Browsing by Author "Otoo, Abigail Elikplim"

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    A study on project managers’ willingness to take risk.
    (2021-06-17) Otoo, Abigail Elikplim;
    The success of any project depends on effective risk management, and the precursor of effective risk management is determining the level of project risk tolerances. Risk is the distribution of possible outcome in terms of time, cost, and performance of an endeavor, and risk tolerance is the willingness of a person or the organization to accept or avoid such risk. Project managers in relation to their stakeholders are likely to have a direct view of the outcomes of projects and the extent to which such outcome could be materialized or achieved. Project managers’ ability to take risk is relatively dependent on the job security and the organizational culture. This study was aimed at examining why project managers take risk and to know the extent to which they are willing to take these risks. Quantitative research was used to collect data and the descriptive approach was deployed to help with the study findings. A questionnaire was designed to be sent by mail or hand distributed to respondents. It came to light that; project managers would always like to factor their experience with similar projects mostly in taking such decisions. Adequate project risk management practices which encourages sustainability was the most recognized benefit per the survey. It was followed by the greater expectation for project success and results maximized while the least considered benefit was to accelerate project delivery. In conclusion, project managers are to ensure that their team gains expertise in their field to effectively work and guarantee success of projects. It was suggested that organizations and top management should also provide their support to project management team throughout the life cycle of projects. Stakeholders should involve themselves more from beginning to end to ensure the issue of information dispersion is dealt with.