PROJECT COST CONTROL IN THE NIGERIAN CONSTRUCTION INDUSTRY (A CASE STUDY OF EL-ALAN CONSTRUCTION COMPANY (NIGERIA) LIMITED)


PROJECT COST CONTROL IN THE NIGERIAN CONSTRUCTION INDUSTRY (A CASE STUDY OF EL-ALAN CONSTRUCTION COMPANY (NIGERIA) LIMITED)   

TABLE OF CONTENT

Title page………………..i

Certification………….…ii

Dedication………………iii

Acknowledgement……….iv

Table of content……...…v

CHAPTER ONE

Introduction

1.1.    Background of the study

1.2.    Statement of the general problem

1.3.    Aims and objectives of the study

1.4.    Research questions

1.5.    Research hypothesis

1.6.    Significance of the study

1.7.    Scope of the study

1.8.    Limitation of the study

1.9.    Definition of terms

References

CHAPTER TWO

Literature review

2.1 introduction

2.2 cost management and cost control techniques Used in the construction industry

2.2.1 cost value reconciliation

2.2.2 the project budget

2.2.3 cost forecasting

2.2.4 schedule control

2.2.5 earned value analysis

2.2.6 variance analysis

2.3 relationship between construction project Delivery and cost

2.4 factors affecting construction cost and time Performance

2.5 factors causing project cost overruns

2.6 factors causing construction time delays

2.7 empirical literature

References

CHAPTER THREE

Methodology

3.1 research design

3.2 population of the study

3.3 sampling and sampling technique

3.4 instrument/method of data collection

3.5 validity and reliability of the instrument

3.6 method of data analysis

CHAPTER FOUR

Presentation and analysis of results

4.1 demographic information of the respondents

4.2 answers to the research questions

4.3 research hypothesis

CHAPTER FIVE

Summary, conclusion and recommendation

5.1    summary of findings

5.2  Conclusion and recommendation

Questionnaire

CHAPTER ONE

INTRODUCTION

Background of the study: PROJECT COST CONTROL IN THE NIGERIAN CONSTRUCTION INDUSTRY (A CASE STUDY OF EL-ALAN CONSTRUCTION COMPANY (NIGERIA) LIMITED)

Project cost controls in the Nigerian construction sector have always been under studied. On the course of prosecuting a project, controlling the cost of these projects would help in maintaining such projects from being too capital intensive which may lead to the project being abandoned. For every project to be successfully executed, its cost must have been analyzed and the cost from start to finish noted so as to prevent unnecessary contingency spendings which may hamper the complete execution of the project. Cost control includes monitoring cost, task completion, and time. If total cost of a project at a given time is over the cost baseline, cost control measures may be necessary. Such project management actions may range from ensuring that only tasks within the scope of the work are being performed to alerting stakeholders of potential cost overruns. As a project manager, it is important, professional, and ethical to identify and report on these issues as soon as they are identified.

Organizations whether private or government owned must complete projects on budget to achieve financial objectives and save cost. Project managers applying cost control techniques effectively can ensure that projects stay within projected budgets or are allowed to exceed budgets in a controlled way for specific reasons. When an organization implements appropriate project cost controls, it reduces risk and receives the full benefits anticipated from project completion.

Controlling costs means meeting a budget that is based on cost estimates. The two components of such estimates are the scope of the work and the cost of each completed task. The project plan details the requirements for the project, which you have to translate into activities. A typical activity requires labor, materials and equipment. Once you have defined the project scope in terms of activities and divided the activity into its cost components, you can calculate cost estimates using costs from historical sources, bids, industry norms and other projects as a base.

Statement of the general problem

The increase in the number of abandoned, uncompleted and under completed projects by individuals, companies and even government has been a cause for serious concern. This high rate of abandonment has inflicted our infrastructural development negatively and may have dissuadedprospective investors from investing in our economy.

Aims and objectives of the study:

The following will be our aims and objectives for undertaking this study

To examine the level of implementation of project cost control in the Nigerian construction industry. To know if adherence to project cost control increases the profitability of Nigerian construction industry. To know if project cost control improves the Nigerian construction industry. To know if project cost control reduces abandonment and under completion of projects.

Significance of the study:

This study will be of great importance to project managers, government, researchers and captains of industries seeing that it would unravel the implications and benefits of ensuring project cost control in the Nigerian construction industry and the economy of Nigeria at large.

Scope of the study:

This study is restricted to project cost control in the Nigerian construction industry with EL-ALAN Construction Company (Nigeria) Limited as its case study.

Limitation of the study:

Financial constraint- Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).

Time constraint- The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.

Research Questions

What is the impact of project cost control on the Nigerian construction industry? Does project cost control enhance the quality of constructions in the Nigerian construction industry? What is the impact of project cost control on the infrastructural development of Nigeria? Is there a relationship between project cost control and economic development in Nigeria?

Research Hypothesis

H0: Effective project cost control does not improve the quality of constructions in the Nigerian construction industry

H1: Effective project cost control does not improve the quality of constructions in the Nigerian construction industry

Definition of terms

Project:A planned piece of work that is designed to find information about something, to produce something new, or to improve something.

Cost:the amount of money that you need in other to buy, make or do something.

Construction:the process or method of building or making something, especially roads, building, bridges etc.

    REFERENCES

Aibinu, A.A. and Jagboro, G.O. (2002) The Effects of Construction Delays on Projects delivery in the Nigerian Construction Industry. International Journal of Project Management 20, 593 – 599

Asamoah, J. (2002) Satisfying the Energy Hunger in West Africa: A Progress on West Africa Gas Pipeline. African energy, Brooke Patrick Publications, Johannesburg, http//wwwafricanenergy.co.za

Buhari I.B. (1991) Inflation and the Nigerian economy.The Nigerian Quantity Surveyor.8-9 4.

Cooke, B. and Williams P. (2003) Construction Planning, Programming and Control, 2nd edition. Palgrave, New York.

Elinwa, U., and Buba, S., (1993): Construction Cost Factors in Nigeria. Journal of Construction Engineering and Management. 119, (4) 698-714.

Eyo - Ita – Eyo, (2001) Nigerian Cement Industry is Pathetic. THISDAY People, Leaders and company limited. httpwww.thisdayonline.com

Fisk, E.R. (1997) Construction Project Administration, 5 th Edition. Prentice Hall, New Jersey

Frimpong, Y., Oluwoye, J. and Crawford, L. (2003) Causes of Delays and Cost Overruns in Construction of Ground water Projects in Developing Countries; Ghana as a case study. International journal of project Management 21, 321 – 326

Husseini A.A. (1991) Construction and the National Economy. The Nigerian Quantity Surveyor. 20 – 21

Isiadinso, E.I.; (1988) ‘The needs and Problems of the Building industry in Nigeria – A Quantity Surveyor’s View.Research Institute Seminar, Nigerian Building and Road Research Institute.

Kangari K. (1989): Business failure in Industry. Journal of Construction Engineering and Management. 115 (2) 173 – 187.

Makoju, J. (2000) Challenges of Investing in Nigeria’s Power Sector.THISDAY Online.com, THISDAY People, Leaders and Company Limited. http/ /wwwthisdayonline.com

.

TYPE IN YOUR TOPIC AND CLICK SEARCH.







RESEARCHWAP.COM

Researchwap.com is an online repository for free project topics and research materials, articles and custom writing of research works. We’re an online resource centre that provides a vast database for students to access numerous research project topics and materials. Researchwap.com guides and assist Postgraduate, Undergraduate and Final Year Students with well researched and quality project topics, topic ideas, research guides and project materials. We’re reliable and trustworthy, and we really understand what is called “time factor”, that is why we’ve simplified the process so that students can get their research projects ready on time. Our platform provides more educational services, such as hiring a writer, research analysis, and software for computer science research and we also seriously adhere to a timely delivery.

TESTIMONIES FROM OUR CLIENTS


Please feel free to carefully review some written and captured responses from our satisfied clients.

  • "Exceptionally outstanding. Highly recommend for all who wish to have effective and excellent project defence. Easily Accessable, Affordable, Effective and effective."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.

  • "I saw this website on facebook page and I did not even bother since I was in a hurry to complete my project. But I am totally amazed that when I visited the website and saw the topic I was looking for and I decided to give a try and now I have received it within an hour after ordering the material. Am grateful guys!"

    Hilary Yusuf, United States International University Africa, Nairobi, Kenya.

  • "Researchwap.com is a website I recommend to all student and researchers within and outside the country. The web owners are doing great job and I appreciate them for that. Once again, thank you very much "researchwap.com" and God bless you and your business! ."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.

  • "I love what you guys are doing, your material guided me well through my research. Thank you for helping me achieve academic success."

    Sampson, University of Nigeria, Nsukka.

  • "researchwap.com is God-sent! I got good grades in my seminar and project with the help of your service, thank you soooooo much."

    Cynthia, Akwa Ibom State University .

  • "Great User Experience, Nice flows and Superb functionalities.The app is indeed a great tech innovation for greasing the wheels of final year, research and other pedagogical related project works. A trial would definitely convince you."

    Lamilare Valentine, Kwame Nkrumah University, Kumasi, Ghana.

  • "Sorry, it was in my spam folder all along, I should have looked it up properly first. Please keep up the good work, your team is quite commited. Am grateful...I will certainly refer my friends too."

    Elizabeth, Obafemi Awolowo University

  • "Am happy the defense went well, thanks to your articles. I may not be able to express how grateful I am for all your assistance, but on my honour, I owe you guys a good number of referrals. Thank you once again."

    Ali Olanrewaju, Lagos State University.

  • "My Dear Researchwap, initially I never believed one can actually do honest business transactions with Nigerians online until i stumbled into your website. You have broken a new legacy of record as far as am concerned. Keep up the good work!"

    Willie Ekereobong, University of Port Harcourt.

  • "WOW, SO IT'S TRUE??!! I can't believe I got this quality work for just 3k...I thought it was scam ooo. I wouldn't mind if it goes for over 5k, its worth it. Thank you!"

    Theressa, Igbinedion University.

  • "I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much researchwap.com, infact, I owe my graduating well today to you guys...."

    Joseph, Abia state Polytechnic.

  • "My friend told me about ResearchWap website, I doubted her until I saw her receive her full project in less than 15 miniutes, I tried mine too and got it same, right now, am telling everyone in my school about researchwap.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work"

    Christiana, Landmark University .

  • "I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!."

    Musa, Federal University of Technology Minna

  • "I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!."

    Ali Obafemi, Ibrahim Badamasi Babangida University, Niger State.
  • To contribute to our success story, send us a feedback or please kindly call 2348037664978.
    Then your comment and contact will be published here also with your consent.

    Thank you for choosing researchwap.com.