THE IMPACT OF COST ESTIMATION ON BUSINESS PLANNING
- Project Research
- 1-5 Chapters
- Quantitative
- Simple Percentage
- Abstract : Available
- Table of Content: Available
- Reference Style: Available
- Recommended for : Student Researchers
- NGN 5000
ABSTRACT
THE IMPACT OF COST ESTIMATION ON BUSINESS PLANNING
This study examines the impact of cost estimation on business planning, focusing on: (1) the role of accurate cost estimation in strategic planning; (2) the benefits of cost estimation for budgeting and forecasting; (3) the challenges in achieving accurate cost estimates. A survey research design is utilized to collect quantitative data from a large sample. Taro Yamane's formula is used to derive a sample size of 330 respondents from Kano, representing a mix of industries. A construction firm is selected as the case study due to the critical nature of cost estimation in project planning and execution. The reliability coefficient score for the survey instrument is 0.86. Findings indicate that accurate cost estimation is vital for effective business planning, providing reliable data for budgeting and forecasting. However, challenges include the complexity of estimating costs accurately and the impact of unforeseen variables. It is recommended that businesses adopt advanced cost estimation techniques, provide training for estimators, and use software tools to improve accuracy and reliability in cost estimation.
Related Project Materials
IMPACT OF EFFECTIVE MANPOWER ON THE DEVELOPMENT OF ORGANIZATIONS
Background Of The Study
Every firm, whether it is one that produces goods or provides services, such as Dangote Sugar Re...
THE ROLE OF PLAY-BASED LEARNING IN EARLY CHILDHOOD SOCIALIZATION
ABSTRACT: This research explored the role of play-based learning in early...
THE ROLE OF COST TRACKING IN BUSINESS OPERATIONS
ABSTRACT
THE ROLE OF COST TRACKING IN BUSINESS OPERATIONS
This research investigates the role of cost tracking in business oper...
ENDSARS PROTEST: A CALL FOR THE ERADICATION OF CORRUPTION IN NIGERIA
ABSTRACT
This study was carried out on ENDSARS protest: a call for the eradication of corruption in Nigeria. To achieve...
THE ROLE OF STANDARD COSTING IN MANAGING AGRICULTURAL COOPERATIVES: A STUDY IN GIREI LGA
Background of the Study
Agricultural cooperatives play a significant role in the development of rural e...
Accounting Information System in Improving Agricultural Investment Tracking in Mokwa Local Government Area
Background of the Study
Agriculture is a primary source of livelihood for many in Mokwa Local Governmen...
IMPACT OF E-LEARNING ON ADULT EDUCATION IN NIGERIA
Abstract: This research examines the impact of e-learning on adult education in Nigeria. The study aimed to investigate how the adoption of e-...
STRATEGIES FOR IMPROVING RETENTION RATES IN TECHNICAL EDUCATION PROGRAMS
Abstract: This research addresses strategies for improving retention rates in technical edu...
EARLY CHILDHOOD EDUCATION AND TECHNOLOGY INTEGRATION
ABSTRACT: Early childhood education plays a vital role in technology integ...
THE ROLE OF NON-GOVERNMENTAL ORGANIZATIONS IN THE DEVELOPMENT OF RURAL AREAS
INTRODUCTION
Over the years, successive Non-Governmental Organization Agencies in Nigeria have demonstrated appreciable...
