| Abstract: | This thesis examines the assessment of project risk management practices in the case of the crop
area yield index shortfall insurance policy development project of the Ethiopian Insurance
Corporation (EIC). The study aims to identify and assess the overall project risk management
practices of the CAYIIP development project using the five key project risk management
processes: risk management planning, risk identification, risk analysis, risk response planning,
and risk monitoring and control. The research used descriptive design and also employs a mixedmethods approach, utilizing both quantitative and qualitative data collection techniques,
including questionnaires and semi-structured interview with the CAYIIP development project
team members. The study explores the project team's understanding and implementation of the
various risk management practices, as well as the strengths and weaknesses within each stage of
the risk management process. Primary data was generated from 20 project team members. The
secondary data consisted of feasibility analysis document of the project and EIC annual report.
The quantitative data was analyzed using SPSS version 23 software and qualitative data was
analyzed using narration method. The findings indicate that while the CAYIIP development
project has made efforts to incorporate project risk management practices, there are gaps and
areas for improvement. The study reveals there is a lack project risk management planning
process and challenges in the integration of quantitative and qualitative risk analysis, Lack of
comprehensive project risk identification process, the development of suitable risk response
strategies for positive risks (opportunities), and the effective monitoring and control of risks
throughout the project lifecycle. The study provides valuable insights for the Ethiopian Insurance
Cooperation and the broader insurance industry in Ethiopia. The recommendations aim to
enhance the project risk management capabilities of the organization, strengthen stakeholder
confidence, and contribute to the overall success and sustainability insurance policy
development Projects of Ethiopian Insurance companies. |
