Effect of Project Risk Management Practices on Performance of Digitalized Projects: A Case of Karame Twaje Project Hosted in I&M Bank

Vanessa Ingabire and Tarus Thomas
University of Kigali
https://orcid.org/0009-0000-4589-0914
Email: ivavarwaka55@gmail.com

Abstract: The study assessed the effect of risk management practices on the performance of digitalized projects in Rwanda, focusing on the Karame Twaje Project. Data were collected using questionnaires. The model explained 75.8% of the variation in performance of digitalized projects (R Square = 0.758). Risk identification had a positive significant effect (B = 0.371, Std. Error = 0.067, Beta = 0.367, t = 5.537, p = 0.000); risk analysis was positive and significant (B = 0.118, Std. Error = 0.058, Beta = 0.120, t = 2.034, p = 0.045); risk mitigation was positive and significant (B = 0.187, Std. Error = 0.064, Beta = 0.180, t = 2.922, p = 0.004); and risk monitoring was also positive and significant (B = 0.281, Std. Error = 0.064, Beta = 0.294, t = 4.391, p = 0.000). The study concluded that systematic risk management strengthened the performance of the Karame Twaje Project and recommended continuous risk identification, documented risk analysis, timely risk mitigation measures, and routine risk monitoring of emerging digital risks. Management should formalize and periodically review the procedures used for risk identification so that responsibilities, timelines, evidence requirements, and follow-up actions remain clear to all relevant actors.