RISK MITIGATION STRATEGIES AND PROJECT PERFORMANCE OF COMMERCIAL BANKS IN NAIROBI CITY COUNTY, KENYA

Francis Ngare Mbuli, Dr. Anne-Marie Wairimu Mungai

Abstract


The general objective of the study was to examine the effect of risk mitigation strategies on project performance of commercial banks in Nairobi City County, Kenya. Specifically, the study sought to establish the effect of risk transfer on project performance of commercial banks in Nairobi City County, Kenya and to investigate the effect of risk prevention on project performance of commercial banks in Nairobi City County, Kenya. This study used a descriptive research design. The target population was 13 bank housing projects in Nairobi County. From every housing project the study targeted the project managers, project engineers, quantity surveyor, architect, electrical engineer, structural engineer, and procurement officers as the unit of observation. The target population therefore comprised of 91 housing project team members. To select the study respondents, census sampling technique was employed. This implies that all the 91 housing project team members participated in the study. This study used questionnaire to collect data relevant to this study. Quantitative data collected was analyzed using descriptive statistical techniques which are frequencies, mean, standard deviation. Inferential statistics which include Pearson correlation and the Regression Analysis Model was used to test the relationship between study variables. The significance of the model was tested at 5% level of significance. Data was analysed using Statistical Package for Social Sciences (SPSS) software. The study results were presented through use of tables and figures. The study concludes that risk transfer has a significant effect on project performance of commercial banks in Nairobi City County, Kenya. The study also concludes that risk prevention has a significant effect on project performance of commercial banks in Nairobi City County, Kenya. Based on the findings, the study recommends that the management of commercial banks in Kenya should implement a robust risk transfer strategy through comprehensive insurance and outsourcing arrangements. The study also recommends that the management of commercial banks in Kenya should implement a rigorous risk prevention framework through comprehensive training and development programs.

Key Words: Risk Mitigation Strategies, Risk Transfer, Risk Prevention, Project Performance, Commercial Banks 


Full Text:

PDF

References


Alsaadi, N & Norhayatizakuan. (2021). The impact of risk mitigation strategies on the performance of construction projects. Estudios de Economia Aplicada, 39(4), 1-10.

Bukar, A. A & Ibrahim, U. A. (2021). Investigating the impact of risk prevention on project performance in construction industry: evidence from Nigeria. Science Journal of Business and Management, 9(3), 224-230.

Gichohi, G. P, Iravo, M & Muchelule, Y. (2024). Risk prevention on the performance of road construction projects in Kenya. International Journal of Management and Business Research, 6(1), 108-130.

Grant, R. (2019). Contemporary Strategy Analysis, (4 Ed). Blackwell Publishers

Igihizo, L & Irechukwu, E. N. (2022). Risk prevention and performance of Mpazi Channel Construction Project in Nyabugogo, Kigali-Rwanda. Journal of Strategic Management, 6(2), 31-44.

Kimani, P. M & Kirui, C. (2020). Risk transfer strategy and performance of construction projects in public secondary schools in Murang’a County, Kenya. International Journal of Management and Commerce Innovations, 6(1), 1815-1820.

Kirira, D. K, Owuor, B, Liku, C. N & ,Mavole, J. N. (2022). Risk mitigation strategies influence on road construction project performance: implementer insights of Kenya National Highway Authority (KeNHA), coast region projects. International Academic Journal of Information Sciences and Project Management, 3(4), 655-671.

Kothari, C. R. (2019). Research methodology: Methods and techniques. New Age International

Lütfi, S., (2020) Validity and reliability in quantitative research. Business and management studies. An International Journal, European Leadership University

Maghanga, E. M & Lewa, E. (2021). Influence of risk transfer on the performance of cement manufacturing firms’ projects in Kenya. International Journals of Academics & Research, 1(4), 204-208.

Mugenda A. &Mugenda O. (2019).Research Methods: Quantitative & Qualitative approaches. African Centre for Technology Studies (ACTS), Nairobi, Kenya.

Odhiambo, Y. A & Senelwa, A. (2021). Effect of project risk transfer strategy on project sustainability of NGO healthcare projects in south Nyanza, Kenya. International Journal of Social Sciences and Information Technology, 7(12), 18-28.

Oko-Osi, H. A, Ajemunigbohun, S. S & Abiodun, K. E. (2023). Risk transfer and project success: evidence from building construction companies in Lagos State, Nigeria. Nigerian Journal of Banking and Financial Issues, 9(1), 201-214.

Okumu, J. M & Wanjira, J. (2021). Risk mitigation strategies and performance of insurance industry in Kenya: a case of motor insurance companies. American Journal of Strategic Studies, 1(1), 25-48.

Rutabubura, T & Mulyungi, P. (2020). Influence of the risk transfer on project success in access to finance Rwanda. International Journal of Innovative Research & Development, 9(8), 287-291.

Sangwa, I & Dushimimana, J. D. (2023). Effect of risk mitigation strategies on project performance. a case of Twiceceka Project/WFWI- in Huye District, Rwanda. Journal of Entrepreneurship & Project Management, 7(12), 92-103.

Sekaran, U., & Bougie, R., (2019). Research methods for business: A skill building approach (5th ed.). Chichester, West Sussex:


Refbacks

  • There are currently no refbacks.