An Examination of Project Risk Identification and Prevention Techniques in Ensuring Project Success; A Case Study of Electricity Company of Ghana (ECG)
Abstract:
Project risk management is the systematic process of identifying, analyzing,
and responding to risk by applying risk management principles and processes at the
project level. This is seen to be a very big challenge to most project managers.
Research has proven that most projects that are executed face serious challenges
as far as risk is concerned due to lack of appropriate techniques in identifying
and preventing risk. Therefore the study intends to evaluate risk identification
and prevention techniques in ensuring project success in Electricity Company of
Ghana ECG with the objective of examining how efficient and effective the Project
Management Team manages risk and whether the success of project depends on effective
risk management identification and prevention techniques in project management of
Electricity Company of Ghana (ECG).
The study intends to adopt the cross section survey technique in that
it will be necessary to interview key personnel within the entire stratum of Electricity
Company of Ghana (ECG) especially those activities impinge upon risk and project
success. Qualitative information will be obtained and analyzed in order to address
the objectives of the study. Where necessary such information will be quantified
using relevant Statistical Packages for Social Science (SPSS) to enhance the direction
of the study. The study seeks to find out whether project success depends on the
following for effective risk management and strategies for effective project risk
identification:
·
Risk Analysis and Evaluation
·
Risk Monitoring and Reviewing
·
Risk Communication
It also seeks to find out if Electricity Company of Ghana (ECG) has a
Project Risk Management Plan and Risks that are identified before projects are initiated
and that if Electricity Company of Ghana (ECG) has competent project management
professionals.
