ASSESSMENT OF FACTORS AFFECTING COST PERFORMANCE CONSTRUCTION PROJECT IN NIGERIA
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- NGN 3000
Abstract
Maintaining steady cost projection on construction projects had been until recently an issue of serious concern, both to the client and project contractors. Cost deviation from initial Cost plan, had been prevalent on Construction sites. However, little or no efforts has made to curtail the phenomenon, it is against this background that this research work attempt to study the factors that are responsible, so as to identify them and proffer possible ways of tackling the menace. The study attempt this through chosen construction practitioners as population and samples were drawn to this effect at random from the category of professionals, using probability sampling methods. The Data were collected from primary source consisting of structured questionnaire designed in Likert Scale in rating Scale of 1to5, while the Secondary Data were collected through review of Journal articles and relevant Text books. The Data were analysed using Severity Index, Ranking and Simple Percentages. It was discovered from the analysis that factors such as Contractors inexperience, inadequate planning, Inflation, incessant variation order, and change in project design were critical to causing cost overrun, while project complexity, shortening of project period and fraudulent practices are also responsible. The study concluded with recommending, adequate planning using conventional techniques, Studying and applying project history, material bulk purchase, proper project design and establishing proactive fraud prevention system on sites, as panacea for effective cost performance on sites.
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