Risk Management Process and Performance of Force Account Projects in Tanzania

Abstract

If these risks are not effectively dealt with, they pose a challenge to the completion of the project. Therefore, risk analysis and management of risks is a major feature of project management in which project managers need to effectively deal with the risks and uncertainty to fully achieve the vision of the project. Project performance is determined by factors such as cost, customer satisfaction, time, health, client changes and business performance the concept of project delays as a result of risk is now a global phenomenon. The study's general objective was on risk management process and performance of force account projects in Tanzania: A case of Institute of Accountancy Arusha. The study was guided by the stakeholder's theory and agency theory. The study adopted a descriptive design and Quantitative research approach in order to determine how risk management practice concerning risk management process how the whole process affect the performance of force account projects in Tanzania. The study used primary data and the study employed semi- structured questionnaires to gather relevant information from a total of 52 participants The data collected was then analyzed using SPSS and the findings of the study were presented in tables. The study indicates that effective risk identification practices, including tools like documentation review and interviews, are crucial in force account performance projects at IAA. The findings emphasize the importance of proactive strategies and the creation of risk registers and risk report documents. The lower perception regarding proactive aspects indicate a potential area for improvement in incorporating risk assessment into contingency planning and threat identification. The findings suggest that effective risk treatment practices significantly contribute to the success of force account projects and however, there was a limited perception among respondents about the regular review, reassessment, and updating of the risk register. This process is crucial for evaluating changes in risk information and monitoring the status