RISK MANAGEMENT SYSTEM AND PERFORMANCE OF OIL AND GAS PIPELINE PROJECTS IN SOUTH-SOUTH, NIGERIA
Keywords:
Risk management system, Performance, Technology Capability, Pipeline Projects, South-South, NigeriaAbstract
This study investigated the relationship between risk management system and performance of oil and gas pipeline projects in South-South: Moderating the role of Technology Capability. A sample of 399 respondents were drawn across oil and gas pipeline projects in South-South. The study utilized the cross-sectional research design. The study adopted a survey research design and relied on primary data collected through a closed-ended structured questionnaire administered to employees of oil and gas firms across the region. Using stratified random sampling, the sample size was determined through the Taro Yamane formula, and proportional allocation was applied across the states in the South-South region. Data were analyzed with Structural Equation Model-Partial Least Squares (SEM-PLS) version 4.0 statistical tools to test the hypotheses and establish relationships among the variables. Based on the results and empirical evidence, this research revealed that all the risk management system utilized in the analysis are linked directly with the performance of oil and gas pipeline projects. The research concludes that all four dimensions of risk management system have varying effect and influence on the performance of oil and gas pipeline projects. Their effects are largely small. Given that risk management committees were not significantly associated with cost control, oil and gas firms should complement committee oversight with dedicated cost engineering units that monitor financial variances and introduce proactive cost optimization techniques.
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