Resource Administration Practices and Implementation of Projects in Savings and Credit Cooperative Organizations in Bomet County, Kenya
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Date
2024-11
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Kenyatta University
Abstract
Savings and Credit Cooperative Organizations (Saccos) play a crucial role in promoting financial inclusion and economic development in Kenya, particularly in rural areas like Bomet County. However, many Saccos struggle with project implementation, hindering their growth and member benefits. Only about 40% of projects in Bomet are completed on time, with 35% facing delays of over six months. Additionally, project costs exceed budgets by an average of 25%, and 60% of Saccos report funding shortages that negatively impact execution. Therefore, this study sought to investigate the influence of resource administration practices influences the implementation of projects in Saccos in Bomet County, Kenya. The specific objectives of the study were to examine the influence of resource scheduling, resource allocation, resource monitoring, and resource planning on the implementation of projects in Saccos in Bomet County, Kenya. The study was guided by resource-based view theory, resource dependency theory, and theory of constraints. This research utilized a descriptive design, focusing on five projects: SACCO automation, digital banking, savings and loans, FOSA services, and land acquisition. The sample included 642 SACCO project managers and team members, selected through stratified sampling. Data were collected via surveys, with a preliminary test conducted in Baringo County involving 10 participants to ensure reliability and validity. Reliability was assessed using Cronbach's alpha, while validity was evaluated through content and construct analysis. Results were presented in tables and figures, including mean and standard deviation calculations, and inferential statistics were applied using multiple regression analysis. Diagnostic tests for multicollinearity, normality, linearity, homoscedasticity, and autocorrelation were also conducted. The research discovered that the effective scheduling, allocation, monitoring, and planning of resources had a notably positive influence on project execution within Savings and Credit Cooperative Organizations (Saccos) in Bomet County, Kenya. This discovery indicates a strong positive association, where an increase in resource scheduling, allocation, monitoring, and planning leads to a rise in project implementation within Saccos in Bomet County, Kenya. Consequently, it can be deduced that the independent variables displayed a robust correlation with the dependent variable. The investigation concludes that project managers utilize resource scheduling as a tool to appropriately assign resources, thereby maximizing efficiency and averting work overload. Resource allocation empowers project managers to strategically select and assign available resources to tasks or projects in alignment with business objectives. Through resource monitoring, project managers can ensure that projects are accomplishing their objectives. Resource planning provides project managers with a more comprehensive understanding of the project life cycle. The investigation recommends that project managers compile a list of tasks that need to be completed, along with an estimation of the time required (in hours, days, or man-hours). Additionally, project managers should prioritize projects and determine the most suitable and available personnel to work on them. A project manager should monitor the progress of tasks and swiftly assess how much time each task was intended to take and how much time it actually took. It is crucial for project managers to carefully consider these aspects in advance, as they directly impact the project scope, timeliness, and quoting process through the early identification of required resources. The study highlights the need for further research on unexplored resource management practices to address a 20.4% conceptual gap in the regression model. It specifically examined SACCOs in Bomet County, Kenya, suggesting that a broader study across various counties could effectively fill this contextual gap.
Description
A Research Project Submitted to the School of Business, Economics and Tourism in Partial Fulfilment of the Requirement for the Award of the Degree of Master of Business Administration (Project Management) of Kenyatta University, November 2024.
Supervisor
Gladys Kimutai