Get the complete project »
- The Complete Research Material is averagely 86 pages long and it is in Ms Word Format, it has 1-5 Chapters.
- Major Attributes are Abstract, All Chapters, Figures, Appendix, References.
- Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
- Full Access Fee: ₦4,000
1.1 BACKGROUND OF THE STUDY
It is a known fact that the Nigerian construction industry continues to occupy an important position in the nation’s economy even though it contributes less than the manufacturing or other service industries, (Aibinu and Jagboro, 2002). The contribution of the construction industry to national economic growth necessitates improved efficiency in the industry by means of cost effectiveness and timeliness, and would certainly contribute to cost savings for the country as a whole. It is also common knowledge that the implementation of the construction project in the industry is usually accompanied with time delay and cost increase as well as owner dissatisfaction (Hafez, 2001).
In general most (if not all), construction projects experience time delays and cost overruns during their implementation phase (Koushki and Kartam,2004). Numerous researchers, both in the developed and developing nations have also examined and identified the causes of time and cost overrun in the construction industry. Mansfield, Ugwu and Doran (1994), for example performed a comprehensive analysis of most important factors responsible for project delays and cost overrun in Nigerian construction projects. This analysis indicated poor contract management, financing and payment of completed works, change in site conditions, shortages of materials, design changes, subcontractors and nominated suppliers, other factors were price fluctuation inaccurate estimates, delays and additional works as factors responsible for project delays and cost overrun.
A comprehensive classification of causes of construction delays has also been determined by Henesy (1993). The classification system included materials, labour, equipment and financial constraints, as the main contributory variable to causes of construction time overrun. The list of major factors causing construction delay in Thailand by Ogunlana and Proumkunting (1996) included the inadequacy of resources supplies, client and consultant shortcomings and incompetence. Koushki and Kartan (2004) studied the impact of construction materials on project time and cost in Kuwait and identified the project related variable affecting the on time delivery of materials as material selection, time, type of materials and their availability in the local market.
Time impacts are inevitable on construction projects, primarily because of the uniqueness of each project and the limited resources of time and money that can be spent on planning, executing and delivering the project.
Time factors are inherent in all of project construction’s undertakings. Construction projects have long been recognized as particularly cost, time and risk-laden. Some of the time and cost factors associated with the construction process are fairly predictable or identifiable; others may be totally unforeseen. The constructed project may not perform as anticipated because the owner may have unrealistic expectations regarding the delivery time of construction forcing contractors into unrealistic gambles, corner-cutting or commitments that may not be realistic (Frimpong 2003).
Project success can be defined as meeting goals and objectives as prescribed in the project plan. A successful project means that the project has accomplished its technical performance, maintained its schedule, and remained within budgetary costs. Project management tools and techniques play an important role in the effective management of a project. Therefore, a good project management lies in the management tools and techniques used to manage the project. Project management involves managing the resources—workers, machines, money, materials and methods used. Some projects are effectively and efficiently managed while others are mismanaged, incurring much delay and cost overruns and negatively affecting the economy (Frimpong 2003).
Assessing construction projects’ delivery time is critical in today’s market-driven economy.
1.2 PROBLEM STATEMENT
Construction can be considered as a dynamic industry which is constantly facing uncertainties. These uncertainties and the many stakeholders in these kinds of projects, make the management of costs difficult which consequently causes cost overruns. Therefore, cost overruns are considered one of the most critical issues during the execution of construction projects (Chan, et al., 2004; Doloi, 2011).
As mentioned by Van Der Westhuizen and Fitzgerald (2005), the presence of cost overruns can be a reason for project delays or possible project failures. However this idea has been refuted by many authors who considered that project success depends on many other factors that should be assessed to conclude the success or failure of a project (Chan, et al., 2004). Moreover, there have been many studies that suggest that the success of a project depends on the presence of certain critical factors which can also change depending on the objective to be met (Iyer and Jha, 2005). In other words, some authors ascertained that there are some critical success factors that help to improve cost performance and prevent cost overruns.
1.3 OBJECTIVES OF THE STUDY
The main aim of the study is to examine various cost control techniques used in construction projects and the impact they have on project delivery. Specific objectives of the study are:
· To identify cost control technique frequently used by contractors in construction projects.
· To examine problems encountered by contractors in managing construction project cost.
· To determine the impact of costcontrol techniques on the duration of construction projects.
1.4 RESEARCH QUESTIONS
In-order to guide the study and achieve the above stated research objectives; the following research questions were formulated:
· What cost control techniques are frequently used by contractors in construction projects?
· What are the problems faced by contractors in controlling cost in the construction project process?
· What impact does cost controlling techniques have on the duration of construction projects?
1.5 RESEARCH HYPOTHESES
1. Ho: Cost control problems do not lead to project delivery failures.
Hi: Cost control problems lead to project delivery failures.
2. Ho: Cost Control techniques affect to construction delivery timing and cost
Hi: Cost Control techniques do not affect to construction
delivery timing and cost
1.6 SIGNIFICANCE OF THE STUDY
This study will be of importance to building professionals and the general public because it would not only clarify but also create awareness of the extent to which inadequacies in cost control techniques can adversely affect project performance. The study will also help contractors, clients, consultants and all parties involved in construction projects about ways of improving their current method of cost management and control.
The study will also be of great benefit for other student researchers’ who may want to venture into the same subject matter. Having gotten results-both empirically and theoretically, the study will serve as a foundation for future research studies.
1.7 SCOPE OF THE STUDY
The study will cover some selected quantity surveyors from Owerri. All findings and recommendations from the study may not reflect the true view of the traditional roles and changing roles of quantity surveyors as the researcher could not cover a wider area due to financial and time constraints.
1.8 DEFINITION OF TERMS
1. Construction: In the fields of architecture and civil engineering, construction is a process that consists of the building or assembling of infrastructure. Far from being a single activity, large scale construction is a feat of human multitasking. Normally, the job is managed by a project manager, and supervised by a construction manager, design engineer, construction engineer or project architect.
2. Deliverable: Deliverabl
You either get what you want or your money back. T&C Apply
You can find more project topics easily, just search
SIMILAR BUSINESS MANAGEMENT FINAL YEAR PROJECT RESEARCH TOPICS
1. EFFECTIVE OF ENTREPRENEURIAL CHARACTERISTIC ON HOSPITALITY BUSINESS(CASE STUDY OF SOME SELECTED HOTELS IN ABUJA)» CHAPTER ONE INTRODUCTION 1.1 Background of the study The industrialization of any nation is dependent on the activities of the entrepreneur. This is b...Continue Reading »
» Abstract This study is on an assessment of the marketing segmentation on production planning in organization. The total population for the study is 20...Continue Reading »
3. IMPACT OF STRATEGIC PLANNING ON BUSINESS GROWTH IN NIGERIA (A CASE STUDY OF AKWA IBOM WATER COMPANY LTD. UYO)» ABSTRACT This study is conducted to examine the Topic: Impact of Strategic Planning on Business Growth in Nigeria, A Case Study of Akwa Ibom Water Com...Continue Reading »
» CHAPTER ONE INTRODUCTION 1.1 Background of the study Many scholars have written widely on small scale industries and its potency to generate employmen...Continue Reading »
5. IMPACT OF CORPORATE STRATEGY ON FINANCIAL PERFORMANCE OF FINANCIAL INSTITUTIONS LISTED ON THE NIGERIA STOCK EXCHANGE» CHAPTER ONE INTRODUCTION 1.1 Background of the study Corporate strategy is part of managerial economics that described the scope and direction of an o...Continue Reading »
» ABSTRACT This study was carried out on the impact of manpower training and development as a tool for organizational productivity. The study was limite...Continue Reading »
» Abstract This study was designed to give an insight in the effect of poor management in private owned establishment.In attempt to focus the study ther...Continue Reading »
8. EMPLOYEE RELATIONSHIP & ITS EFFECT ON ORGANISATIONAL PERFORMANCE - SOUTH AKIM RURAL BANK, KOFORIDUA, GHANA.» ABSTRACT One of the most pressing issues facing most organizations today is the need to raise employee productivity. There is a widespread belief that...Continue Reading »
9. THE ROLE OF LEADERSHIP PARTICIPATION IN PROMOTING COOPERATIVE SOCIETY [A STUDY OF KRPC MULTI- PURPOSE COOPERATIVE SOCIETY LTD)» CHAPTER ONE INTRODUCTION 1.1 Background of the Study Leadership is as old as human being, there is no human endeavour that does not require proper lea...Continue Reading »
10. ROLE OF MANAGEMENT IN MOTIVATING WORKERS IN THE BANKING SECTOR (A CASE STUDY OF FIRST BANK NIG. PLC. ENUGU)» ABSTRACT This project work was carried out to determine the role of management in motivating workers in banking sector, using first Bank Nig. Plc, Okp...Continue Reading »