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ABSTRACT

This research is on understanding the implications of risk management on performance of selected federal health institutions in south east, Nigeria. The study sought to determine the extent to which risk identification affects organizational productivity in selected federal health institutions, ascertain the extent of the relationship between risk assessment and creativity in selected federal health institutions, determine the effect of risk response strategy on innovation in selected federal health institutions, determine the nature of the relationship between risk management and organizational effectiveness in selected federal health institutions and ascertain the extent at which internal environment affects organizational growth in selected federal health institutions. The study had a population size of 4535, out of which a sample size of 553 was realised using Freund and Williams’s formula at 5% error tolerance and 95% level of confidence. Instrument used for data collection was primarily questionnaire and interview. Out of 553 copies of the questionnaire that were distributed, 506 copies were returned while 47 were not returned. The descriptive survey research design was adopted for the study. The hypotheses were tested using Pearson product moment correlation coefficient and simple linear regression statistical tools. The findings indicate that risk identification significantly affects organizational productivity in selected federal health institutions (r = 0.764; F = 418.677; t= 13.516; p= 0.05 ) . There is a significant relationship between risk assessment and creativity in selected federal health institutions (r =. 955, p < .05). Risk response strategy has a significant effect on innovation in selected federal health institutions ( r = 0.782 ; F= 4.4103; tc = 9.149 > tt = 1.96; p < 0.05). There is a positive relationship between risk management and organizational effectiveness in selected federal health institutions (r =.583, p <. 05). Internal environment significantly affects organizational growth in selected federal health institutions ( r =

0.619 ; F= 313.489; tc = 9. 744 > tt = 1.96; p < 0.05). The study concluded that risk management is a corner stone of good corporate governance which must result in to better service delivery, efficient and effective use of scarce resources .The study recommended that risk management should be a common thread throughout the entire organization. The study recommends that all health institutions should critically carryout risk management programmes, so as to enjoy inherent benefits of the programme and there should be continuous training and development programmes for those who work under risk/safety and emergence units on how to assess risk, handle risk and manage risk for organizational effectiveness and Firms should integrate risk management into their organization’s philosophy, practices and business plans rather than being viewed or practiced as a separate programme and that would allow them to see risk management as a proactive activities rather than reactive.