Department of Business Administration

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Browsing Department of Business Administration by Subject "Assessment"

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    Assessment of Risk Management Practices in the Implementation of Mbale-Tirinyi Road Project
    (Makerere University Business School, 2022-03-04) Odhiambo, Valarie; Nancy, Auma
    This study investigated the risk management practices adopted during the implementation of Mbale-Tirinyi road project. The study was guided by three study objectives which examining the risk management practices adopted, challenges that affected the implementation of risk management practices in the Mbale-Tirinyi road project and suggesting appropriate strategies that can improve risk management in road construction projects. The study adopted a cross sectional research design. The approach was both qualitative and quantitative. A self-administered questionnaire and interview guide were used to collect data from the field. The collected data was analyzed using Statistical Package for Social Sciences (SPSS Version.20) and the findings were presented in form of tables with statements, frequencies, percentages, mean, and standard deviation to make meaning of the study findings. The study findings revealed that UNRA adopted some risk management practices which included insuring their operations, monthly risk assessment and analysis, using external auditors to identify, screening out riskier supplies, having approved risk management policies and use of scoring model to predict future risk. However, UNRA encountered challenges which included lack of risk management skills by staff, poor site management, slow decision making, poor communication between parties, inadequate planning and project design and inadequate funding. In order to mitigate the challenges and improve the risk management practices, the study suggested that there is need for employing well-trained and skilled staff and motivating by high pay and other incentives, which can only been done when the government high funding to UNRA to help them increase risk management budget. There is need for putting in place mechanisms to get sufficient information to enable a comprehensive assessment of risks and system for monitoring the conditions of all operations. Furthermore, the top management should periodically review the risk management strategies with benchmarking from other organizations. This will help them know how other organization control similar risks in UNRA. It was also suggested that emphasis is needed to be put on insuring all risky operations.