Effect of Risk Management Practices on Project Success: A Case of Project of Intensification of the Beans Which Are Rich in Vitamin B, in Gakenke District, Rwanda
DOI:
https://doi.org/10.53819/81018102t30148Abstract
The study explored the complex relationship between risk management practices and project success in the context of the "Intensification of Beans Rich in Vitamin B" project in Gakenke District, Rwanda. In an era marked by dynamic project environments and a growing demand for sustainable development, effective risk management had emerged as a critical determinant of project success. This study sought to empirically assess the extent to which risk management practices influenced the success of the aforementioned project, with a focus on key variables such as risk identification, assessment, mitigation, and monitoring. The study took a mixed-methods approach, combining quantitative analysis of project data with qualitative insights gained through interviews and surveys. Project stakeholders, including project managers, team members, and local communities, were the primary participants in data collection. The study utilized a systematic random sampling method, collected data through questionnaires and interviews, and employed both quantitative (statistical) and qualitative (narrative) analysis techniques to present the findings. The multiple regression analysis showed that risk identification (β=0.83, p=0.017) and risk monitoring and control (β=0.523, p=0.002) had significant positive effects on project success. The model explained 28.2% of the variance in project success (adjusted R-squared=0.282). Both the null hypotheses that risk identification and risk monitoring/control have no significant effect on project success were rejected at the 5% level. This indicates that better risk identification practices and risk monitoring/control practices lead to greater project success for the intensification of vitamin B-rich bean project in Gakenke District, Rwanda.
Keywords: Risk Management, Project Success, Intensification, Beans, Vitamin B
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