Effect of Risk Management Strategies on Project Performance: A Case of BK Quick+ Project in Bank of Kigali, Rwanda

Clarisse Umuhoza and Ruth Odengo
University of Kigali
https://orcid.org/0009-0003-8572-0081
Email: umuhoza57@gmail.com

Abstract: The general objective of this study was to assess the effect of Risk Management Strategies on project performance, focusing on the BK Quick+ Project implemented by the Bank of Kigali. Specifically, the study examined the effect of risk identification, assessed the effect of risk analysis, and controlled how risk monitoring and control shaped performance outcomes in the BK Quick+ Project. The study guided by Theory of Constraints, Resource Based View Theory, and Theory of Change. Quantitative data analyzed using SPSS version 26 through descriptive statistics, Pearson correlation, and multiple regression to determine how each risk component predicted project performance. The regression findings revealed that risk identification had a positive and significant effect on performance of BK Quick+ Project in Bank of Kigali with B = 0.223, t = 3.845, and p = 0.000. Risk analysis also had a positive and significant effect on performance of BK Quick+ Project with B = 0.247, t = 5.146, and p = 0.000. Risk monitoring and control had the strongest positive and significant effect on performance of BK Quick+ Project with B = 0.376, t = 5.875, and p = 0.000. The study concluded that risk identification, risk analysis, and risk monitoring and control significantly improve performance of BK Quick+ Project in Bank of Kigali. Bank of Kigali should strengthen regular risk identification, systematic risk analysis, and continuous risk monitoring and control to improve timely completion, cost adherence, quality conformity, and scope performance of BK Quick+ Project.