Enterprise risk management (ERM) practices and it’s contribution to the success of CDF projects in Bungoma County —Kenya

Abstract

The purpose of this research was to establish enterprise risk management (ERM) practices and its contribution to the success of CDF projects in Bungoma County Kenya. The study targeted 420 CDF projects where a sample size of 204 was used. The researcher used questionnaires, interview schedule and focus group discussions to collect data. The study established that ERM practices have important contributions to the success of CDF projects yet close to over 75% of the respondents indicated that most of the sixteen ERM practices are not applied as determinants of enterprise risk management of the CDF projects in Bungoma County. To have successful completion of CDF projects therefore the researcher recommends full adaption and implementation of ERM practices through training of the project stakeholders, Also continuous risk analysis to identify, address, and handle risks before they become threats to success, and, this preliminary risk analysis framework could enable the realization of a continuous risk analysis for CDF projects.