Abstract
This paper aims to evaluate the sustainable project risk and stakeholder management for pension funds projects’ performance in Kenya. This paper highlights that current project management practices of Kenyan Pension Funds do not always ensure project success that secures desired market returns on these investments. The main problem with projects management practices being mentioned as planning, project implementation, cost and time overruns and quality achievement. As the pension schemes are also expected to continue to invest in alternative assets given the broadening of the allowable investment categories and to take advantage of the public infrastructural projects under the big four agenda (RBA, 2021), it becomes paramount to identify and implement sustainable project management practices for performance of the pension funds projects. The outcome of this paper showed that integration of risk management and stakeholder management practice was one of the key project management practices that would contribute towards pension funds projects' performance.
Highlights
Sustainable construction has become the new ‘Zeitgeist’ in recent years (Zhang et al, 2014) with project managers worldwide including in developing countries being expected to deliver projects in a sustainable manner (Dobrovolskienė and Tamošiūnienė, 2016; Du Plessis, 2007; Ortiz et al, 2009)
Immovable property accounted for 17.96 percent, equivalent to Kshs. 251.27 billion (RBA, 2021). This is the subject of focus of this study in determining the sustainable project management practices when investing these funds for performance of the pension funds projects
The results of applying a customisable Project Risk Management (PRM) framework is an implementable, project-specific risk management process that provides the best output with the quantity and quality of resources available
Summary
Sustainable construction has become the new ‘Zeitgeist’ in recent years (Zhang et al, 2014) with project managers worldwide including in developing countries being expected to deliver projects in a sustainable manner (Dobrovolskienė and Tamošiūnienė, 2016; Du Plessis, 2007; Ortiz et al, 2009). This is the subject of focus of this study in determining the sustainable project management practices when investing these funds for performance of the pension funds projects. The subject matter of focus was sustainable project management practices that influence and contribute to project performance with a specific study on pension funds projects in Kenya. Considering this was a desk review, content analysis was beneficial in allowing the researcher to comprehensively review the journal articles in identifying the sustainable project management practices. This study hypothesized that to enhance projects performance, the pension funds need to implement sustainable project management practices, take into consideration the governance practices as the mediating variables and focus on regulatory framework as a moderating variable. The results showed a positive correlation between the level of project definition and the use of project management practices, in particular the use of risk management
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