FACTORS INFLUENCING CORE BANKING PROJECT DELIVERY BY COMMERCIAL BANKS IN KENYA: CASE OF EQUITY BANK LIMITED
Abstract
Core banking project delivery is a sensitive phenomenon in the banking industry due to digitization and technological changes. The general objective of the study is to investigate the factors influencing the delivery of core banking projects in Kenya, a case of equity bank limited. The study adopted descriptive survey and targeted 52 project members of equity bank limited as the sample frame. Quantitative as well as qualitative techniques were used for data collection. Questionnaires were used for the primary data collection while secondary data were obtained from equity bank archives and website. The data collected was analyzed by use of SPSS (Vs21). The four variables were regressed against the independent variable. The independent variable was measured in terms of cost, time and quality. The results of Pearson correlation analysis revealed there was a positive linear relationship between project delivery and the independent variables (project manager competence at 79.4%, stakeholder management at 81.2%, project team capacity at 76.7%, and scope management at 82.5%). The study had the following conclusions, project management is emerging trend as one of the key strategies for creating a digital bank setting, qualification in terms of professional training in project management would further boost the overall effectiveness of the team, user participation is important in early stages of system development as a way of increasing later acceptance of the final project, top management support needs to be focused on the initiation and realization of benefits from all IT projects rather than the narrowly defined project activities. The recommendations were as follows; project management office should be viewed as strategic pillar of the bank, the bank should capitalize on project management for digitization, staff should be encouraged to work as a team through all the processes and phases of core banking projects, top management should engage in consistent communication with project teams and support by sufficient human and material resources, project managers who receive the necessary training are able to perform hence training gives the employee a greater understanding of their responsibilities within their role and adoption of monitoring and evaluation tools, evaluation analyzes why intended results were or were not achieved while monitoring focuses in particular on efficiency.
Key Words: Project Manager, Stakeholder Management, Project Team, Scope Management
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