Implications of Budgeting and Budgetary Control on Construction Project Delivery in Nigeria

Abstract

The growing need for construction of all types coupled with a tight monetary supply has provided the construction industry with a big challenge to work within budget and invariably to cut cost. Clients expect a high level of transparency in project cost accounting and good value for their investment. This can only be achieved through proper budgeting and effective budgetary control of the building processes from inception to completion. This is the kernel of this paper. Having identified the target groups (clients, consultants and contractors) seventy respondent, purposively selected were given structured questionnaires, selected using stratified random sampling technique, a type of probability sampling in order to give everyone that falls into any of these identified target group equal and independent chance of being included in the sample. From the analyzed responses, it was observed that non application of relevant budgetary control has adverse implications like time and cost overrun on projects. It is therefore recommended that an effective application of budgeting and budgetary control will make way for successful completion and delivery of a construction project

Keywords: Budgeting, Project Delivery, Construction client, Budgetary Control.

DOI: 10.7176/CER/11-8-08

Publication date:September 30^th 2019