Impact of Risk Mitigation and Project Management Tools on Organizational Performance: Evidence from Malaysian Organizations

Authors

  • Tamutaran Ravichandran Tun Razak Graduate School, Universiti Tun Abdul Razak, Kuala Lumpur, Malaysia
  • M. Reyasudin Basir Khan Tun Razak Graduate School, Universiti Tun Abdul Razak, Kuala Lumpur, Malaysia https://orcid.org/0000-0002-9964-6826

DOI:

https://doi.org/10.56532/mjbem.v3i2.68

Keywords:

Organizational Performance, Effective Communication, Project Planning, Risk Mitigation, Malaysia

Abstract

Organizations in Malaysia face significant challenges in project management due to rapid changes and increasing complexity in the business environment. This study aims to examine the relationships between effective communication, project planning, risk mitigation, project management tools, and organizational performance in Malaysian organizations. The objectives are to identify which factors significantly impact organizational performance and to provide insights for improving project management practices. The study utilized a quantitative approach, collecting data from a heterogeneous sample of employees across various industries in Malaysia. Multiple regression analyses were employed to assess the significance and strength of these relationships. The findings indicate that risk mitigation (β = 0.45, p < 0.01) and project management tools (β = 0.38, p < 0.01) have a significant positive impact on organizational performance. However, effective communication (β = 0.12, p > 0.05) and project planning (β = 0.15, p > 0.05) did not show statistical significance. These, results suggest that while communication and planning are important, the effective utilization of risk mitigation strategies and the adoption of advanced project management tools are crucial for enhancing performance outcomes. Managers should prioritize these areas to maximize organizational performance. This study provides empirical evidence from the Malaysian context, contributing to the understanding of project management practices and their impact on performance. The study is limited by its cross-sectional nature and potential response bias. Future research should consider longitudinal data and qualitative methods to explore the dynamic relationships among these variables.

References

Aboelmagd, Y. M. (2020). Smart critical path method as a modified detailed scheduling technique. JES. Journal of Engineering Sciences, 48(1), 1-10.

Akhtar, P. (2018). Challenges and opportunities for humanitarian researchers: Dreadful biases and heavenly combinations of mixed methods. In G. Kovács, K. Spens, & M. Moshtari (Eds.), The Palgrave handbook of humanitarian logistics and supply chain management (pp. 121-147). Palgrave Macmillan.

Albaidhani, I., Romero-Torres, A., & Meddeb, B. (2018). Prodjecting the future: New product-project development: The Prod-ject management system. The Journal of Modern Project Management, 6(2).

Almeida, D., Pasupuleti, J., Raveendran, S. K., & Basir Khan, M. R. (2021). Performance evaluation of solar PV inverter controls for overvoltage mitigation in MV distribution networks. Electronics, 10(12), 1456. https://doi.org/10.3390/electronics10121456

Anusuya, V., & Balasowandari, P. (2017). Critical path with various distances of type-2 fuzzy numbers. International Journal of Fuzzy Mathematical Archive, 13(1), 1-7.

Arefazar, Y., Nazari, A., Hafezi, M. R., & Maghool, S. A. H. (2022). Prioritizing agile project management strategies as a change management tool in construction projects. International Journal of Construction Management, 22(4), 678-689.

Bagshaw, K. B., & Nissi, K. L. (2019). Trend in viewing quantitative analysis as a primary function involving decision making in organisations. American Journal of Industrial and Business Management, 9(06), 1492.

Becker, K., & Smidt, M. (2015). Workforce-related risks in projects with a contingent workforce. International Journal of Project Management, 33(4), 889-900.

Bogojevic, P. (2020). Project management in data warehouse implementations: A literature review. IEEE Access, 8, 225902-225934. https://doi.org/10.1109/ACCESS.2020.3045072

Bouwman-Boer, Y., & Møller Andersen, L. (2015). Quality risk management. In Y. Bouwman-Boer, V. Fenton-May, & P. Le Brun (Eds.), Practical pharmaceutics: An international guideline for the preparation, care and use of medicinal products (pp. 423-434). Springer.

Caldas, C., & Gupta, A. (2017). Critical factors impacting the performance of mega-projects. Engineering, Construction and Architectural Management, 24(6), 920-934.

Caldwell, C., Floyd, L., Taylor, J., & Woodard, B. (2014). Beneficence as a source of competitive advantage. Journal of Management Development, 33(10), 1057-1079.

Can Saglam, Y., Yildiz Çankaya, S., & Sezen, B. (2021). Proactive risk mitigation strategies and supply chain risk management performance: An empirical analysis for manufacturing firms in Turkey. Journal of Manufacturing Technology Management, 32(6), 1224-1244. https://doi.org/10.1108/JMTM-08-2019-0299

Chen, Z., & Qian, J. (2017). How does coworker political behavior thwart individual taking charge? Paper presented at the Academy of Management Proceedings.

Chipulu, M., Ojiako, U., Marshall, A., Williams, T., Bititci, U., Mota, C., ... Stamati, T. (2019). A dimensional analysis of stakeholder assessment of project outcomes. Production Planning & Control, 30(13), 1072-1090. https://doi.org/10.1080/09537287.2019.1567859

Comstock, G. (2012). Research ethics: A philosophical guide to the responsible conduct of research. Cambridge University Press.

Cruz, A., Tereso, A., & Alves, A. C. (2020). Traditional, agile and lean project management: A systematic literature review. Journal of Modern Project Management, 8(2), 86-95. https://doi.org/10.19255/JMPM02407

Danchuk, V., Shlikhta, H., Usova, I., Batyrbekova, M., & Kuatbayeva, G. (2021). Integrated project management systems as a tool for implementing company strategies. Periodicals of Engineering and Natural Sciences, 9(4), 259-276.

Daniel, P. A., & Daniel, C. (2018). Complexity, uncertainty and mental models: From a paradigm of regulation to a paradigm of emergence in project management. International Journal of Project Management, 36(1), 184-197.

Dasović, B., Galić, M., & Klanšek, U. (2020). A survey on integration of optimization and project management tools for sustainable construction scheduling. Sustainability, 12(8), 3405.

De Sutter, E., Zaçe, D., Boccia, S., Di Pietro, M. L., Geerts, D., Borry, P., & Huys, I. (2020). Implementation of electronic informed consent in biomedical research and stakeholders’ perspectives: Systematic review. Journal of Medical Internet Research, 22(10), e19129.

Goryachev, A., Goryachev, A., Monakhov, A., & Novakova, N. (2016). Calculating critical path: comparison of heuristic methods. Paper presented at the 2016 XIX IEEE International Conference on Soft Computing and Measurements (SCM).

Hair Jr, J. F., LDS Gabriel, M., Silva, D. d., & Braga, S. (2019). Development and validation of attitudes measurement scales: fundamental and practical aspects. RAUSP Management Journal, 54(4), 490-507.

Hanief, A., Pratama, A. T., & Awibowo, S. (2020). Project Management System Development for Improving Infinitigroup Project Performance. Paper presented at the Proceedings of the 2021 International Conference on Engineering and Information Technology for Sustainable Industry.

Khan, M. R. B., Jidin, R., & Pasupuleti, J. (2016). Energy audit data for a resort island in the South China Sea. Data in brief, 6, 489-491. https://doi.org/10.1016/j.dib.2015.12.033

Khan, M. R. B., Jidin, R., & Pasupuleti, J. (2016). Data from renewable energy assessments for resort islands in the South China Sea. Data in brief, 6, 117-120. https://doi.org/10.1016/j.dib.2015.11.043

Momeni, K., & Martinsuo, M. M. (2018). Allocating human resources to projects and services in dynamic project environments. International Journal of Managing Projects in Business, 11(2), 486-506. doi:10.1108/IJMPB-07-2017-0074

Nasim, R., & Mustafa, T. (2015). Agile Software Development and its successful factor: A literature review. International Journal of Management, IT and Engineering, 5(4), 286-292.

Picciotto, R. (2020). Towards a ‘New Project Management’ movement? An international development perspective. International Journal of Project Management, 38(8), 474-485. doi:https://doi.org/10.1016/j.ijproman.2019.08.002

Rezaee, M. J., Yousefi, S., & Chakrabortty, R. K. (2019). Analysing causal relationships between delay factors in construction projects: A case study of Iran. International Journal of Managing Projects in Business, 14(2), 412-444.

Schnackenberg, A. K., & Tomlinson, E. C. (2016). Organizational transparency: A new perspective on managing trust in organization-stakeholder relationships. Journal of management, 42(7), 1784-1810.

Seet, C. C., Pasupuleti, J., & Khan, M. R. B. (2019). Optimal placement and sizing of distributed generation in distribution system using analytical method. International Journal of Recent Technology and Engineering, 8(4), 6357-6363. https://doi.org/10.35940/ijrte.D5120.118419

Zahraoui, Y., Alhamrouni, I., Mekhilef, S. and Khan, M.R.B., 2022. Machine learning algorithms used for short-term PV solar irradiation and temperature forecasting at microgrid. In Applications of AI and IOT in Renewable Energy (pp. 1-17). Academic Press https://doi.org/10.1016 /B978-0-323-91699-8.00001-2

Downloads

Published

20.08.2024

Issue

Section

Articles