PROJECT MANAGEMENT RISK PRACTICES AND IMPLEMENTATION OF RENEWABLE ENERGY PROJECTS IN GEOTHERMAL WELLS IN OLKARIA NAKURU, KENYA

Henry Mwendia Muchira, Dr. Benard Lango

Abstract


Purpose: The main objective of this study was to examine the influence of Project Risk Management Practice on the implementation of renewable energy Projects in geothermal wells in Olkaria Nakuru County, Kenya.

Methodology: This research was guided by a positivism paradigm as a research philosophy and adopted the descriptive research design since it utilizes elements for both the qualitative and quantitative in a study. the target population was 125 respondents and is comprising of the stakeholders in the geothermal industry ranging from the managers of drilling companies, the engineers, the rig operators, the community around the wells as well as government agencies involved in the drilling in Olkaria in Naivasha, Kenya. The study unit of observation was the 41 drilled wells currently in operation. A census was adopted as the sampling method across the population as most of the population across the industry is homogenous

Findings: The study found significant statistical evidence from the descriptive analysis to indicate the existence of Risk Management Planning influence implementation of renewable energy projects in geothermal wells in Olkaria Nakuru County. Risk Management Planning also had a positive significant influence on implementation of renewable energy projects in geothermal wells in Olkaria Nakuru County. Risk assessment was found to significantly influence implementation of renewable energy projects in geothermal wells in Olkaria Nakuru County by 0.365 or 36.5%. In addition, the findings indicated that risk assessment had a positive significant influence on implementation of renewable energy projects in geothermal wells in Olkaria Nakuru County.

Recommendations: renewable energy projects in geothermal wells in Olkaria Nakuru County should come have with well-structured document on how to conduct risk appraisals of all the projects before the commencement of the projects. The high-risk projects can either be avoided or mitigation measures put in place to address them from inception. Risk management function of renewable energy projects in geothermal wells in Olkaria Nakuru County is combined with internal audit function hence it lacks the independence to implement risk objectives effectively

Keywords: Project management practices, renewable energy projects, risk management planning, risk assessment


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