Assessment of Project Risk Management Practice: The case of Bole Lemi Industry Park, Addis Ababa, Ethiopia

It has been a long time since the development of industrial parks started in Ethiopia, but so far it has not achieved the expected growth. Most of the IP Constructions are aimed at attracting foreign investors rather than local investors. The IPs to be built should be well organized and infrastructures should be complete. Primarily, they must implement effective project management; If they cannot do this, they cannot be globally competitive. One of the main characteristics of effective project management is the implementation of systematic and formal project risk management.It is necessary to take into account the possibility of high risk in IP projects. If the project does not take into account the environmental and social aspects of the community, the duration of future development projects will be more dangerous. To solve this, when this study was conducted, the community was included by taking a sample of their understanding of the industrial park, and it was found that most of the employees and project managers do not have sufficient knowledge and skills in project risk management.