Examining the Effects of Stakeholder Engagement and Risk Management Strategies on Project Performance: A Case Study of the Copperbelt Energy Corporation

Abstract

This study investigates the impact of stakeholder engagement and risk management strategies on project performance within Zambia’s Copperbelt Energy Corporation (CEC), a key player in the energy sector. It examines how these two factors influence critical project success indicators, including budget adherence, schedule compliance, quality of deliverables, and overall stakeholder satisfaction. Using a quantitative research design, data was collected through a structured questionnaire survey from a stratified random sample of 100 respondents. The findings reveal weak positive correlations between stakeholder engagement (r = 0.15) and risk management (r = 0.18) with project performance, suggesting that these strategies alone have a limited direct impact. Specifically, stakeholder engagement exhibited only a minor effect on schedule adherence (r = 0.15) and stakeholder satisfaction (r = 0.12). Similarly, CEC’s risk management strategies demonstrated a modest relationship with project outcomes (r = 0.18), implying that current practices may not be adequately customized to individual project needs. Furthermore, the combined effect of stakeholder engagement and risk management on overall project success was minimal (r = 0.14), indicating that opportunities for strategic integration remain underutilized. To enhance project performance, the study recommends incorporating leadership effectiveness, organizational culture, and external environmental factors into project management frameworks. Its further advocates for future research using larger, more diverse project samples and mixed-methods approaches to deepen insights and refine best practices in project management within the energy industry. Keywords: Stakeholder engagement; Risk management; Project performance; Copperbelt Energy Corporation (CEC); Energy sector