Examination of Cost Management Practices in Public Sector Projects in Jalingo Local Government Area
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Background of the Study
Public sector projects in Jalingo Local Government Area (LGA) are crucial for the development of infrastructure and public services. These projects include building roads, schools, healthcare facilities, and other public amenities. However, public sector projects are often subject to budget overruns, delays, and inefficiencies due to poor cost management. Effective cost management practices, such as cost planning, budgeting, and performance monitoring, are essential to ensure that projects are completed within budget and on schedule (Oberlender & Trost, 2011).
This study seeks to evaluate the cost management practices employed in public sector projects in Jalingo LGA and assess their effectiveness in ensuring successful project completion.
Statement of the Problem
Public sector projects in Jalingo LGA often face budget overruns and delays due to poor cost management. Despite the importance of cost control, many public sector organizations lack proper cost management practices. This study investigates the existing cost management practices and their effectiveness in public sector projects.
Aim and Objectives of the Study
The aim of this study is to examine the cost management practices used in public sector projects in Jalingo LGA and assess their effectiveness.
The objectives are:
- To identify the cost management practices employed in public sector projects in Jalingo LGA.
- To evaluate the effectiveness of these practices in controlling project costs.
- To explore the challenges faced in implementing effective cost management in public sector projects.
Research Questions
- What cost management practices are used in public sector projects in Jalingo LGA?
- How effective are these cost management practices in controlling project costs?
- What challenges do public sector organizations face in implementing effective cost management in projects?
Research Hypotheses
- Public sector projects in Jalingo LGA that employ systematic cost management practices are more likely to stay within budget and meet deadlines.
- The application of cost management practices improves the financial performance and completion rate of public sector projects in Jalingo LGA.
- Public sector organizations in Jalingo LGA face challenges in cost management due to inadequate training and lack of effective tools.
Significance of the Study
This study will provide public sector organizations in Jalingo LGA with valuable insights into the role of cost management in successful project delivery. It will guide policymakers and project managers on adopting best practices in cost management to improve the outcomes of public sector projects.
Scope and Limitation of the Study
The study focuses on public sector projects in Jalingo LGA. Limitations include potential resistance from public sector officials in sharing sensitive financial data.
Definition of Terms
- Cost Management: The process of planning and controlling the costs of a project to ensure it is completed within the approved budget.
- Public Sector Projects: Projects initiated and funded by the government for the public good, such as infrastructure, education, and healthcare facilities.
- Jalingo Local Government Area: A local government area in Taraba State, Nigeria, where public sector projects are actively being implemented.
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