
Abstract
The current business environment is characterized with complex versatile and dynamic nature that requires dynamic and flexible approach. This nature also requires critical thinking, informed decision making and structured, organized, and planned project risk management process. Therefore, adopting risk management is critical for the company to anticipate and manage project risks in every project endeavor consistently. The objective of this study is to assess the proper application of risk management knowledge area on the current project undertakings in ethiotelecom and support and attention given by the top management in creating conducive environment for project risk management and proper oversight as well as application of project risk management and best practices in existing projects in the company. Researcher used qualitative & quantitative research method and the samples are selected purposively those are highly involved in project, design, rollout, coordination, and performance reporting activity out of the target population, using convenient sampling technique. Fifty sample selected from performance monitoring, program management, power & environment, Network, and Information system divisions. To collect primary data Likert scaled, multiple choice open-ended questionnaires distributed to the sample respondents at their office using drop and pick method and forty completed responses are collected. Manually filtered response encoded into SPSS-20 tools and the data are analyzed using central tendency (mean value) and frequency distribution technique. The frequency distribution result figure shows 64% to 73% inadequate oversight and lack of clear project risk management policy, procedure and lack of clear authority and responsibility: Absence of well-established and organized risk management office as well as in adequate application of project risk planning, identification, analysis and response tools and techniques. And the mean value also falls between 2.0 to 3. Similarly, the multiple choice and open-ended question response also explained inconsistent application of project risk management tools and techniques and application of unorganized, traditional risk management practice. From this it is concluded that there is the absence of organized risk management structure and the lack of top management’s sufficient attention as well as inconsistent and inappropriate application of risk management process. Therefore, based on the result researcher recommends corporate management to formulate clear and complete risk management policy and procedure, exert sufficient attention and undertake close follow up in project risk management and project teams to apply risk management tools and techniques consistently andxii comprehensively. Researcher also recommends further research on the area covering more geographical area with involvement of more project stakeholders and teams.
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Keywords
Risk Identification, Risk planning, Uncertainty & risk Governance & risk, project risk management