RISK MANAGEMENT PRACTICES AND PERFORMANCE OF PROJECTS IN KENYA POWER LIMITED
Abstract
The study's primary goals were to determine the effects of risk planning, detection, analysis, and control on project performance at Kenya Power Limited. The theory of constraints and portfolio theory were used. The study embraced descriptive research approach and examined 77 members of Kenya Power's project management committee, 110 members of the project implementation team, and 11 representatives of the company's contractors over the last five years. The 198 members of the project management team and contractors who participated in the study served as both observational and analytical units. SPSS was adopted in analyzing the collected data and this was presented using mean, frequency table, graphs and pie charts. Kenya Power Limited projects performed better when risk analysis was conducted initially followed by risk planning and risk identification. According to the analysis, the company's risk management procedures aided project performance greatly. Risk managers should emphasize risk planning in order to strengthen KPLC's risk management systems, according to the research. Risk managers should attempt to improve risk planning procedures in order to boost KPLC's project performance. To boost performance, KPLC's project implementation team should prioritize risk detection techniques. To improve project performance, additional resources should be dedicated to developing and strengthening KPLC's risk management procedures. To improve their performance, regulatory authorities would use the study's findings and recommendations to build risk management policies, acts, and regulations.
Key Words: Risk Planning, Detection, Analysis, Control, Project Performance
CITATION: Nguru, G. W., & Kaburu, K. (2023). Risk management practices and performance of projects in Kenya Power Limited. The Strategic Journal of Business & Change Management, 10 (1), 427 – 439.
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DOI: http://dx.doi.org/10.61426/sjbcm.v10i1.2549
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