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)

Type: Project Materials | Format: Ms Word | Attribute: Documentation Only | Pages: 67 Pages | Chapters: 1-5 chapters | Price: ₦ 3,000.00

2,320 marked this research material reliable.
Call or whatsapp: +2347063298784 or email: info@allprojectmaterials.com
PROJECT COST CONTROL IN THE NIGERIAN CONSTRUCTION INDUSTRY (A CASE STUDY OF EL-ALAN CONSTRUCTION COMPANY (NIGERIA) LIMITED)

CHAPTER ONE

INTRODUCTION

1.1.    Background of the study

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.

 

 

1.2.    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.

1.3.    Aims and objectives of the study

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

Ø To examine the level of implementation of project cost control in the Nigerian construction industry.

Ø To know if adherence to project cost control increases the profitability of Nigerian construction industry.

Ø To know if project cost control improves the Nigerian construction industry.

Ø To know if project cost control reduces abandonment and under completion of projects.

1.4.    Research Questions

Ø What is the impact of project cost control on the Nigerian construction industry?

Ø Does project cost control enhance the quality of constructions in the Nigerian construction industry?

Ø What is the impact of project cost control on the infrastructural development of Nigeria?

Ø Is there a relationship between project cost control and economic development in Nigeria?

1.5.    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 improve the quality of constructions in the Nigerian construction industry.

1.6.    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.

1.7.    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.

1.8.    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.

 

1.9.    Definition of terms

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

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

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

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

Additional Information

  • The Project Material is available for download.
  • The Research material is delivered within 15-30 Minutes.
  • The Material is complete from Preliminary Pages to References.
  • Well Researched and Approved for supervision.
  • Click the download button below to get the complete project material.

Frequently Asked Questions

In-order to give you the best service available online, we have compiled frequently asked questions (FAQ) from our clients so as to answer them and make your visit much more interesting.

We are proudly Nigerians, and we are well aware of fraudulent activities that has been ongoing in the internet. To make it well known to our customers, we are geniune and duely registered with the Corporate Affairs Commission of the republic of Nigeria. Remember, Fraudulent sites can NEVER post bank accounts or contact address which contains personal information. Free chapter One is always given on the site to prove to you that we have the material. If you are unable to view the free chapter 1 send an email to info@allprojectmaterials.com with the subject head "FREE CHAPTER 1' plus the topic. You will get a free chapter 1 within an hour. You can also check out what our happy clients have to say.


Students are always advised to use our materials as guide. However, if you have a different case study, you may need to consult one of our professional writers to help you with that. Depending on similarity of the organization/industry you may modify if you wish.


We have professional writers in various disciplines. If you have a fresh topic, just click Hire a Writer or click here to fill the form and one of our writers will contact you shortly.


Yes it is a complete research project. We ensure that our client receives complete project materials which includes chapters 1-5, full references, questionnaires/secondary data, etc.


Depending on how fast your request is acknowledged by us, you will get the complete project material withing 15-30 minutes. However, on a very good day you can still get it within 5 minutes!

What Clients Say

Our Researchers are happy, see what they are saying. Share your own experience with the world.
Be polite and honest, as we seek to expand our business and reach more people. Thank you.

A Research proposal for project cost control in the nigerian construction industry (a case study of el-alan construction company (nigeria) limited):
Reviews: A Review on project cost control in the nigerian construction industry (a case study of el-alan construction company (nigeria) limited), construction, project, cost project topics, researchcub.info, project topic, list of project topics, research project topics, journals, books, Academic writer.
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... project management project topics

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

Project Information

  • CATEGORY : PROJECT MANAGEMENT
  • TYPE : PROJECT MATERIAL
  • FORMAT : MICROSOFT WORD
  • ATTRIBUTE : Documentation Only
  • PAGES : 67 Pages
  • CHAPTERS : 1 - 5
  • PRICE : ₦ 3,000.00

Share Links

Download Post
Download Post

Search for Project Topics

Project topics in Departments

Do you need a writer for your academic work?