EFFECT OF PROJECT MANAGEMENT TOOLS ON OPERATIONAL EFFICIENCY IN SELECTED COMMERCIAL BANKS IN KENYA
Keywords:
Project Management Tools, Project Planning and Tracking Tools, Project Automation Tools, Operational Efficiency, Commercial BanksAbstract
The study aimed to investigate the effect of project management tools on operational efficiency within the banking sector, specifically focusing on selected commercial banks in Kenya. The primary objective was to examine how project management tools influenced operational efficiency in these banks. A quantitative research design was employed, utilizing structured questionnaires to collect data from a target population of 46 commercial banks listed by the Central Bank of Kenya. To ensure a representative sample, purposive random sampling was used to select five commercial banks Absa Bank, Bank of India, National Bank, Equity Bank, and Family Bank while stratified random sampling was applied to select 140 employees from relevant departments. A pilot test was conducted at Kenya Commercial Bank (KCB) in Nairobi City County to refine the research instruments. Content validity was ensured through expert input, and reliability was assessed using Cronbach's alpha coefficient. Data analysis involved descriptive statistics, correlation, and regression analysis using SPSS to examine the relationships between project management tools and operational efficiency. The study concludes that project planning and tracking tools have a positive and significant effect on operational efficiency in selected commercial banks in Kenya. In addition, the study concludes that project automation tools have a positive and significant effect on operational efficiency in selected commercial banks in Kenya. Based on the findings, the study recommends that commercial banks should strengthen project planning and tracking tools by adopting advanced data acquisition and cost management systems to enhance decision-making. Additionally, increasing the adoption of project automation tools will optimize operational workflows, reduce errors, and improve resource utilization.
Key Words: Project Management Tools, Project Planning and Tracking Tools, Project Automation Tools, Operational Efficiency in Selected Commercial Banks
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