Project Management Practices and Performance of Financial Technology Projects in Nairobi, Kenya

Abstract

The researchers in this study set out to answer the question, "How do project management methods in Nairobi, Kenya's financial technology firms affect the success of individual projects?" This study's objectives were to determine the impact of project planning, labor management, resource allocation, and monitoring on the success of projects at financial technology firms in Nairobi, Kenya; to establish the impact of project planning; to assess the impact of labor management; to determine the impact of resource allocation; and to determine the impact of monitoring on the success of projects. Theories of project management's essential tenets, such as the theory of limitations and the resource-based approach, will serve as our guides. A total of 214 high-ranking officials, project managers, and business development managers from 91 Kenyan fintech firms were surveyed. The selection process consisted of using a straightforward random sampling procedure, which means that the 139 individuals who made up the sample are statistically representative of the whole population as a whole. For the purposes of this investigation, questionnaires served as the main instrument for data collection. We were able to get the numerical data necessary for analysis by restricting the questions to those requiring just brief responses. In addition, the data were encoded via the use of a system that consisted of signs, symbols, and numerical representations. SPSS, which stands for the Statistical Product for the Social Sciences, was used to do the analysis on the data. From the information that we have gathered, was able to construct descriptive statistics such as frequency distributions and percentages, as well as measures of central tendency such as means and standard deviations. A method known as "thematic analysis" is a process that may be used to derive significant themes from vast volumes of qualitative data. Inferential statistics such as regression analysis, correlation analysis, and analysis of variance were used by the researcher so that she could get a deeper comprehension of the interplay that occurs between the dependent and independent variables. Financial technology initiatives in Nairobi, Kenya, were shown to benefit from better project management approaches, according to the research. In addition, there is some evidence that indicates that labor management has an impact on the success of financial technology initiatives with a composite mean of 3.69.Labour management affect performance of financial technology projects to modest level with a composite average score of 3.74.There is a modest correlation between how well resource management is handled with a composite average score of 3.85 and how well financial technology initiatives turn out. Financial technology initiatives benefit from close monitoring and review to a reasonable degree with a composite average score of 3.79.Consequently, the research suggests that businesses institute measures to encourage employee involvement in the planning stages of projects. Financial technology companies may improve their completion rates by improving the sequencing and scheduling of project activities that are tied to the final product.