Abstract: The purpose of this paper is to examine the management of risk issues in procurement. A mixed method approach and explanatory cross-sectional research design were employed. The sample size formed more than 50% of the population of staff at the Ghana Technology University; working directly with the procurement unit. Findings revealed that, procurement risks do not significantly affect the organizational performance of the institution. However, qualitative probing showed that, the procurement risks translate into poor service quality (slow working activities, ineffective teaching and learning). Moreover, interferences/disruptions and resources challenges were the greatest risk issues in procurement which can reduce procurement risks by 39% if managed properly. Also the results showed that, risk issues in procurement are high and require a relatively higher management approaches – such as elimination or simplification of some bureaucratic procedures, proactive work dynamics, early submission of proposals and budgets– to mitigate them. Furthermore, the selection and training of qualified personnel were key in mitigating risk issues in procurement. It was therefore recommended that, the procurement processes at Ghana Technology University be reviewed periodically so that, the bureaucratic processes that impede successful outcomes are either eliminated or simplified.
Keywords: Procurement, Risk, Management, Quality, Resources, Procedures, Bureaucratic, Interference.
Title: EXAMINING THE MANAGEMENT OF RISK ISSUES IN PROCUREMENT: A CASE STUDY OF GHANA TECHNOLOGY UNIVERSITY COLLEGE
Author: Boison David King, Amoah Cornelius Kwarkoh, Asiedu Esther, Ofori-Nyarko Ernest, Addison Linda, Martey Georgina Kafui
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
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