RISK MANAGEMENT STRATEGIES AND PERFORMANCE OF NATIONAL GOVERNMENT CONSTITUENCY DEVELOPMENT FUNDS PROJECTS IN KIAMBU COUNTY, KENYA
Abstract
This study ascertained the relationship between national government constituency development money projects and risk management methods in Juja Constituency in Kiambu County, Kenya. The study utilized a descriptive research design which was cross sectional in nature. The population of the study was drawn from all the CDF funded projects in Juja constituency these were the on-going and complete projects for the 2020/2021 financial year. Primary data was obtained through administration of semi structured questionnaires. Data was coded, entered, and evaluated using statistics software (SPSS Version 25.0). Quantitative data was analysed utilizing descriptive statistics. The development of themes related to the study's variables, based on the qualitative information provided by the questionnaire's open-ended sections, was a component of content analysis. The results were displayed utilizing tables. The study found that risk retention, risk prevention, risk control and risk transfer had a positive significant influence on the performance of NG-CDF projects in Juja constituency in Kiambu County, Kenya. The study conclude that risk-retention helps to avoid negligible risks while paying more interest to the project management tasks and it is a valuable strategy applicable to budgeting and prioritization of project tasks. Risk prevention measures aim to stop or reduce the likelihood of a building safety risk happening in a project. The important role of the project managers is to identify and control it and without any control, risks can become disasters, causing delay, unnecessary expenses and even bringing the project to an end. Risk transfer is a risk reduction method that shifts the risk from the project to another party. The study recommended that the organization should allocate funds for potential losses and any associated costs. The project managers should document each risk in detail, including their potential impacts and possible responses to mitigate the risk, then, assign a team member to monitor each risk as your project progresses and keep this risk log updated throughout the project. Project managers must first identify risks as soon as possible and should then analyze each identified risk and come up with a plan to deal with it. The project managers can accomplish risk transfer through non-insurance agreements such as contracts.
Key Words: Constituency Development Fund, Risk Retention, Risk Prevention, Risk Control, Risk Transfer
CITATION: Wachira, A. W., & Kyalo, J. (2023). Risk management strategies and performance of national government Constituency Development Funds projects in Kiambu County, Kenya. The Strategic Journal of Business & Change Management, 10 (2), 1154 – 1170.
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DOI: http://dx.doi.org/10.61426/sjbcm.v10i2.2657
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