Influence of Risk Management Strategies on Implementation of Women Development Programs: a Case of African Women's Entrepreneurship Program Nairobi County, Kenya

Abstract

The purpose of this study was to examine the influence of project risk strategies on implementation of women entrepreneurship development programs in Nairobi County. The specific objectives of the study were to: Examine the influence of risk avoidance strategy, risk reduction strategy, risk retention strategy and risk transfer strategy on implementation of women development programs in Nairobi County. The study reviewed studies on risk management strategies and implementation of women development programs. The study was guided by three theories namely: The Agency theory, the utility theory and the uncertainty Theory. This study employed a descriptive research design since it is more precise and accurate and also it involves description of events in a well-planned approach. The target population comprised of 44 women group leaders and the 131 staffs from various departments at African Women's Entrepreneurship Program offices in Nairobi making up a total of 175 respondents. Stratified sampling technique was used to arrive at a sample size of 111 staffs. A census method was used to select 44 women group leaders. A semi-structured questionnaire was utilized to gather primary data. The questionnaire had a Likerts scale that made certain uniformity in response and encourage involvement. The collected data was edited to remove errors and spot any inconsistencies and identify any problems resulting from the use of the questionnaire. Both descriptive and inferential analysis was carried out. The regression analysis indicated that the four risk management strategies examined in the study had significant influence on program implementation. This study recommended that organizations undertaking women entrepreneurship development programs should ensure utilization of various strategies to avoid risks, to reduce risk programs, teams should improve preparation of risk plans, ensure effective identification and documentation of past program risks. Further, the program teams should ensure reserve funds to sustain uncertainty, ensure they have realistic budgets and anticipate risks and lastly, to improve the implementation of women entrepreneurship development programs the program teams at AWEP, Kenya should allow finance institutions to take part and also the program teams draw contracts that bind other partners.