Risk management as a managerial act is
gaining grounds in the Ghanaian manufacturing sector.
This can be associated with the fact that, effective risk
mitigation enhances effective resource allocation,
prevents wastage and reduces operational cost. Risk
management also calls for proper people management
and profit maximization.The study sort to identify
various risk management practices within the Ghanaian
plastic manufacturing industry to establish its
relationship and effect on operational performance.
The study adopted a quantitative approach, random
sampling approach was used for the study, this is the
most common and basic form of probability sampling,
where units or elements are chosen randomly from an
identified population with all elements having an equal
opportunity to be selected. The findings of the study
indicated that, there exists no correlation between RMP
and OP. The study also expressed that, RMP is a weak
predictor of OP.
Considering issues associated with Risk management
practices and Operational performance, the study
recommended key strategies such as risk insight, proper
risk reporting, diagnostics, risk strategy and
prioritization for effective management and
Risk Management, Practices, Operational Performance and Manufacturing Companies.