The Practices Of Risk Managenent Process And Project Success: The Case Of Commercial Bank Of Ethiopia It Project
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Date
2020-06
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Addis Ababa University
Abstract
This study is about the practices of Project Risk Management and Project success by taking IT
projects from projects practiced in the Commercial Bank of Ethiopia. Therefore, workers in the
Commercial Bank of Ethiopia was contacted to collect data. Questionnaire survey was
conducted to collect data from the respondents that consisted of bankers and project managers.
After being tested for their validity and reliability, in total, 53 questionnaires were distributed
and all of them returned and used for analysis of the study. The study used random sampling to
select respondents. The applications used to analyze and examine the hypotheses were the
Statistical Package for Social Sciences V.21.The descriptive statistics was used to describe the
general result of the variables. The finding of the study indicate that project success is highly
impacted with a proper project risk management process. Accordingly the study recommends
that during all phases, it is highly recommended that the project team members should give due
attention for the various processes under project risk management practice. The research also
clearly presented that an individual risk management process is able to contribute to elements of
project success which are product performance and process performance. The results of the
study demonstrate that product performance is highly impacted by risk identification and risk
response planning, and mildly by risk analysis. The results of the study also show that process
performance is highly influenced by risk identification and to a certain extent risk response
planning and risk analysis. The various challenges that are being faced while practicing the
individual risk management processes has been identified.
Due to the very nature of the banking business which is very sensitive, complex and vulnerable to
scheme and financial loss, risk ought to be handled with a lot of care and due diligence
especially in the normal daily operation specifically in the Commercial Bank of Ethiopia. These
practices should be adapted and undertaken effectively in projects implemented in the
Commercial Bank of Ethiopia in particular and other project running organization in general.
This is mainly because, according to the finding of this study effective risk management practices
are major contributors towards project success amongst other project management strategies.
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Keywords
Project Risk Management, Project Success, IT projects