Effect of Project Risk Management on Project Success in Rwandan Logistics Companies; A Case of KARA Logistics Company in Nyarugenge District (2018 to 2022)
DOI:
https://doi.org/10.53819/81018102t2383Abstract
This research is investigating the effect of project risk management on success of KARA logistics project. This research achieved the following objectives: to assess the effect of risk identification on project success of KARA logistics company; to examine the effect of risk analysis on project success of KARA logistics company; to analyze the effect of risk mitigation on project success of KARA logistics company and to evaluate how risk monitoring and control affect success of KARA logistics company.The research also was compared two variables which are independents and dependents variables. It is a quantitative analysis that involves careful observation of the situation. All the respondents from the population of KARA Logistics Company to respond to research questionnaires. The research used questionnaires to collect data, As far as this study was concerned, the population was comprised of respondents of KARA logistics company in different departments targeting 244 respondents. To describe target population of a study as the point of focus from which a generalization was made regarding the research findings. Thus a sample size was 244 respondents. The study adopt primary and secondary data to get all information needed in this study, the quantitative data was analyzed using descriptive and inferential statistics after running the data collected through the Statistical Package for Social Sciences. The statement evaluated is that there are risks that have a high negative impact on KARA Logistics' success rates, “Respondents strongly agreed with a mean of 4.11 and a standard deviation of 0.940. “This indicates that respondents disagree with the statement, as indicated by the weaker mean and heterogeneity of responses and that respondent have different opinions about the statement, as shown by the standard deviation. The third rated statement is "Reduce the impact of potential risks by developing plans to manage, prevent or limit failures as much as possible to achieve the success of KARA Logistics" with a measured mean of 4.21 and a standard deviation of 0.944. From objectives, the researcher found that project risk management has positive effect on success of KARA logistics project. In the data analysis and interpretation as shown in above discussion, the study sought to come up with the following recommendations in line with the research objectives as given below. KARA logistics project should work with Insurance company with lower premium in order to manager well project risk management which lead to success of KARA logistics project and it should work with bank to reducing the delaying their daily activities. The government of Rwanda should establish the away of proving training to many Rwandans specialist in logistic to increase lots number of Rwandans who are experienced with the field.
Key words: Project Risk Management, Risk Identification, Risk Analysis, Risk Mitigation, Risk Monitoring and Control, and Project Success.
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