Publication: Influence of project risk management practices on completion of road projects in Nakuru county, Kenya
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2024-06
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Mount Kenya University
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Abstract
This study aimed to explore the impact of project risk management practices on the completion of road projects in Nakuru County, Kenya. Specifically, it examined how risk identification, risk analysis, risk response, and risk control practices influence the completion of these projects. The research was grounded in three theoretical frameworks: the enterprise risk management theory, the contingency theory, and the prospect theory. A descriptive survey study design was utilized to gather data. The study involved 98 respondents, including engineers, risk managers, subcontractors, and contractors involved in seven different road construction projects overseen by the Nakuru County government. To collect primary data, standardized questionnaires were used. The pilot test was done by the Kericho County Government to assess the research tool's validity and dependability. SPSS version 24 was used to analyze the collected data. The results of descriptive statistics were given as percentages, means, standard deviations, and tables. To determine the relationship between the variables, regression and correlation studies were conducted. Based on the findings, the study found that project risk identification has an influence on subsequent completion of road construction projects in Nakuru county (r=0.533, p=0.000). There is a positive and substantial association between project risk analysis and subsequent completion of road construction projects in Nakuru County (r=0.531, p=0.000). There was a positive statistically significant link between project risk responses and sequential completion of road construction projects in Nakuru County (r=0.219, p=0.002). There was a statistically significant association between project risk control and the completion of road construction projects in Nakuru County (r=0.269, p=0.004). This demonstrated that project risk identification, risk analysis, risk response, and risk control all had an impact on the timely completion of road building projects in Nakuru County, Kenya. This study suggests that all these factors should be considered for effective road construction projects. The report recommends that additional research be performed on project risk management strategies, how they are employed in capital projects, and how they affect project success.