The extent of applicability of project management knowledge bybanking institutions – A case study of Republic Bank Ghana limited
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Date
2021-06-23
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Abstract
The dynamic nature of the banking industry undoubtedly puts management in the
position to undertake projects that require responsibilities of the project managers to
remain tactful in their duties in order to meet ever changing industry demands and as
well remain competitive. The application of project management which encompasses
the necessary tools which when carefully applied can help meet the dynamic demands
of the banking industry is therefore inevitable. Consequently, the need for banks to
have a project management office to manage and perform project management
objectives cannot be overstated and must be a priority of general management to
make the necessary commitment to this office in order to yield successful
achievement of project management objectives within the banking sector. Hence, this
research was aimed at assessing the extent to which project management knowledge is
applied to projects in banking institutions in Ghana, using Republic Bank Ghana
Limited as a case study. In order to achieve this aim the following objectives were set:
to document policies that mandate the use of project management methodology, to
assess the level of expertise of project inclined employees, to assess the suitability of
the organizational structure to project management practice and to investigated the
perception of the banks regarding the success or failure in project delivery. A
structured questionnaire survey was carried out to ascertain the extent to which
project management knowledge is applied to projects in banking institutions in
Ghana. The study employed a quantitative research design by means of preliminary
literature review and subsequently a survey using the structured questionnaire
approach. The data collected was analysed using descriptive statistics, the Relative
Importance Index (RII) method, the One-sample T-test and correlation method of
analysis. Findings of this study revealed that project management knowledge
especially in the banking industry yields effective service delivery by helping to keep
customer demands in synchronization with service deliver in order to help any service
organization cope with change. However, the potential of project management has not
been fully realized in the Ghanaian banking industry. Also a recommendation for this
study suggested that, there is the need for banking sector to be innovative and come
up with project management policies that makes provision for continuous
improvement on systematic measurement and focus on customer satisfaction.
Description
A thesis submitted to the Department of Construction Technology and Management, Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirement for the Award of a Degree of Master of Science.
Keywords
applicability, project managemen, banking institutions, Republic Bank Ghana