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An Assessment of the Role of Risk Management Practices in Core Banking Software Project Success: A Case of Commercial Banks in Kenya

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Author(s): John Paul Otieno

Journal: International Journal of Academic Research in Business and Social Sciences
ISSN 2222-6990

Volume: 03;
Issue: 10;
Start page: 305;
Date: 2013;
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Keywords: Project Risk Management | Core Banking Software Change | Commercial Banks | Project Success

ABSTRACT
Core Banking Software Change project in a bank is a project that is very costly and very delicate such that its success emerges the top most priority for the organization that is undergoing the change. There is need for business continuity, data integrity and customer service value addition from the product of the project.This study sought to establish the role of risk management practices towards enhancing project success in commercial banks in Kenya during Core Banking Software Change. Given its complexity, therefore, it would be paramount to establish the existing risk management practices in the local banking sector. This study sought to assess these practices with regard to risk identification, risk analysis and risk response and control.The researcher used survey research design and the target population was 14 banks that have changed their Core Banking Software in the last five years (2007-2013) based in Nairobi, Kenya’s capital city. A sample size of 7 banks was taken consisting of Project Managers, System Owner and Super Users as respondents. Data was the analyzed qualitatively using statistical representations such as percentages and graphs.The study revealed that most commercial banks in Kenya employ risk management practices during Core Banking Software Project implementation and most respondents believed that Risk Management is a major contributor to project success. Project success is the outcome of a personal, individual evaluation of project characteristics by each stakeholder. This may include objectively measurable characteristics such as time, money and requirements, but may also include other characteristics such as stakeholder satisfaction and the future potential of the project result (Koningsveld & Mertens, 1992).
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