The Assessment of Project Risk Management Practices in Development Bank of Ethiopia financed Projects; the Case of Manufacturing Projects Administered at Head Office

No Thumbnail Available

Date

2020-06

Journal Title

Journal ISSN

Volume Title

Publisher

Addis Ababa University

Abstract

Risk management is a known concept these days in manufacturing industry. Project risk management is considered as one of the most significant and basic factors in the ten knowledge areas of project management. Manufacturing projects financed by DBE, confronted several risks that may confine their prosperity because of the explanation that, these projects has especially huge risks because of the fluctuating trends of worldwide business. Consequently, this study planned for surveying the practice of project risk management on DBE financed manufacturing projects by assessing the project risk management process such as Risk Management Planning, Risk Identification, Analysis, Response and Monitoring. To conduct a study, the descriptive research approach adopted, and a stratified random sampling technique was chose since it is especially applicable where data is required legitimately from the marvel under scrutiny and where time and assets are restricted. To fulfill the objectives of the study, questionnaire were develop and distributed to 135 respondents of which 106 questionnaires collected from the manufacturing industry project managers, team managers and project contact officers in the DBE. All the legitimate surveys were investigated utilizing SPSS v20 adopting the 5-Point Likert Scale. Secondary data likewise gathered by means of literature reviews of print and website articles, books and published documents. In light of the analysis, the outcomes showed inadequate experience and practice of project risk management process in the manufacturing projects. The execution and utilization of remarkable project risk management has not watched and an incredible consideration not given. Subsequently, the study suggested that every concerned parties like project owners, project managers, chiefs, project participants, and experts should comprehend the significance of project risk management for the thriving of manufacturing projects and should utilize legitimate risk management process and methods in the manufacturing industries.

Description

Keywords

Definition of Risk, Risk Management, Project Management, Manufacturing Projects, Risk Planning, Risk Identification

Citation