HAZARD RISK MANAGEMENT AND CONTROLS IN AN ORGANISATIONS

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ABSTRACT

Project hazard risk management practice has been improved on the past decades due to the publication of different literatures in the area of the study. Companies all over the world persuade project hazard risk management practices to achieve the project objectives within the budget, time, scope, and of quality product. The general objective of the study was to investigate the effect of project hazard risk management practice and project organization on Organizations success in Glo Telecom. The study adopted quantitative method and the descriptive as well as correlational research design. For the proper accomplishment of the study, the primary data were collected using Likert scale type questionnaire by distributing to and collecting from the Organization implementers and hazard risk management employees in Glo Telecom. The analysis includes descriptive, correlation, regression and ANOVA. The major finding of the study indicated that project hazard risk management practice i.e. hazard risk management planning, risk identification, risk analysis, risk response planning, and risk monitoring and control has significant effect on the success of Organizations in Glo Telecom. On project organization the study also showed its significant effect on the success of the projects and on the practicing of hazard risk management. However, project management practices are poorly practiced in the company in all aspect of the processes and the organization structure that is in use for project lacks to support the hazard risk management process. Hence, to proactively avoid the challenges of poorly practiced project hazard risk management variables, the researcher recommends to follow processes of hazard risk management planning, identification, analysis, response, monitoring and control; to promote the use of standard and useful tools, techniques, and methods both qualitative and quantitative, to improve the involvement of stakeholder in risk identification, to enhance the project organization implementation in a way to support hazard risk management, to have appropriate response plan and improve continuous monitoring and control of risk.

CHAPTER ONE

INTRODUCTION

1.1 Background of the study

Glo Telecom is government owned telecom operator in Nigeria. The company has been operating as a sole company for the telecom service since 1894 G.C. (Glo Telecom, 2018). During these period Glo Telecom had execute so many projects in order to fulfil its business objective and satisfy radically growing customer need and base. These projects helped the company to maximize its capacity and expand the products and services it provides (Glo Telecom, 2018).

In 2007 G.C. the Glo Telecom had execute a massive expansion project called NGN (next generation project) through vendor financing with Chinese integrator company call ZTE (Glo Telecom, 2011). The project was aimed to support 30 million subscribers with voice, SMS, and Data related services (Glo Telecom, 2011). The project was a three-year project and had budgeted $1.5billion (Glo Telecom, 2011). Starting from 2010 the many projects like, ERP, eTop-up, eCAF, DWH&BI, EIR were executed to support the company operations and strategic initiatives (Glo Telecom, 2011).

In 2015 the company had engaged companies for the second big expansion with a project called Telecom Expansion Program (TEP) (Glo Telecom, 2016). The project was a two-year project and had budgeted $1.5billion. the main objective of the project was to support the rapidly growing customer base and the demand for new products and features with better quality (Glo Telecom, 2016).

In executing more and more telecom projects companies face with more risk and uncertainty than ever before. Companies expect more and they do not want surprises in executing projects. These things make any company to think more about the relationship between these new risks and uncertainties and the success of the project they are executing and forced them to ask ―Does hazard risk management contribute to project success? (Al-Shibly Associate prof, H. H., Louzi, B. M., & Hiassat, M. A., 2013) Hazard risk management has become an important part of the management process for any project.

Organization management includes overseeing projects for software development, hardware installations, network upgrades, cloud computing and virtualization rollouts, business analytics and data management projects and implementing IT services (TechTarget, 2015)

In addition to the normal problems that can cause a project to fail, factors that can negatively affect the success of an Organization include advances in technology during the project’s execution, infrastructure changes that impact security and data management and unknown dependent relationships among hardware, software, network infrastructure and data (Bakker, K. De. 2011). Organizations may also succumb to the first-time, first-use penalty which represents the total risk an organization assumes when implementing a new technology for the first time. Because the technology hasn’t been implemented or used before in the organization, there are likely to be complications that will affect the project’s likelihood of success (TechTarget, 2015).